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Angels doing heavenly work for Scottish business

Category: Scotland Business News — Paul Morgan on November 14, 2012

New figures released has shown that the level of funding from business angels has risen sharply through the year; data shows that over £15 million have been invested so far.

The national association for angels in the country, LINC Scotland, has announced the figures.

They show that funding has increased by more than a quarter in the first nine months of 2012.

To September 2011, business angels in the country had invested £12.4 million. For the same period this year, investment has risen 26 per cent to £15.6 million.

Saying that angels were more committed than ever to investing in the right opportunities, the CEO of LINC, David Grahame said:

“It would appear that the economic backdrop and challenges faced by companies failing to secure funding from traditional routes, such as the banks, is creating an opportunity for the angel groups to support up and coming Scottish talent.”

In similar fashion, many factoring companies in Scotland and across the UK are also providing increased levels of funding.

The most recent figures from ABTA show that more than £16 billion is being directed into UK businesses each quarter through such facilities.

For angels investment, nearly 50 companies in Scotland saw investment in the first nine months of the year. This is another increase, of 13 per cent this time, in the total number of enterprises being supported by angels in the country today.

Of the 49 total companies, 15 were new concerns, a 40 per cent increase on the level in the same period last year.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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