Business angels “essential to economic revival”, says Cameron
PM also issues open invite to suggest pro-investment policies
David Cameron has averred that angel investment is a paramount source of capital for today’s start-up entrepreneurs.
Speaking to a gathering of prominent angel investors at Downing Street, Cameron said that his audience is “absolutely essential to Britain’s economic revival”. The prime minister then invoked Lord Kitchener to tell his audience: “your country needs you, really needs you”. In addition to his rousing call-to-arms, Cameron discussed the government’s much-publicised Seed Enterprise Investment Scheme (SEIS), and invited attendees to come forward with any suggestions for further investment stimuli, ahead of next month’s budget. He said: “The job [of drafting the Finance Act] is never done. So, if you have any proposals to help make this agenda really motor, give us those ideas.” Driven by the ongoing impasse between Britain’s banks and small businesses, angel investing has boomed in recent months. According to new figures from the British Business Angels Association (BBAA), the UK angel investment market is now worth around £800m per annum – twice as much as the sum invested each year by seed and early stage venture capital funds.