|Posted on Tuesday, 17 May 2011 11:22AM by |
|The next Northwest Business Angels (NWBA) network event is set to take place on 20th May at the Northwest Regional Development Agency’s (NWDA) Warrington headquarters, Renaissance House. |
The Dragons’ Den-style event remains as popular as ever, providing early stage investment to entrepreneurs hoping for commercial success.
Facilitated by the NWDA, Northwest Business Angels connects young and growing companies, seeking financial assistance, with investors actively looking for profitable business opportunities in the Northwest.
At the next event, seven companies will be pitching for investment to the value of £1,065,000 to an audience of more than 40 investors to try and secure investment in their business ideas.
Entrepreneurs are given the chance to pitch their products, services or ideas to the audience made up of successful business people ‘Business Angels’, to try and secure investment; typically anything from £10,000 to £500,000. As part of the service, the NW Access to Finance team offers a free service to help entrepreneurs become ‘investment ready’.
The Northwest Business Angels Investor Club Meetings take place in Warrington and have a growing number of entrepreneurs looking for angel investors as a route to funding a new business.
In order to help support entrepreneurs, especially the growing demand in the current economic climate, NWBA is actively looking for new Angels to join the network.
Mark Hughes, Chief Executive at the NWDA, said: “In recent months we have seen more finance seekers turning to the Northwest Business Angel Network to access business funding, so it is essential that we continue to engage and increase the number of investors or Angels looking to invest.
“The Dragons’ Den approach that the Northwest Business Angel Network has adopted allows investors to provide expert guidance and support, which provides investment seekers with a real prospect of turning potential opportunities into tangible success.
“At times when business finance is increasingly difficult to obtain, the Business Angels Network is even more important to strengthening the Northwest’s economy and I hope investors continue to work with new businesses, enabling them to grow and develop.”
One company to benefit from Business Angels was Shoot Cut Go Limited, an innovative web-based video production company.
Laurence James Managing Director of Shoot Cut Go Limited needed both funding and additional business experience to help the company succeed. He said: “Seeking a Business Angel seemed the best way forward and the Business Angel events provided a perfect forum to hone requirements and seek these investment and business relationships.
“In the event, funding was exceeded as two Angels rather than the one sought were found, bringing further experience to the table as well as the additional funding.”
Another company to benefit was Brushy Creek Films. At the Northwest Business Angel Investor Club Meeting in September 2010, the company was able be to secure pledges to the value of £50,000 towards their equity funding for their Northwest-based feature film Gridiron UK.
At this meeting, Producer Gary Delaney struck up a relationship with a successful business person who, although did not invest, had promotional expertise that were beneficial to the successful promotion of the film.
Gary Delaney commented: “Raising finance for any venture in the current economic climate is a difficult task, even more so for funding low budget feature films. I was pleasantly surprised at how receptive people were to our venture. My relationship with the Business Angels is an ongoing process and I would recommend anyone looking for funding advice to get in touch.”
For further information, or to register visit www.nwbusinessangels.co.uk or call 01925 400 509.