The AIM Investments Market (AIM) is a sub-market of the London Stock Exchange which allow small companies to float their shares with a less regulations than apply in the Main Market. The AIM investments market was launched in 1995 and has raised over £20 billion investment for more than 2,000 companies. The increased flexibility of AIM Investments is provided by less regulation and no requirements for capitalisation or amount of shares issued. Some companies have since moved on to join the Main Market, although in the last few years, significantly more companies transferred from the Main Market to the AIM (The AIM has significant tax advantages for investors, as well as less regulatory burden for the companies themselves). In 2005, 40 companies moved directly from the Main Market to the AIM, while only two companies moved from the AIM to the Main Market.