UKBAA CEO Jenny Tooth’s bi-weekly update – 25th July
As we scorch in the height of the current heatwave, we are contemplating the launch of Boris’ hot new Ministerial team ready to push through sweat and tears to achieve Brexit by end of October. With this newly formed group totally focused on achieving the end result come what may, we can only hope that they will have a close regard for the impact on investors and the small businesses that we back in our economy when making their decisions in the coming weeks.
We will be keeping in touch with key developments at UKBAA and making links with the new team with a view to ensuring an effective environment for entrepreneurial finance here in the UK and maintaining the existing tax and support system. We know that the regions outside the Golden Triangle will be most significantly affected if we have a no-deal and at UKBAA we will continue our efforts to build Angel capacity in the regions and will be specifically supporting the roll out of the new Regional Angels Programme and the Regional Angel Investment Accelerator Pilots over the coming months.
We will remain focused on increasing the diversity of the investment base and in building more Women Angel investors as a vital untapped pool of finance and investment. The regions are especially lacking women Angel investors and so, following on from our recent National Women In Angel Investment Forum, we will be organising our next Forum in Manchester in October, to enable more women in the Northern regions to understand about this opportunity.
As many of you know, there is a continuing challenge for women founders to access the finance they need to build their growth businesses. UKBAA has been supportive of the recent Alison Rose Review carried out on behalf of Treasury and I have now joined the new HMT Advisory Board to take forward key recommendations. An important aspect that we have been working on is the development of a new Investing in Women Code and which was launched last week at 11 Downing St. The Code is a commitment to support female entrepreneurship in the UK by improving access to advice, resources and finance for women entrepreneurs The Code was launched last week at 11 Downing Street, with the full support of Philip Hammond and his fellow Ministers aims to encourage Banks, VCs and Angels groups to provide data and to develop clear practices to increase resources and support to women entrepreneurs. We hope that Boris and his new Chancellor Sajid Javid and will continue to back this important initiative.
If you are an Angel group or VC, I do encourage you to sign up to this code in the coming months and we will be working in the coming weeks on guidelines for appropriate data and practices relevant for angel groups and early stage investors.
So it remains for me to say Keep Cool; Keep Calm and enjoy the rest of the Summer .