Business Angels by Mark Abernethy

By Mark Abernethy

The unique company angels have been the non-public traders who flew in as though from nowhere to supply monetary help for brand spanking new York's Broadway productions. Now the time period refers to an individual who invests in a small enterprise with both their capital or their services. A semi-retired accountant could make investments $50,000 in a retail outlet and act as its monetary director. A 30-something advertising and marketing guru invests $30,000 in every one of 3 unsolicited mail businesses. the fad is in the direction of humans taking an early retirement, with a large nest-egg and an outstanding shop of craftsmanship. at the different facet are the 700,000 small companies who want either capital and services, yet who locate it tough to discover and come up with the money for them. this article explains the concept that and perform of this sort of direct funding: why angels are wanted, how companies and angels meet, their courtship and negotiation, how they need to co-exist and the way to half amicably.

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The inappropriateness of going public does not suggest anything weak or unsuccessful about the business. In 1986 a growing British media and transport company floated to finance its new airline. The market did not respond, and the company had to buy £6 million of its own shares to keep the stock alive. The company’s float was then hit by the 1987 stock market crash and the airline company bought the stock back from the public for £248 million. The company was Virgin Atlantic Airlines, Richard Branson’s business, which is thriving today.

Legal constraints on super fund trustees talk of ‘diligence’ and ‘care’ in the way the funds are managed and invested. And so it should be. However, the paltry trickle of capital available to growth SMEs from the super funds means that many companies are called, but few are chosen. The lack of capital made available is exacerbated by the investment criteria for those companies able to get their ‘foot in the door’. Venture capitalists (as discussed in Chapter 1) are most interested in advancing capital in the $2 million to $10 million range.

Indeed, for many angels, the role they play will not only make them accountable because their own money is in the business, but they have already selected a specific area of accountability in which they can add value and grow the business. Rob Inglis, one of the facilitators of Sydney’s Australian Business Ltd’s business angels meeting service, tells us that both the companies and the angels see capital as the first point of commonality: the business needs it, the angel wants to make it grow. However, Inglis says businesses and angels always have, as a secondary concern, the expertise of the angel and how it can be applied to the company.

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