HMRC Key EIS Statistics – October 2016
Today, the government released the latest statistics on the Enterprise Investment Scheme and companies raising funds through the scheme.
Enterprise Investment Scheme
- Since the Enterprise Investment Scheme (EIS) was launched in 1993-94, over 24,620 individual companies have received investment through the scheme and almost £14.2 billion of funds have been raised.
- Data for 2014-15 shows that 3,265 companies raised a total of £1,816 million of funds under the EIS scheme. In 2013-14, 2,840 companies raised £1,591 million of funds.
- Data for 2014-15 show that the 1,660 companies raising funds for the first time under the scheme raised a total of £1,022 million compared with 1,405 first time companies raising £897 million in 2013-2014.
- In 2014-15, companies from the Business Services sector accounted for over £600 million of investment (one third of all EIS investment)
- London and the South East continued to account for the largest proportion of investment with companies in these regions receiving 65% of investment in 2014-15
John Glencross, CEO, Calculus Capital, commented that “it is very encouraging to see 3,265 companies raising funding under the EIS scheme in the year to March 2015 and 1660 companies raising funding for the first time. These figures predate the changes to the EIS in 2015 and it remains to be seen how those changes have impacted promising companies’ ability to raise finance.
The approach of Brexit shows how important smaller companies are in creating jobs and contributing to GDP. If the figures are down for 2015/2016, the Treasury should consider reversing those changes.”
John Glencross also highlighted that it would be helpful to policy formulation if HMRC issued the figures sooner than eighteen months after the period end.
To see the full HMRC EIS and SEIS statistics report click here