Michael Taylor
Editor of North West Business Insider
In Focus: More questions than answers
Michael Taylor, editor of North West Business Insider, looks at the major issues circling the region's dealmaking community.
This blog is ostensibly about the deals market – I tend to write about issues that affect those people who buy and sell companies, are involved in that process, or who are lurking around those that do, with an eye on the value they have created.
For the rest of the year I’m going to look in a little more detail at a few different themes that have emerged as strong trends in the regional market. I’m interested too in using this forum to bat ideas around. I’ll be going on my holidays this week, so I’ll let this blog hang there for a few weeks to let people chew on the issues.
Alternative funding networks
I’m currently putting a piece together for our print magazine on different funding streams – angel networks, specialist funds, networks like Envestors. Have these been a success? Are they a substitute for banks?
Banks
They genuinely do seem to be lending to decent propositions. Who are the most active in the market? I seem to get the PR spin on this, but I have a sense of who’s really writing new business and has an appetite for more.
Mid market private equity
Lloyds Bank has put a stop to speculation on the future of LDC, but what of Barclays Private Equity? Endless has raised a new fund, NorthEdge is believed to be actively raising, as is Palatine. Where are the opportunities going to come from?
Early stage funding
Are there enough investors around to back good ideas from start-ups with potential? Or are the start-ups just not good enough? Are the North West venture capital fund managers too risk averse?
The performance of the North West Fund
Andy Leach, the chief executive, seems delighted. The 1,000 enquiries certainly highlight an equity gap – but is there also a quality gap. What is it about the businesses that aren’t being funded? And what of the need to fund 40 per cent of the deals from Merseyside. How realistic is that?
Community
How strong are the ties that bind the North West corporate finance and professional community? How many sale mandates get dangled in front of London private equity houses without a backward glance at who may fund the deal locally? How many of the big deals by North West corporates get done by London lawyers?
Y Factor
And, of course, is there a force more unstoppable than the momentum gathering behind Paul Lupton as he plans an assault on the Y Factor challenge at Band on the Wall on 29 September?
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About Michael
Michael Taylor joined Insider in 2000 when he became editorial director. He has been responsible for overseeing the significant growth of the editorial division in this time.
Michael has played a major role in the development of Insider events, insiderbusiness.tv and is a regular contributor to BBC Radio Manchester. During his tenure as Editor of the multi-award winning North West Business Insider Magazine he has made the magazine market leader in the North West.
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