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The UKBAA acts as a centre of research for the early-stage investment industry, gathering crucial data and insights that affect grounded, supportive policy decisions from key industry stakeholders.

If you are looking to conduct research on our industry, or want to share your own analyses, contact us to see how we can support your work.

Choose the research you want to view by clicking one of the links below:

Women Angel Insights Report

The Women Angel Insights report, developed by UKBAA and Beauhurst, in partnership with NatWest, reveals that more than 5,000 women are making angel investments across the UK, helping to create over 10,000 jobs in the past decade.

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Industry reports

From sector-specific reports to wider deep dives into the ecosystem, we’ve collected a series of reports and research that outline the UK angel investment market and the challenges and opportunities that exist.

Nations and Regions Tracker 2023
Nations and Regions Tracker 2023

The British Business Bank’s third annual Nations and Regions Tracker finds the use of external finance among smaller businesses is showing signs of recovery in early 2023, after a decline in most UK Nations and regions in 2022.

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Equity Investment in Wales
Equity Investment in Wales

In partnership with the Development Bank of Wales, Beauhurst revisits the Welsh equity investment landscape—exploring top sectors, investors, and succession deals.

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British Business Bank Small Business Equity Tracker 2023
British Business Bank Small Business Equity Tracker 2023

The Small Business Equity Tracker 2023 Report provides a comprehensive picture of equity funding conditions for smaller businesses across the UK.

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The climate for early-stage investing in the Creative Industries
The climate for early-stage investing in the Creative Industries

This report was developed in partnership with UKBAA and Creative UK to explore the opportunities and challenges for investing in the UK Creative Industries.

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What's powering the powerhouse?
What's powering the powerhouse?

Praetura Ventures created this research to provide a snapshot into the North’s early-stage funding landscape in 2022.

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Funding to Flourish: The case for tax relief on early stage investment
Funding to Flourish: The case for tax relief on early stage investment

This paper makes four recommendations to policymakers on supporting growth investment in the UK.

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The Climate for Angel Investing
The Climate for Angel Investing

This Survey was aimed at helping us to better understand the characteristics of our Angel community, their current investment activity, plans for the future and challenges they are experiencing, at a time when there are potentially important economic challenges at both global and domestic level.

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Nations and Regions Tracker 2022
Nations and Regions Tracker 2022

British Business Bank’s Nations and Regions Tracker 2022 Report provides analysis that illuminates the geographic patterns seen in UK small business finance. This is the Bank’s second annual Nations and Regions Tracker.

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Backing innovation-led businesses: the role of public investment
Backing innovation-led businesses: the role of public investment

This report, published by the British Business Bank and UK Research and Innovation, including Innovate UK, explores the role of public funding and financing of innovation in the UK.

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How investors can support the journey to net zero
How investors can support the journey to net zero

This report draws heavily on our community’s views regarding where the opportunities in this area lie, as well as recommendations on how private finance and corporates can work together to move towards the UK’s 2050, net-zero target.

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New Records Reached
New Records Reached

Angel investment and the risk capital market in Scotland 2019 to 2021.

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Small Business Equity Tracker 2022
Small Business Equity Tracker 2022

Equity investment in the UK’s smaller businesses increased by 88% in 2021 to £18.1bn compared to the previous year.

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VC Term Sheet - Market Report 2021
VC Term Sheet - Market Report 2021

PwC | Raise Ventures VC Term Sheet market report is an annual independent market report of the key terms seen in VC term sheets. 

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Small Business Finance Markets Report 2022
Small Business Finance Markets Report 2022

The Small Business Finance Markets 2021/22 report provides a timely and comprehensive review of finance markets for smaller businesses.

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Creative Industries Report 2021
Creative Industries Report 2021

The Future of the Creative Economy in the North of England: Spotlight on Greater Manchester.

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Seeding to Succeed
Seeding to Succeed

In collaboration with SFC Capital, Beauhurst has analysed seed-stage investment in the UK’s high-growth ecosystem

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UK Immersive Tech: VC Investment Report
UK Immersive Tech: VC Investment Report

The ‘UK Immersive Tech: VC Investment Report’ features 31 highly innovative, fast-growing immersive tech ventures that have already raised significant amounts of VC and Angel investment.

