Partner Article

Cameron reaffirms support for business angels

Manchester Business Growth were represented at a round table discussion on business angels with the Prime Minister last week.

Chris Greenhalgh, manager of the Business Growth Hub in Greater Manchester was among a select group of guest to attend the discussion at number 10, where they met David Cameron and Lord Young of Graffham , Enterprise Adviser to the PM.

The panel talked about the increasing role of business angels in supporting the growth of businesses, and Mr Cameron re-affirmed the Government’s desire to support Angel investors.

It was also discussed how Government could build tax incentives like the Enterprise Investment Scheme, and the shortly to be launched SEIS (Seed Enterprise Investment Scheme), due to commence in April.

Mr Cameron said: “It will be new business creation that will drive jobs and success for the future. I think this agenda is more important than ever when you look around the world and you see how businesses can go from an idea in someone’s brain, a practical bit of work in someone’s garage to a multi-billion pound business in just a few years.

“I think that is the exciting potential of what new businesses and business start-ups provide. The people in this room are absolutely essential to Britain’s economic revival and I hope that it’s recognised that the government is trying to do what it can to help Angels and business investment.”

The Business Growth Hub encompasses North West Business Angels, one of the first Angel networks in the UK, and a founding member of the British Business Angel Association.

Chris Greenalgh added: “Business Angels are playing an increasingly important role as a key source of finance for small rapidly growing businesses and for the skills and expertise they offer
entrepreneurs to help them to develop and grow.

“This event was designed to reflect Government’s work to stimulate an active and supportive market for angel investment and forms part of the work Lord Young is leading to help promote and improve the conditions for small business and enterprisein the UK.

“It was also an opportunity for the Angels to discuss what more government could do to promote
and improve the conditions for new and small businesses to flourish and grow.

“North West Business Angels and other networks in the region have an important role to play in providing opportunities for these businesses to connect with investors.”

This was posted in Bdaily's Members' News section by Tom Keighley .