The UK Business Angels Association, in association with the British Business Bank, has launched a new commercial programme to support developing clusters of business angels outside London.
The Global Angel Investment Summit follows new research from the British Business Bank, conducted in association with the UKBAA.
The report shows that when investing into an SME, above all else, angels value the ability of the entrepreneur – even ahead of the business plan. What’s more, 93% of those surveyed said that it was essential that entrepreneurs possessed the right skills and experience, while 89% viewed the potential of the business to achieve growth and scale as the biggest factor.
The report also found that, overwhelmingly, the angel landscape is dominated by London and the South West. With 35% of angels in London, and a further 22% in the South East it follows that 43% of all angel investment takes place there.
Jenny Tooth OBE Chief Executive, UK Business Angels Association said: “The findings of this report show extremely positive signs of continuing growth in the angel market, but many regions continue to show an underserved level of angel investment. We therefore welcome the British Business Bank’s implementation of this major new commercial investment programme to stimulate new regional business angel clusters.
“At UKBAA, we are complementing this important initiative with capacity building actions, including new regional Angel Hubs, combined with our new national e-learning programme on angel investing.”