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Small Business Equity Tracker 2021
Small Business Equity Tracker 2021

This report provides an in-depth assessment of equity finance for smaller businesses.

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The Future UK Tech Built
The Future UK Tech Built

Tech Nation’s report focuses on what’s next for UK tech; the challenges that are being faced by stakeholders in the ecosystem; and how scaling companies have the potential to build back in a way that delivers benefit for everyone.

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The Deal
The Deal

Beauhurst reports on equity investment in the UK in 2020.

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UK Private Debt Research Report
UK Private Debt Research Report

This report marks a seminal moment in the development of the Private Debt market in the UK, and the BVCA is delighted to support the British Business Bank in its publication.

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Capital Behind Venture 2020
Capital Behind Venture 2020

Mountside Ventures has released their Capital Behind Venture report, which provided insights from over 60 Limited Partners / Family Offices who invest in European VCs.

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COVID-19 Business Impact - 6 months on
COVID-19 Business Impact - 6 months on

Understanding the impact of COVID-19 on ambitious UK businesses.

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British Business Bank’s Small Business Equity Tracker 2020
British Business Bank’s Small Business Equity Tracker 2020

The Small Business Equity Tracker 2020 report provides an in-depth picture of equity finance for smaller businesses.

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UK Business Angel Market Report 2020
UK Business Angel Market Report 2020

The British Business Bank’s UK Business Angel Market report 2020 reveals that angel investors across the UK are continuing to invest in early stage businesses and are optimistic about the future despite current economic uncertainty.

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Accelerating Innovation - Investing the UK Automotive Sector 2020
Accelerating Innovation - Investing the UK Automotive Sector 2020

Prospedia Capital and Beauhurst have studied the investment flowing into early and growth-stage companies serving the UK’s burgeoning advanced automotive technology sector.

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The Future of Growth Capital
The Future of Growth Capital

The report stresses that closing the emerging £15bn gap will provide opportunities for aiding the UK’s economic recovery post-Covid, generating future prosperity and boosting regional economies, productivity, innovation and internationalism.

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Supporting UK Economic Recovery
Supporting UK Economic Recovery

The scale and complexity of Covid-19 has brought about some of the most challenging economic conditions the country has ever encountered.

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The Scaleup Index 2019
The Scaleup Index 2019

In partnership with The ScaleUp Institute, Beauhurst has examined 5,456 unique scaleup businesses. They’ve analysed everything from investments, investors and growth rate demographics, to geographical distribution, founders and executives.

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The UK Business Angel Market Report (2018)
The UK Business Angel Market Report (2018)

The British Business Bank has a mission to improve finance markets for smaller UK businesses. As part of that mission, it works to enhance the business angel eco-system across the country.

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Investing in Screen-focused businesses - The Angels' Perspective
Investing in Screen-focused businesses - The Angels' Perspective

To help us understand what are the barriers and opportunities for investing in these sectors, we have carried out a survey among our community.

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The Scaleup Index 2019
The Scaleup Index 2019

In partnership with The ScaleUp Institute, Beauhurst has examined 5,456 unique scaleup businesses. They’ve analysed everything from investments, investors and growth rate demographics, to geographical distribution, founders and executives.

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Diversity & Inclusion

There are long-standing challenges around diversity in the investment market here in the UK, in terms of entrepreneurs’ access to finance and the whole investment base. In this section we’ve gathered the latest data and reports, which emphasise the importance and impact of a diverse ecosystem.

Accelerate to Excel
Accelerate to Excel

In this year’s annual Female Founders Forum report, The Entrepreneurs Network take stock of what progress women entrepreneurs have made over the past several years since we started researching and campaigning on policies to remove obstacles they face in starting and growing a business.

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Rebalancing Innovation: Women, AI and Venture Capital in the UK
Rebalancing Innovation: Women, AI and Venture Capital in the UK

Rebalancing Innovation: Women, AI and Venture Capital in the UK presents a unique picture of gender diversity in AI-focused venture capital (VC) investment over the last decade, based on new research from the Women in Data Science and AI team at The Alan Turing Institute.

