AIM is a market. It is not a business model.
A starting point for reading London’s growth-company market without treating every issuer as the same investment.

A route to equity finance
The London Stock Exchange describes AIM as a market for growth companies seeking equity finance. It brings together companies with different activities and circumstances; membership alone is not an assessment of the quality of an investment.
Understand the supporting roles
The exchange describes nominated advisers, corporate brokers and ongoing reporting and disclosure obligations. Investors should understand those roles and read the issuer’s own disclosures, rather than relying on the market label.
AIM and small cap are not synonyms
AIM is a defined market, while small cap is a description of company size that depends on the measure and time used. This publication covers the London smaller-company landscape without implying that all AIM companies have the same valuation or risk profile. The exchange overview was located through its official search record; its dynamic body did not fully extract in the source review.