The Enterprise Investment Scheme Association is celebrating it’s incredible 30 year anniversary this year, and in honour of the scheme and its groundbreaking achievements, EISA has partnered with Beauhurst to create a report which looks into the full impact of the Enterprise Investment Scheme on the UK economy over the last 30 years. The report was recently released during the 30th Anniversary of the EIS conference, on the 18th of September 2024. At GBI Magazine, we will be highlighting some of the report’s main findings and key points, including words from Christiana Stewart-Lockhart, Director General of the Enterprise Investment Scheme Association (EISA).
Christiana states that ‘Not only has the Enterprise Investment Scheme served to provide £30.b of critical investment to tens of thousands of businesses across the UK, but the data in this report also shows the jobs created, with EIS backed companies responsible for nearly 400k jobs across the UK in 2023 alone.
Since 2014, almost 80k patents have been filed by EIS investee companies underscoring the innovative nature of these businesses, many of which are genuinely addressing some of the greatest challenges we face. From discovering new ways to treat and diagnose cancer, such as Edinburgh- based Carcinotech, to the work that Redcar-based Nova Pangaea Technologies is doing to create sustainable aviation fuel – EIS investee companies are right at the forefront of innovations that will shape the world for years to come.
Research by the European Commission found the SEIS (Seed Enterprise Investment Scheme) and EIS to be the most successful schemes of their kind in the world and many other countries are trying to establish their own versions to emulate the impact that the schemes have had, propelling the UK to the forefront of global innovations and entrepreneurship.
The data within this report illustrates the fundamental role that these companies are playing and their contributions to the UK economy in terms of innovation, job creation and economic growth. As we look to the future, the continued support and evolution of the EIS will be vital in maintaining the UK’s position as a global leader in entrepreneurship and innovation.’
Be sure to keep up to date with our website and social media platforms over the next week as we dive into greater detail of the report and its influence.
To read the full report in its entirety, please see here
