Business angel investor campaign ‘Be an Angel’ launches
British Business Angels Association and government enterprise advisor Lord Young behind new initiative
The British Business Angels Association (BBAA) today launched its online campaign to tease more business angels out of the UK’s high net worth population.
Britain’s trade body for angel and early stage investing, along with the government’s Business Innovation & Skills (BIS) department, hope to see a dramatic rise in the £850m wealthy individuals are estimated to invest in small businesses each year.
On the day marking the launch of the StartUp Loans scheme, covered on Startups.co.uk, and Lord Young’s Make Business Your Business report, Be an Angel will aim to bolster the number of individuals willing to take advantage of the 50% tax break to back small businesses.
Chancellor George Osborne confirmed the Seed Enterprise Investment Scheme (SEIS) tax relief for investing in qualifying small companies, plus up to 28% capital gains tax avoided on earlier gains, in March’s Budget. A month earlier, prime minister David Cameron had issued a rallying call at a meeting with angel investors, saying “Your country need you, really needs you”, signalling the government’s concerted drive to increase investment in smaller companies.
The BBAA-led ‘Be an Angel’ platform provides potential business angels with information and advice about the realities and possible rewards, the process of investing, and tips from existing angels, as well as a series of case studies.
Interested individuals can also download information about pitching events and sources of finance for entrepreneurs around the UK. Targeted events and workshops will also be scheduled to aid those who decide to explore angel investment as a serious pursuit.
Lord Young initiated the campaign following a meeting with the BBAA and as an active angel investor himself, commented: “I know from experience of being a business angel that there are tremendous opportunities and rewards from angel investment in dynamic small firms.
“The very generous incentives offered through tax relief like the Seed Enterprise Investment Scheme mean rewards for investors can now be even greater.”