Читать книгу How To Become A Business Angel - Richard Hargreaves - Страница 10

Innovation and the founding of new ventures are crucial to economic development because successful new companies create both wealth and jobs.

‘The Vital 6 Per Cent’, a 2009 NESTA report, highlighted the importance of the small number of fast-growing businesses that between 2002 and 2008 generated the lion’s share of employment growth in the UK. These businesses were in all sectors and included established firms and start-ups, small businesses and large ones.

A follow-on report in 2011 entitled ‘Vital Growth’ argued that high-growth businesses remain vital to the economy. However, it highlighted some challenges that such businesses face. In particular, they have both a greater need for capital than lower growth firms and, ironically, may find banking harder. Coupled with this, the report found there had been a sharp decline in risk capital funding in the UK since 2008.

Angels are an essential and growing source of funding to the smaller and younger members (and potential members) of this high-growth group because of the absence of alternative sources of equity capital.