Intra and Inter-Regional Flows of Business Angel Investment: Mapping the Winners and Losers across UK Regions and Core Urban Economies

Ross Crawford Brown, Marc Cowling*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

Hitherto, the literature has largely overlooked the important role business angel finance plays in shaping different regional economies. Using a novel UK data set, this paper calculates inter-regional inflows and outflows of business angel investment to identify the net winners and losers both in terms of number of deals and cash value of investment flows. We establish that only three regions were net beneficiaries while the other eleven UK regions and cities examined were net losers. The reduction in “home bias” in angel investments may undermine the efficacy of policies aimed at stimulating localised investment and calls for greater demand stimulation policies to help alleviate the problem of “thin” regional markets.
Original languageEnglish
JournalRegional Studies
DOIs
Publication statusAccepted/In press - 10 May 2024

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