LBV 61: Funding Guide Part Two
Business Angels take flightLancashire Business Angels is designed to bring together investors and entrepreneurial high-growth Lancashire-based businesses who are seeking alternative routes to funding. A number of networking events are held throughout the year at the Dunkenhalgh Hotel in Clayton-le-Moors.Haworths Chartered Accountants directors Paul Spencer and Mark Schofield, and non-executive director David Roberts conceived the idea, with Haworths sponsoring and organising the events.
“We devised the event because we were working with more and more great businesses that were looking for early stage investment funding, and on the flip side we had connections with high net worth individuals and venture capital organisations that were looking to invest,” says David Roberts.“As traditionally the investor networks in the North West were Manchester centric, it seemed to us the natural thing was to bring all this together in a Lancashire base and the Lancashire Business Angels Network was born.”
Since the first event two years ago, the network has developed significantly, and attracts investors and investee companies from across the North West as well as its Lancashire base. “Because of the quality of investors we had visiting, and the success we were having matching investors and those requiring funding, we were bombarded with companies looking for investment from across the North West, and nothing breeds success like success,” says Paul Spencer.“At the last event we had representatives from a good number of the region’s venture capital organisations as well as business angel investors with a whole range of investment appetites. “All investee companies do a ten-minute ‘Dragons Den’ style presentation to the investors and if investors are interested they make contact with the companies after the pitch and take things from there.” Paul added: “All businesses attracted some interest and I am sure some of them will receive funding. It really is great to think we are helping to put Lancashire on the map in terms of investment and business funding.” To view the Funding Guide in full from LBV 61 Mar/Apr 2015, please click here.