Small Business Equity Tracker
British Business Bank's annual report tracking UK smaller-business equity investment; 2026 edition covers 2025 data.
Last refreshed: 22 July 2026 · Appears in 1 active topic
Timeline for Small Business Equity Tracker
Mentioned in: Lords question UKRI chief on funding
UK Startups and InnovationDocumented the London-to-regions share shift
UK Startups and Innovation: London's equity share slips to 57%Documented the 44% AI share and 23% concentration figures
UK Startups and Innovation: AI takes record 44% of UK equity marketDocumented the spinout deal-count and value declines
UK Startups and Innovation: Spinout deals fall 33% as seed dries upBackground
The Small Business Equity Tracker is the British Business Bank's annual report on equity investment into UK smaller businesses. Its 2026 edition, published on 2 July 2026, found the overall market shrank 4% to £12.3bn in 2025 while AI companies took a record 44% share of that value.
The tracker measures the value of equity raised rather than the number of companies funded, so a record AI share can sit on top of fewer names taking larger cheques. The 2026 edition also found the top 10 fundraisings absorbed 23% of all investment, the highest concentration since 2020, seed deals fell 27%, and university spinout deals fell 33% by count and 51% by value.
It also tracked a regional shift, with London's share of UK equity investment falling from 60% in 2024 to 57% in 2025 while the North West, Scotland and the South West grew, driven by a small number of large AI and energy deals.
What is the Small Business Equity Tracker?
How much UK equity investment went to smaller businesses in 2025?
What share of UK equity investment went to AI companies in 2025?
Why did London's share of UK equity investment fall in 2025?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 July 2026. Editorial standards.