The Association of Chartered Certified Accountants (ACCA) (http://www.accaglobal.com) seems to think so. In fact, Robin Jarvis, Head of SME affairs at ACCA, said ‘For years individual equity investors have been out of the limelight, first hit by the dotcom bust, then crowded out by easy credit and now discouraged by the economic climate’ in the Financial Times on 14th September 2009. (http://bit.ly/8UCnyr)
The ACCA have proposals for helping entrepreneurs to create realistic valuations of their businesses, greater support for business angel networks and improvements to tax incentives, notably the Enterprise Investment Scheme.
Maybe it’s entrepreneurs that need wings to get their new ventures off the ground. Although, Geoff Britton, director of GBAC Accountancy & Business Service (http://www.gbac.co.uk), warns ‘Create an environment where businesses prosper’ but ‘don’t over-assist’.
But where do you find a business angel (with or without wings)? You could start with the British Business Angels Association (BBAA) (http://www.bbaa.org.uk) or if you are looking for something between business angels and venture capitalist, at British Private Equity and Venture Capital Association (BVCA) (http://www.bvca.co.uk) or you could try MMC Ventures (http://www.mmcventures.co.uk)
Time to belt up and get ready for take off!