Business angels are flying in the North West

AS traditional sources of funding become even more difficult to obtain companies across the region are being encouraged to tap into business angel  finance.

Each month the Northwest Business Angels Investor Club, which is funded by the Northwest Regional Development Agency, meets to offer firms access to individuals who are looking to invest in fledgling businesses.

The companies have an opportunity to pitch their ideas to the angels and secure funding of anything from £10,000 to £50,000.

Last month’s meeting at Haydock attracted 50 investors who watched seven presentations from capital-hungry companies.

Steven Broomhead, chief executive at the NWDA, said: “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 business angel investment includes TV production company Yo Yo Media which was  Set up by Jo Hallows, formerly head of drama at Mersey Television.

Jo said: “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, who recently showcased their products at the BRIT Awards and Lancashire-based Holiday Experts – a network of experienced travel industry professionals.

The next Northwest Business Angels Investor Club meeting will take place on March 25 at Stanley House Hotel. For further information, or to register visit www.nwbusinessangels.co.uk or call 01925 400 509.