Firms in the district are losing out by not taking advantage of the Alternative Investment Market (AIM), according to new research.

Bradford accountancy business Baker Tilly found firms lag behind those in London as few know the benefits of AIM.

Stuart Pearson, of Baker Tilly, said: "Our sixth annual survey of the market, Taking Aim 2002, reveals that of the firms quizzed in the region only six per cent said they were very familiar with AIM, compared to 20 per cent of companies in London.

"Regrettably, 34 per cent of companies in the region have never heard of it.

"Another 28 per cent of companies in the region said they were not very familiar with AIM compared to just 18 per cent in London, even though the market is regarded by many as a stepping stone to full listing on the Stock Exchange,

"Underlining the need to promote the benefits of AIM, three quarters of those interviewed for the survey were finance directors."

The majority of firms unfamiliar with AIM came from the manufacturing and engineering sectors. Telecommunication companies and financial services firms are more knowledgeable about AIM.

Nationally more than 80 per cent of recent AIM listed firms were delighted with their experiences of the market.

Some 57 per cent of firms in the region who were familiar with AIM described gaining admission as 'very easy' or 'quite easy' compared with an average of 67 per cent among new AIM companies.