24 March 2009
Business Angels booming in England’s Northwest
The entrepreneurial spirit that shines in England’s Northwest
remains as powerful as ever, with a surge in popularity for
Northwest Business Angels.
Funded by the Northwest Regional Development Agency (NWDA), the
Northwest Business Angels follow a similar concept to the BBC
programme Dragon’s Den, connecting young and growing companies
seeking financial assistance with investors actively looking for
profitable business opportunities in the Northwest.
Each month the Northwest Business Angels Investor Club Meetings
take place in venues across the region – and these are proving to
be as popular as ever, attracting an ever increasing number of
Business Angels (investors) and finance seekers.
February’s event was held at Haydock and attracted over 50
investors, eager to learn more about the seven companies pitching
to them. In a ‘Dragon’s Den’ style presentation (but to a larger
audience of Angels), investment seekers are asked to pitch their
products, services or ideas to the audience, with the chance to
secure investment of anything from £10,000 to £50,000. Typically
the investment is used to start up, expand or help build a healthy
profit.
Steven Broomhead, Chief Executive at the NWDA said:
“Investing in a growing company can be hugely rewarding –
Business Angels unquestionably bring much more to a project than
just financial assistance. They are able to offer expert guidance
and support, best practice advice and a means to turn potential
opportunities into tangible success.
“The NWDA would encourage any potential investor to join the
Northwest Business Angel Network and welcomes companies from almost
every industry sector and stage of development to present to our
Angels. This free service is truly one of the UK’s best ways to
develop your idea into a strong, successful businesses
venture.”
Recent success stories include YoYo Media - a regional
independent television production company, whose primary focus is
to specialise in devising and producing popular mainstream drama
and factual entertainment formats.
Established in 2006 by Jo Hallows, previously the Head of Drama
at Mersey Television, YoYo Media has assembled a top level team of
industry professionals to build a financially successful regional
independent production company with projected turnover of almost
£13 million by 2011.
Jo Hallows Chief Executive at YOYO media said:
“With a wealth of experience in creating successful television
programmes YOYO media was brimming with new ideas and
ambition. The NWDA offered us invaluable information and
structured guidance on how to successfully pitch to Business Angels
– their wants and their needs.
“Our presentation attracted eight potential investors and with
further investigation we secured two Angels who invested the
£250,000 needed to secure our next phase. They have not
only financially helped YOYO media blossom, but have also brought a
wealth of business acumen and contacts. We are delighted with the
support of NWDA and are now looking towards a very bright
future”
Other recent triumphs include Ultra Skincare Limited, who recently
showcased their products at the BRIT Awards; Lancashire based
Holiday Experts - a network of experienced travel industry
professionals and Incorporated Medical Recruitment a unique
recruitment service for the medical, dental and sales sectors.
The next Northwest Business Angels Investor Club Meeting will
take place on 25th March at Stanley House Hotel. For further
information, or to register visit www.nwbusinessangels.co.uk
or call 01925 400 509.
The NWDA is playing a crucial role in response to the current
economic downturn, with a number of actions being taken to meet the
needs of businesses during these financially challenging times. To
keep updated on the range of support being offered by the NWDA go
to www.nwda.co.uk/supportingbusiness
For more information on business support visit www.businesslink.gov.uk/northwest
For more information on Finance for Business please visit
www.nwdabusinessfinance.co.uk
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Notes to editors:
For further information please contact Shelley Tattersall, Press
Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk
For urgent out of hours press enquiries please call 01925
400259.
For further information and to view previous press releases visit
us at www.nwda.co.uk/press
The NWDA is supporting businesses and prioritising investments
to ensure that the Northwest is in a strong position to respond to
the current economic climate. Initiatives include:
• The launch of a £10m High Growth business support
programme
• A new £4m Innovation Voucher Scheme to help 1,000 businesses
work with our knowledge base
• Dedicated Access to Finance support within Business Link
Northwest – now available
• £140m Venture Capital Loan Fund (VCLF) - to be launched in
2009
• £40m package of support to stimulate investment in priority
skills development - to commence in 2009
• 10 day prompt-payment pledge to our suppliers to help with
cash-flow
For more information, see nwda.co.uk/business
The Northwest Regional Development Agency (NWDA) leads the
economic development and regeneration of England's Northwest and is
responsible for:
• Supporting business growth and encouraging
investment
• Matching skills provision to employer needs
• Creating the conditions for economic growth
• Connecting the region through effective transport and
communication infrastructure
• Promoting the region’s outstanding quality of life