Angels hear how to fly

BUSINESS and financial support must go hand in hand in order for start-up businesses to grow, a government representative told a Yorkshire audience.

Speaking in Leeds at the winter workshop of the British Business Angels Association, Emma Ward, enterprise director for the Department of Business Enterprise and Regulatory Reform (BERR), said it was also vital to encourage enterprise among women and ethnic minority groups.

Ms Ward said: “The enterprise directorate within BERR has the strategic lead in Government for developing policies to encourage an enterprise culture and a business environment favourable to start up and growth.

“The key challenges for the future are increasing social and mainstream business growth and encouraging enterprise among women, ethnic minorities, and harder to reach groups.

“We recognise the importance of finance and business support in enabling businesses to succeed and these two factors need to operate alongside one another in order to ensure business start up and growth.”

'Business angel' is a term used for individuals who want to invest their finance and experience in supporting early stage entrepreneurs, often in return for equity in their business.

Yorkshire boasts the Yorkshire Association of Business Angels, an organisation which provides a forum for business angels to network and collaborate on investments.