Bridging the finance gap

A joint venture has been formed to help provide finance for fast-growing small- and medium-sized businesses.


A joint venture has been formed to help provide finance for fast-growing small- and medium-sized businesses.

A joint venture has been formed to help provide finance for fast-growing small- and medium-sized businesses.

The National Business Angels Network (NBAN) has joined forces with share trading platform OFEX and private equity investment community Angelbourse to form a partnership intending to help companies that are looking to raise between £100,000 and £3 million, in which companies cannot find sources of finance, identified by the Government. – the so-called “equity gap”.

The group’s vision involves an “accelerated development pathway”, which would allow companies to get finance in stages as they grow, rather than having to hunt for it every time they need it, thus saving valuable time and effort.

Managing director of NBAN Bernard Hallewell said, “high-potential companies have died trying to cross this ‘capital desert’ for want of a clear map. This scheme provides companies with an integrated solution so that they may seek capital from the right sources at the right time.”

SME Minister Nigel Griffiths backed the scheme, saying: “Encouraging investment in promising businesses will help them grow. Making it easier to access such funding should also help encourage budding entrepreneurs to take the plunge.”

For more information on the Single Pathway, visit the NBAN, Angelbourse or OFEX websites.

(9/2/04)

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