Angel investors look to Grimsby-area for opportunity
26th January 2018
ANGELS descending as Christmas arrived may be nothing new for nativity-focused primary schools across the South Bank, but investors looking for business opportunities made for a novel visit that looks set to be the first of many.
Angelgroups, a connected network of high worth individuals across northern England, has launched a Grimsby group, in association with Wilkin Chapman, Forrester Boyd and Investment Hub NEL.
Martin Avison, founder, said: “I am delighted to bring such opportunities to the region and welcome the support of our associates. We are a peer network of high net worth and sophisticated investors who provide much more than simply investment. It is about providing smart money, whereby our angel investors also provide mentoring and support, realising significant benefit to the business."
Angelgroups is now established in Leeds, Sheffield, Hull and York, with Grimsby part of the plan to further grow the network across England. Last year it ran 30 events to bring investment and opportunity together.
Working with the two professional firms, nearly 50 potential investors have initially been identified, with Wilkin Chapman hosting the first event at the Cartergate HQ.
“There is a huge amount of money out there, with huge tax incentives to help investors too,” Mr Avison said. “Angels tend to look within 40 miles of where they live, and most angels say the same thing, they are looking for local businesses to help and support. They want to help and see the area flourish.”
Of the model, he said: “We run regular pitching sessions for the businesses to get in front of active angels as well as an online platform for our members to review opportunities,” he explained. “It is more than a simple pitching session though, it’s about running educational sessions for individuals who would like to know more about being an angel; covering such topics as shareholder agreements, minority shareholder rights, the latest research from the UK Business Angel Association, how to be a lead angel and Seed Enterprise Investment Scheme and Enterprise Investment Scheme tax relief – all delivered by our associates.”
It was timed well too, with the Government’s Industrial Strategy, published in November, outlining how the British Business Bank is looking to support developing clusters of business angels outside London. Feedback was described as fantastic from the inaugural gathering.
Paul Gray, head of business development at Forrester Boyd, said: “This is a great opportunity for businesses in northern Lincolnshire with the potential for fast growth, not only to secure funding but with the expertise of investors on board to help them deliver their business plan.”
Mr Avison is now reaching out across the region and looking for more potential angels and businesses who are looking for investment and support.
Adam Ottley, corporate and commercial solicitor at Wilkin Chapman, added: “Grimsby offers some attractive opportunities for those businesses willing to engage in its future and I see the arrival of Angelgroups to the region as another strong indication of its attractiveness to potential investors from the area.”
The next event takes place on February 20. For more information contact Martin Avison at email@example.com.
News Courtesy: www.humberbusiness.com