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Start-ups and small businesses have raised over £80million of funding via the Government’s SEIS scheme.
SEIS is a relatively new kid on the block and provides attractive tax benefits for investors putting their money in to qualifying Companies as long as certain conditions apply.
Figures released show that 1,120 small businesses have secured funding through the scheme since it was set up in 2012 as an incentive to boost investment in small Companies.
In terms of where the investment has gone a third has, perhaps unsurprisingly, found its way in to Tech companies. Over 20% has gone to ‘business services’. These two sectors represent more than half of all money rasied through SEIS.
In the same year, over £1billion of investment was raised by nearly 2,400 SMEs through SEIS’s bigger and more established brother EIS.