Angel investors land in Blackburn

Haworths Chartered Accountants held its third Lancashire Business Angels event, attracting more than 30 angel investors and bringing a potential £30,000 and £500,000 investment into SMEs in the region.

The invite-only event saw five North West based companies pitch in a ‘Dragon’s Den’ style scenario to business angels, venture capital companies and other organisations looking to make investments in young, innovative companies.

Paul Spencer, director at Haworths Chartered Accountants said: “This is the only forum in Lancashire where exciting business investment opportunities can be showcased.

“We have created an environment where we bring together companies looking for investment with a large audience of serious investors. So far we have seen a number of companies benefiting from capital investment with lots of interest in others with potential offers in progress.”

Several new angel investors joined past attendees at the Dunkenhalgh hotel in Blackburn to understand what new products and services the investee companies were profiling to the group.

Paul added: “Without events such as this, sound business opportunities could be missed. The evening was very successful and we are planning the next one for September/October this year.” To be eligible for Lancashire Business Angels businesses should be located in the North West and be seeking between £20,000 and £500,000 in return for an equity stake in the business. In addition, businesses need to be able to demonstrate rapid growth, have an experienced management team with a business proposition in a growing market and long term expansion plans.