Figures released yesterday by Ernst & Young and VentureOne revealed venture captital investment fell by just under a quarter between 2002 and 2003.
The amount invested was down 24% year on year from €1.5bn to €1.1bn, a stark contrast to the heady days of 2000 when more than double that amount was raised in half of a single quarter.
But the news was not all bad. According to the study, the UK venture capital market enhanced its position as the largest in Europe, accounting for 32% of total funds invested. And the report said the outlook for 2004 was much rosier.
Stuart Watson, head of Ernst & Young’s venture captial advisory group in the UK, said: ‘We consider that the more healthy signs of recovery in the US will show through into the UK market and then subsequently the rest of the European market in 2004.’
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.