By Mark Abernethy
The unique company angels have been the non-public traders who flew in as though from nowhere to supply monetary aid for brand new York's Broadway productions. Now the time period refers to a person who invests in a small company with both their capital or their services. A semi-retired accountant may possibly make investments $50,000 in a retail outlet and act as its monetary director. A 30-something advertising guru invests $30,000 in each one of 3 junk mail businesses. the fashion is in the direction of humans taking an early retirement, with a large nest-egg and an outstanding shop of workmanship. at the different facet are the 700,000 small companies who want either capital and services, yet who locate it tricky to discover and manage to pay for them. this article explains the idea that and perform of this sort of direct funding: why angels are wanted, how companies and angels meet, their courtship and negotiation, how they need to co-exist and the way to half amicably.
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The ABS statistics bear this out. ’ (Australian Bureau of Statistics: Characteristics of Small Business, 1996) The picture of a small-business community lacking in management acumen is further compounded in the same ABS document, which shows that only 18% of small businesses have a business plan and only 89% of them adhere to it. Furthermore, the 12-month survey found that 76% — or 605 000 businesses — consulted some form of external advisory service in the survey period; 65% of small businesses consulted an accountant.
Most of these people are not cheap when sourced through the open labour market. But where their services can be traded for shares of an innovative growth company, they can become angels. A classic 46 WHY DO BUSINESSES NEED THEM? example we found of this sort of angel contributing skills and expertise for a ‘cut’ of the company comes from the USA. Sanjiv Sidhu, an Indian immigrant, left his job at Texas Instruments in 1988 and started a company called i2 Technologies from his Dallas apartment. For two years he worked on inventory flow software which he hoped to sell to large manufacturers.
Martin Madden: Capital Market Deficiencies and Impact on Small and Medium Sized Enterprises, Arthur Andersen, 1995 There are few small companies in Australia that have not at some time experienced cash-flow problems. For some companies it is a cyclical problem that occurs in March and August. In manufacturing, mining and construction the cash-flow problem areas exist according to demand and economic factors. In the agricultural sector a cash-flow crisis can exist for years, dependent on weather conditions, commodity prices and trade factors.
Business Angels by Mark Abernethy