Business

Finding a business angel

Comments Off on Finding a business angel 30 January 2011

Business angels are tricky to find and this is one of the main problems. Many are fiercely secretive of their identities in an attempt to avoid being swamped with requests for funding.

The most obvious place to start when you are looking for an angel is with your friends and family – it may be that your own personal contacts are enough. Start by making a list of business contacts – this could include accountants, lawyers, bankers, or other advisers who may have access to potential investors. Sometimes, advertisements or cold calling business angels can work, however you should also approach relevant people in your industry. It’s also worth utilising any networking opportunities that you can.

There are a number of angel networks all over the country. These tend to operate within a relatively small geographical area. For example, these might be specific to particular cities or might cover an entire region, for example, the whole of Wales.

The purpose of Angel networks is to act as an introduction agency, matching entrepreneurs or businesses looking for equity finance with potential investors. They will be able to offer advice on what the general requirements of angels are. They may also help, sometimes for a fee, with putting your business plan together, or improving your existing one.

If your company fits the investment criteria, you may get the chance to pitch your idea at an investor forum, where angels come to listen to the presentations of lots of different businesses. There is, of course, no guarantee of receiving investment, even if you get to this stage.

In addition, there is also the British Business Angel Association (BBAA) which has evolved from the National Business Angel Network. This was launched in 1999 to match investors and companies throughout the UK.

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