Providing a superior service which is accurate,
correct and on time. Honest, responsible and
above all, local to you.



Other areas we cover

Call us now to arrange a free
initial consultation meeting.
For more info call us on:
0151 353 7129
The Local Bookkeeper and British Business Angels Association have joined forces to help small businesses gain funding

London, UK (08/04/2009)

The Local Bookkeeper has been granted associate membership to the organisation that will allow them to support small businesses through the process of gaining new funding from business angels as well as provide a follow up service after the investment has been granted.

A recent poll from The Local Bookkeeper found that 74% of businesses are currently seeking funding and, since the banks have cut funding to one in three small businesses recently, (according to a report by The Federation of Small Businesses), business owners are beginning to realise that they do have other options. A refusal from the bank does not mean the end of the line.

Businesses may actually benefit by investment from business angels who will often not only make capital available to the business owner but also provide invaluable advice and contacts.
 
Because of the personal investment of a business angel, they have an interest in seeing that the business is a success to ensure return on their investment, unlike your bank manager who has no personal interest.

However, do not think that approaching a business angel will be any easier. These individuals are usually hugely experienced, extremely knowledgeable and will have an understanding of many businesses. Those who think they can ‘talk’ money out of them will be met with a big surprise, applicants must know their own business inside out and be ready to give every last honest detail about their business, upon command.

The business angel will only invest if a business is extremely well-organised and, most importantly, has growth potential with a capable management team to facilitate this. When approaching a business angel, you must be well equipped with an excellent business plan, management accounts and a presentation to allow the business angel to assess your capacity for investment.

There are many viable businesses that should be rewarded with funding but the business owner does not have enough financial awareness to be able to fully understand his or her situation and therefore cannot give a comprehensive proposal to the investor.
 
The Local Bookkeeper can help businesses who are seeking funding, to prepare their accounts and business plans ready to pitch. Without these, it would be virtually impossible to achieve the funding they require.
 
Management accounts will give the business owner the transparency to show the business angel their true situation and justify the new funding. These will also be essential on an ongoing basis if the investor wants to compare it against the business plan and to keep the investor updated with the growth of the company. This will almost inevitably be part of the investment terms and conditions.

The Local Bookkeeper will also be able to liaise with the business angel to advise them on your operating situation.

Together, these two organisations will be able to place many deserving businesses on the path to secure funding that facilitates their growth and unlocks their potential success.

About The British Business Angel Association (BBAA)
The BBAA was created in 2004 and receives some support from the UK Government as well as a number of sponsors from the early stage industry.  It has a growing membership consisting of 22 Business Angel networks, 20 Early Stage Venture Capital funds, and over 30 professional advisory businesses, policymakers and academia.  

The BBAA is driven by a board of high calibre individuals from within the industry and supported by a network of 4 Committees whose membership comes from within BBAA, meaning that members have not only a voice in the direction of the association, but also help drive forward and shape BBAA policy. http://www.bbaa.org.uk

 



View all articles »
To subscribe to our RSS feed please click here.