Angels help to fill AWM funding gap
Business angels are taking up some of the funding slack which has resulted from the decision to close down regional development agency Advantage West Midlands (AWM).
That’s the view of Steve McEwen, the Midlands regional director for the business angel network Beer & Partners,
With AWM’s reduced capacity to offer financial support as it winds down, there has been a fear that this could leave a considerable funding gap.
But McEwen is confident that this will not be the case. “There is an increasing number of business angels in the region eager to invest in capable entrepreneurs with quality businesses,” he said.
“At Beer & Partners we are currently seeing high net worth investors join our network at a rate of one new investor every working day. We find that investors are bored by the lack of activity in traditional markets and they are growing increasingly suspicious of managed funds, preferring to trust their own judgment when deciding where to place their money.”
