The Office for National Statistics has just published its bi-annual report ‘Ownership of quoted shares for UK domiciled companies’ using 2014 data. For the first time, data for AIM companies has been split out from the whole market. It shows that retail investors form the largest cohort of investors in AIM, constituting 30.9%. We would argue that they are even more important because they provide the daily liquidity from which the share price is set; retail investors are not just the ‘marginal buyers’. Unless a company has a means of addressing this audience retail investors will either not be interested in the company, or worse, might be influenced by misleading analysis and information on media such as bulletin boards and blogs.