Angels Made in Heaven? An Examination of the Informal Investment Market for Entrepreneurial Firms in Scotland

• Autorzy: Geoff Whittam , Paul Stuart
• Języki publikacji: EN

Abstrakty

EN

One of the well recognised problems facing new ventures and small, growing companies is securing finance. These businesses are high risk and traditional lenders such as banks are unwilling to invest. Investing in small businesses is also unattractive to the established venture capital industry. Investment levels are too low with the result that transaction costs are comparatively high. An increasing source of finance for new ventures and small growing companies is the informal venture capital market. Wealthy individuals, many of whom have an entrepreneurial or business background, and who have become known by the generic term business angel, dominate this market. (fragment of text)

Słowa kluczowe

EN

Business angel; Investing; Investment financing; Small business

PL

Anioł biznesu; Inwestowanie; Finansowanie inwestycji; Małe i średnie przedsiębiorstwa

• Czasopismo: Prace Naukowe / Akademia Ekonomiczna w Katowicach
• Rocznik: 2004
• Tom: Regions in the Process of Changes
• Strony: 103--116

Twórcy

autor

Geoff Whittam

autor

Paul Stuart

Bibliografia

• Bank of England: Finance for Small Firms – An Eight Report. London 2001, p. 37
• Bank of England: Financing of Technology-Based Small Firms. London 2001.
• P. Coveney, K. Moore: Business Angels: Securing Start Up Finance. John Wiley and Sons, West Sussex 1998
• D. Deakins, R. Sullivan, G. Whittam: “Developming Business Start-up Support Programmes: Evidence from Scotland”. Local Economy 15,2 (2000): 164
• D. Deakins, E. O’Neill, P. Mileham: “The Role and Influence of External Directors in small Entrepreneurial Companies: Some Evidence on VC and Non-VC Appointed External Directors”. Venture Capital 2.2 (2000): 124
• L. Freear, J.E. Sohl, W.E. Wetzel, Jr: “Personal Investors in the Venture Capital Market”. Entrepreneurship and Regional Development 7 (1995): 88
• HMSO: Report of the Committee on Finance and Industry, chaired by Hugh Pattison, Macmillan 1931
• KPMG: Investment Networking. Glasgow, Scottish Enterprise 1992
• C.M. Mason, R.T. Harrison: “Business Angel Networks and the Development of the Informal Venture Capital Market in the UK: IS There Still a Role for the Public Sector?”. Small Business Economics 9(1997): 111-123
• C.M. Mason, R.T. Harrison: “Informal Venture Capital: A Study of the Investment Process, the Postinvestment Experience and Investment Performance”, Entrepreneurship and Regional Development 8(1997): 105-125.
• P. Moran: “Personality Characteristics and Growth-Orientation of the Small Business Owner-Manager”. International Small Business Journal 15,1 (1998): 17-38
• Scottish Enterprise: The Business Birth Rate Strategy. Scottish Enterprise, Glasgow 1993
• Scottish Enterprise: The Business Birth Rate: A National Enquiry. Scottish Enterprise, Glasgow 1993
• Scottish Enterprise: The Business Birth Rate 2000. Scottish Enterprise, Glasgow 2000