22nd June 2018

British Business Bank and UKBAA launch national initiative for SMEs

The British Business Bank, in association with the UK Business Angels Association (UKBAA), is establishing a new commercial programme to support developing clusters of business angels outside London.

Alongside this launch, the UKBAA is hosting their flagship Global Angel Investment Summit and Annual Angel Investment Awards as part of the 9-day International Business Festival in Liverpool. The summit will explore the impact of emerging technologies in the SME landscape, as well as how SME leaders can attract the attention of overseas investors – crucial to the economy as Britain moves to leave the EU.

The Global Angel Investment Summit follows new research from the British Business Bank, conducted in association with the UKBAA, into the current angel investment landscape. 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; 93 per cent of those surveyed said that it was essential that entrepreneurs possessed the right skills and experience, while 89 per cent 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 per cent of angels in London, and a further 22 per cent in the South East it follows that 43 per cent of all angel investment takes place there.

Jenny Tooth OBE Chief Executive, UKBAA, 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.”