PRIVATE INVESTORS BOOST BRISTOL’S ECONOMY AND CREATE JOBS
Investments by successful Bristol entrepreneurs into locally-based businesses have created a total spend in the city of just over £8 million and created 96 jobs in the last two years.
The second annual Business Performance Survey carried out on behalf of Bristol Private Equity Club has revealed the impact the club’s investments have had on the wider Bristol economy and jobs market.
There are 80 successful entrepreneurs and business people investing their own capital through the club. Since it was founded three years ago a total of £6 million has been invested into 19 businesses in the area to support their growth.
The survey looks at how the investments benefit the wider business community and shows that a total of £8 million has been spent locally by those businesses, including wages.
There are now a total of 176 people in jobs created in businesses that have been supported by Bristol Private Equity Club, earning in total £5.3 million a year.
Jerry Barnes, the founder of the Bristol Private Equity Club said: “The club only supports businesses in the greater Bristol area and every investment does not just support an individual business but helps the whole local economy.
“The annual survey looks at that impact. Successful businesses will be paying rates and tax to support the city’s infrastructure, giving people jobs and money that they will spend locally and spending with other local businesses.
“Of course some of these businesses have received funding from other sources but it is exciting to see people who have been successful in Bristol re-invest in the city and support others with business ideas. Many of the companies that have received funding are technology businesses at the leading edge of tomorrow’s innovations.
“Many have potential for fast growth and as well as money are receiving support and advice from our investors, who are pleased to be passing on their knowledge and expertise.”
Issued on behalf of Bristol Private Equity Club by Empica.