Staffordshire seeks new Business Angels to support growth drive
A NEW service matching potential Business Angels with Staffordshire companies is now up and running.
The Business Growth Investment Network (BGIN) is a free online service, which aims to help create jobs and growth by connecting limited companies hungry for growth, with investors.
While several firms have already been matched with investors, more Business Angels are now being asked to come forward.
Potential investors with a passion for fostering business growth will be given the opportunity to offer their expertise and skills, as well as equity finance, typically ranging from £5,000 to £250,000.
BGIN is funded by Stoke and Staffordshire Growth Hub and is run by Staffordshire Chambers of Commerce on behalf of a consortium involving the Stoke-on-Trent and Staffordshire Local Enterprise Partnership, Staffordshire County Council, Stoke-on-Trent City Council and the Stoke-on-Trent and Staffordshire Growth Hub.
The chamber said that with bank lending having fallen as a result of the downturn in the global economy, it was more important than ever that the business organisation and its partners found innovative and alternative ways of generating wealth to aid economic growth in Staffordshire.
“The BGIN scheme encourages investment in terms of money, time and expertise to support Staffordshire businesses with the potential to grow,” said Sara Williams, chief executive of the Staffordshire Chambers of Commerce.
“We have now begun the process of matching angels with companies and we are actively seeking the support of more high-worth business people who have a passion for fostering business growth.
“While the businesses which will benefit must be based in Staffordshire, the blue-chip investors can come from anywhere in the UK. A passion to develop Staffordshire, borne from a knowledge and affinity to the county could be a huge help, but we would be delighted to hear from would-be investors from elsewhere who want to help companies in our county.”
Business Angels looking to invest in local companies should register at http://www.bgin.org.uk/ where they will be able to search postings for suitable opportunities and express an interest in proposals.
Businesses looking to use the service should also register on the site. Once registered, they can post their requirements on the website with a view to attracting an angel investor.
The website also allows for professional services companies, including solicitors and accountants, to make applications on behalf of their clients.
Anyone seeking to get involved with the Business Growth Investment Network should contact Kathy Poole, BGIN Administrator by telephone on 01782 213929 or by email at kathy.poole@staffordshirechambers.co.uk
