Entrepreneur takes on the role of Angel

10:44am Tuesday 22nd July 2008

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AN entrepreneur based in the North-East has been appointed to the national board of a Dragon’s Den-style business organisation.

Alistair Arkley, who heads Billinghambased New Century Enterprises, is joining the board of the British Business Angels Association.

Business Angels consists of investors who, on their own or as part of a syndicate, put money into potentially high-growth businesses.

Mr Arkley stressed that the role of Business Angels was much more than simply providing investment and often providing expertise and advice was as important as finance.

Mr Arkley said: “I think that perhaps programmes like Dragon’s Den can give a somewhat distorted picture of the role we play.

“Of course these kind of investments involve a level of risk which other sources of business finance, such as the banks, are not prepared to accept.

“Business Angels are prepared to take the risk because they have the resources and recognise the potential for significant returns, but it is not simply about money.

“Many of the people who become Business Angels do so because they want to put something back into their community, and the relationship they have with the people they help is generally more supportive than confrontational.

“Obviously, the funds which individual investors can provide are often crucial to deciding whether or not a business can actually get off the ground, but the knowledge and experience which Angels can bring to a fledgling company is often just as valuable.

“I am especially pleased that I and others can help to encourage enterprise and entrepreneurship in the North-East because that is what holds the key to our economic future.”