Pfizer vaccine approval: biotech innovation brings positivity for UK private sector

This week has provided hope and optimism that the end of the pandemic is finally in sight, with the UK becoming the first country in the world to approve the Pfizer/BioNTech coronavirus vaccine for widespread use. With almost half of Britain now in Tier 3 and many small businesses facing closure, such news should bring optimism for businesses and investors alike to help them recover and enable future growth.

Since the onset of the pandemic, the vaccine roll-out has been the first real news announcement that has viable potential to support society back to ‘normal’. This is in no small part down to biotech innovation that has been able to move forward at record speed when crucially needed. Today’s landmark announcement comes as a welcome reminder for the UK’s investor community to support future-facing innovation both by way of R&D and scale-up finance.

Private investment is a vital catalyst for wider economic growth – with the UK’s high net worth community providing essential early indicators for the direction of wealth at a time where the distribution of capital is key. With a 12% increase in new businesses starting up during 2020 compared to 2019, the new year is set to create some exciting investment opportunities for investors throughout the country and some that are sure to boost the wider British economy.

Over and above its financial impact, the vaccine also serves as a significant moral booster for the UK’s workforce in a period where uncertainty is rife and the economy is only as strong as the workforce that underpins it. The wider sentiments of returning the work safely is paramount and with the widespread roll out of the Pfizer vaccine to begin next week, many across the UK will now be able to return to their jobs in a safe manner without having to worry about their health, furthermore helping to revitalise the economy from the ground up.

Private capital has proven to be fundamental in helping UK businesses grow and flourish post-pandemic, and will be a welcomed sight for many SMEs throughout the country. The news of the vaccine’s approval is sure to bring investment flowing back into SMEs and start-ups which is key for the resurgence of the UK economy, with the SME community making up 99.9% of private sector businesses.

CEO of IW Capital, Luke Davis (pictured) said: “The success of the vaccine is a welcomed sight for investors who now see an opportunity for growth. Such great news brings optimism for both investors and small businesses alike, with the fourth quarter looking stronger and early 2021 now looking promising.

“It’s truly positive to see an increase in new businesses compared to last year even with the uncertainty and limitations that the pandemic has produced. With more and more people looking to start their own businesses, private capital is proving to be crucial and with the new year bringing hope to investors, we should start to see these new businesses flourish.

“Here at IW, we prioritise in biotech investment as we understand the importance of the industry and its impact during these times. There is a real need for investors to look towards the biotech industry to support such future facing innovations that now play an integral role in our society.

“The SME community make up 99.9% of private sector businesses, and so supporting them to ensure their financial growth, is of the utmost importance to the overall health of the UK economy. Small firms already employ over 16million people in the UK, and pre-pandemic, this sector was growing at a faster rate than the overall job market. A return to this would provide a welcome boost.

“Making growth investment more easily available to small businesses that are looking to grow should be a priority. The last time that the government-backed EIS was extended, it resulted in a significant jump in private investment into small businesses. Replicating this effect with new, or increased, incentives would provide a much needed boost to a section of the economy that is most in need, and so we hope this will be addressed in the near future.”

 

 

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