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Diverse Founders in Advanced Digital Technology Report 2023
Diverse Founders in Advanced Digital Technology Report 2023

Key findings of the report include the UK’s impressive leadership in tech investment and the growth of high-potential startups. However, it also highlights significant disparities in funding and opportunities among founders based on gender, ethnicity, and educational background.

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Finding What Works: Pathways to Improve Diversity in Venture Capital Investment
Finding What Works: Pathways to Improve Diversity in Venture Capital Investment

The Finding What Works report, undertaken by the British Business Bank in partnership with SQW, provides three clear, actionable, and evidence-based pathways for UK funds to improve diversity in venture capital investment.

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Diversity and Inclusion in UK Biotech
Diversity and Inclusion in UK Biotech

A first of its kind sector benchmark report on diversity, equity and inclusion (DEI) across innovative life sciences and biotech in the UK.

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UKBAA Angel Investing in Diversity Guidance
UKBAA Angel Investing in Diversity Guidance

UKBAA have developed the Angel Investing in Diversity Guidance to support DE&I initiatives for groups and organisations.

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The Cornerstone Report: Access to Venture Capital
The Cornerstone Report: Access to Venture Capital

Founder journeys and the barriers to inclusive investment.

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Impact of COVID-19 on Black and Ethnic Minority-led businesses
Impact of COVID-19 on Black and Ethnic Minority-led businesses

The Covid-19 crisis has had a devastating impact not only on people’s lives but also on many parts of the UK economy.

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Alone, Together - entrepreneurship and diversity in the UK
Alone, Together - entrepreneurship and diversity in the UK

The UK has 5.9 million small and medium sized businesses (SMEs), started and run by a great many entrepreneurs.

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Ethnic Diversity Enriching Business Leadership
Ethnic Diversity Enriching Business Leadership

An update report from The Parker Review.

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Diversity wins: how inclusion matters
Diversity wins: how inclusion matters

In the COVID-19 crisis, diversity and inclusion matter more than ever.

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Women Founders & Investors

Over the last few years, we have identified the distinct challenges faced by women in the investment ecosystem, from the disproportionately low level of representation of women seeking to angel invest, to the disparity in access to finance faced by women-led teams. In this section you can access the latest reports and research in this area.

Investing in Women Code - Annual Report 2023
Investing in Women Code - Annual Report 2023

Welcome to this third annual report of the Investing in Women Code, which includes data collected by finance providers during 2022.

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Rose Review 2023 Progress Report
Rose Review 2023 Progress Report

In the last year, we have seen that female entrepreneurs respond to challenging economic times by establishing new businesses and setting out on their own. 

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Investing in Women Code - Annual Report 2022
Investing in Women Code - Annual Report 2022

Welcome to this second annual report of the Investing in Women Code, which includes data collected by finance providers during 2021 and features the actions taken by them to support women entrepreneurs with the tools, resources and finance they need to achieve their goals.

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The Rose Review Progress Report 2022
The Rose Review Progress Report 2022

The Rose Review Progress Report 2022 on female entrepreneurship, published on  28 February sets out the full extent of progress made since the inaugural report in 2019.

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Investing in Women Code - Annual Progress Report 2021
Investing in Women Code - Annual Progress Report 2021

The Investing in Women Code is a commitment to support the advancement of female entrepreneurship in the United Kingdom by improving female entrepreneurs’ access to tools, resources and finance.

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The Alison Rose Review of Female Entrepreneurship
The Alison Rose Review of Female Entrepreneurship

The goal of the Rose Review is to tap the huge unrealised economic potential of female entrepreneurs.

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The Barriers and Opportunities for Women Angel Investing in Europe
The Barriers and Opportunities for Women Angel Investing in Europe

The aim of this research was to understand the common characteristics and drivers of women who do invest and to understand the barriers and challenges for women who do not invest.

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Funding to the Female Founders
Funding to the Female Founders

Crunchbase has been tracking the growth of companies with female founders since early 2015.

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Women entrepreneurs: Developing collaborative ecosystems for success
Women entrepreneurs: Developing collaborative ecosystems for success

This report considers the reasons for the apparent disparity between men and women-led SME businesses.

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