Business angels help South West companies spread their wings
Link Devon and Cornwall and the South West Angel and Investor
Network (SWAIN) are looking for 'business angels'
in the region who can help high growth companies achieve their
full potential through investment. On Friday 10th February
seven South West companies, looking for over £1.1 million
worth of investment, met up with their own angels during an
event held at the Eden Project.
The event was a joint meeting between Business Link Devon
and Cornwall and (SWAIN) which aimed to provide companies,
working in a range of sectors throughout the region, with
the opportunity to meet with like-minded investors.
In a format similar to the BBC's 'Dragon's
Den' TV programme, the companies based throughout Devon,
Cornwall and Somerset each gave a 10 minute presentation to
the angels. But unlike the TV show, no decisions have to be
made by either party on the spot. And as Business Link's
finance advice for business manager, Colin Sawer explained,
it's not only more angels they are looking for.
"We'd also like to see more South West companies
who are looking for investment come forward in the future.
Businesses from any sector are eligible, whether you are already
established or just starting up but there are some criteria
you need to fulfil. You need to have a comprehensive business
plan and prove your company has the potential for high growth.
You must also be prepared to give up some equity in the business."
Colin continued: "The angels programme has so
far proved very effective for a number of businesses in the
region, to accelerate their rate of growth and maximise their
potential. Of course the angels are experienced business people
in their own right who bring expertise as well as investment
to the company. There are also wider implications for the
local economy as additional investment can help companies
think on a bigger scale, bringing more commerce to the South
West through the development of new innovative products or
increased international trade."
Phillip Tellwright, SWAIN network director said: "We
have been delighted to co-host our first joint event with
Business Link Devon and Cornwall. The response we have seen
today is indicative of the Business Angel activity in Devon
and Cornwall and reflects the hard work that Colin Sawer and
Bruce Colley have put into the local area. The combination
of the well established local presence of Business Link Devon
and Cornwall and SWAIN's rapidly developing regional network
have been key to the success of this event, which will be
the first of many."
Anyone interested in participating in Business Link's
Business Angels Network should contact Colin Sawer at Business
Link on 0845 600 9966.
For further information please contact Maxine McAdams of
the Marketing-PR Company on 01566 771860 or email: firstname.lastname@example.org.
The Objective One Programme for Cornwall and the
Isles of Scilly has invested in Business Link through the
European Regional Development Fund (ERDF) and European Agricultural
Guidance and Guarantee Fund (EAGGF).
Business Link provides a free information
and enquiry service via an information gateway on the web
and via the telephone on 0845 600 9966 to all businesses and
those considering starting a business. Additionally It provides
impartial business advice and support through a network of
partner organisations, which it co-ordinates, and a register
of independent business practitioners. Business Link for Devon
and Cornwall delivers the national Business Link service to
the region under contract from the South West RDA.
The Learning and Skills Council (LSC) exists
to make England better skilled and more competitive. It is
responsible for planning and funding high-quality vocational
education and training for everyone. It has a single goal:
to improve the skills of England's young people and adults
to world-class standards. Their vision is that by 2010, young
people and adults in England have the knowledge and skills
matching the best in the world and are part of a truly competitive
workforce. Established in 2001 the LSC works nationally, regionally
and locally from a network of offices across the country.
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