IBA 2009 Winter Workshop

On 20th January we held our latest Winter Workshop kindly hosted by NESTA. 

The IBA’s 4th Annual Winter Workshop on 20th January hosted at NESTA’s London headquarters offered an opportunity for over 100 policy makers, experts and practitioners in the early stage investment market to review the challenges of the current economic climate.

A key focus of the debate was how the industry could collaborate to sustain a positive outcome for early stage investment through 2009 - and beyond. Whilst recognising that the Government has now launched its latest package this week to ease the impact of the credit crunch  on small business with the £10 bn working capital scheme in partnership with the banks including the new Enterprise Finance Guarantee Scheme , together with the £75m Enterprise Capital fund for small firms that need equity, Anthony Clarke, Chair of IBA stated, “ At this time of extreme challenge for the survival and growth of early stage companies, there is an even greater need to recognise the importance of  Business Angel investment and to capitalise on their funding and business building skills as a direct complement to this package of Government measures. Angel equity investment is frequently made alongside bank loans and other forms of debt finance as part of a balanced finance package to meet SMEs early stage funding needs.

After a morning looking at macro-economic issues with speakers from London Society of Chartered Accountants, CBI, BERR and HM Treasury, the afternoon focused on practical steps that can be taken by angel investors and early stage VCs.  Notably Simon Walker, CEO of the BVCA  made a rousing call for joint action between BVCA and IBA to support the role of Venture in the growth of the economy in the year ahead:   “  With new government initiatives to stimulate the right conditions and aid this encouragement, plus wider support more generally for what we do, we will be in an even better position to build businesses and contribute to job growth – the two critical parts of our compelling story , particularly at this time in the economic cycle. Given the problems around the option of funding from Banks, the answer for future business investment and growth has to come from our two communities plus Government. We will increase the pool of capital from new and existing investors, we will create new businesses, which will in turn create new jobs and push through to the recovery”. 

Please find below the brochure, presentations and speeches below:

• Winter Workshop Brochure
  
• Mark Turner - Head of Access to Finance Policy Team, BERR
  
• Susan Matheson - Head of SME Growth and Enterprise Tax Team, HM Treasury
  
• Simon Walker's Speech - Chief Executive, BVCA