YABA Catalyst Newletter Spring 2011
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Transcript of YABA Catalyst Newletter Spring 2011
If you were at the YABA
investment forum in September
2010, you may remember this
company. ResusPod provides
an all in one package of
equipment and training to
dentists so they’re able to
handle potential medical
emergencies effectively. The
product package, along with the
fact that legislation has made it
mandatory for dentists to be
fully prepared for such
emergencies, made the
company a compelling
proposition.
The launch of the product at the
Dentistry Show on 04 March
was the beginning of the next
chapter for the company, which
began its life at the University of
Leeds in 2008. Company
founders, Kate Taylor and Julie
Burke, were among the first
recipients of the University’s Sir
Peter Thompson Award for
Enterprise, which provided
£5,000 to develop their idea.
The award led Kate to
undertake a Yorkshire Enterprise
Fellowship, a year long
programme of business training
and mentoring. “The Fellowship
was fantastic,” says Kate.
“I learned such a lot about
business and met some
incredible people, many of
whom have been invaluable in
our journey as a business.”
In 2010, Kate and Julie were
successful in obtaining Proof of
Commercial Concept Funding
from Yorkshire Concept, which
enabled the pair to accelerate
ResusPod’s development. “We
conducted a lot of market
research and tested the market
with the funding and it also
allowed us to take on business
manager, Mal Jarmolowicz, who
has been pivotal in moving the
company forward," says Julie.
Business angel Paul Smith and
investment partner Tim Ward
spotted the potential of
ResusPod straight away. “It’s a
good proposition and both Tim
and I have a lot of experience of
working in heavily regulated
sectors,” says Paul, “so we felt
we could bring skills to the
company, as well as finance to
help it get to the launch stage.”
Getting to launch is just the
beginning for ResusPod and
Kate says the company’s
already considering other
markets for the product.
“I didn’t think it would take this
long to get to this
point,” says
Kate. “But I
think it’ll be all
go from here
on in!”
Spring 2011
catalystNewsletter of the Yorkshire Association of Business Angels
www.yaba.org.uk
From idea to investment:ResusPod
l-r Kate Taylor, Mal Jarmolowicz, Julie Burke
2 Continental Brands investment;
Gripple Ltd profile
3 Propalms success at Venturefest
4/5 Exits: Making them work for you
6 Investment forum: Festival fringe
7 Company updates: Gapwork
and Retrogenix
8 EIS Seminar
In this issue:
A recent investment from business angels
Paul Smith and Tim Ward has enabled
ResusPod to fully launch their medical
emergency kit to the dental market.
Newsletter of the Yorkshire Association of Business Angels2 Spring 2011
Gripple LtdFormed in 1991, Gripple Ltd
produces an extensive range
of wire joiners and tensioners
from its base in Sheffield. The
company’s products are used
extensively in a number of
areas, from the construction
site to the factory and from
the farm to the supermarket.
Originally invented as a
solution to joining fence wire,
Gripple’s products continue
evolving and expanding their
uses.
Alan Somerfield is the Ideas
and Innovation Director at
Gripple Ltd. His background
is in product design and he
ran his own consultancy in the
UK for 15 years, achieving
success by designing a range
of vehicle steering locks. Alan
spread his wings and spent
several enjoyable years
working in California, joining
Gripple in 2007 on his return
to the UK.
Gripple’s latest venture, with
Alan at the helm, is Incub – an
ideas incubator aiming to help
budding entrepreneurs to
fast-track their product
concepts to market. The
recently-launched incubator’s
residents, or ‘cubs’ as they’re
referred to, are given the
opportunity to develop a
viable business within six to
twelve months, in return for
equity in their business. “It’s a
collaborative approach – the
cubs’ ideas plus our
expertise,” says Alan. “With
experienced mentoring on
hand, plus full access to
Gripple’s hardware and
business resources, the
incubator’s residents are
being given every chance of
success.”
Gripple Ltd joined YABA as a
corporate member earlier this
year and Alan is anticipating
exposure to new technologies
and investment opportunities.
“YABA is a good fit for us as
we’re both helping
entrepreneurs,” he says. “I’m
always interested in meeting
serious innovators and hope
to have the opportunity to do
so via YABA.”
Alan also wants Incub to
change people’s perception
of inventors as eccentrics in
the garden shed. “The
challenge is to show people
that innovation is a serious
business requiring planning,
strategy and dedication,” he
says. “Incub’s state of the art
ideas and innovations facility
here in Sheffield is available to
graduates, product designers
or mature individuals who’ve
spotted a gap in the market –
we’re open to all.”
www.gripple.com
www.incub.co.uk
Years of hard work in restaurants
and pubs, working his way up
from pot washer to bar manager
has paid off for entrepreneur
Simon Jackson, whose import and
distribution business, Continental
Brands, looks set for success
thanks to an investment by YABA
member Kevin Wheelock.
Spotting a business opportunity in the
growing taste for continental beers, and
using his knowledge of the catering
industry, Simon and his wife Laura
secured sole UK distribution rights for
the Greek beers ALFA and Marathon.
Further exclusive UK rights for
Portuguese, Italian and Far East bottled
and draught beers soon followed.
“Sales were good but the costs of
importing and warehousing meant we
needed some extra cashflow finance to
finalise a big new customer, but kept
getting turned down. We’d already
ploughed all our savings into the
business, and sold off assets to keep us
going through a tough 2010,” says
Simon. “It was so frustrating; we had
orders on the books and enquiries from
potential customers, so everything
hinged on raising some money.”
Simon decided to approach YABA and
an investment opportunity was circulated
to its members, which caught the eye of
Kevin Wheelock. After a period of due
diligence, he decided to invest, with the
deal structured as a loan with the option
to convert to equity later this year.
Says Kevin: “My background’s in
manufacturing, so this isn’t the usual type
of business I would consider investing in.
I’m not even a lager drinker – I prefer a
pint of bitter! But I was impressed by
Simon’s attitude, sales skills and
entrepreneurial spark. He’s a real go-
getter, who’s spotted and grown a great
opportunity in a tough industry. He’s
done a huge amount of legwork so far,
and has worked hard to make the right
industry contacts.”
Says Simon: “The investment is fantastic,
just what we needed at exactly the right
time. And just as important is Kevin’s
business experience – I know I can learn
so much from him about growing the
company.”
Simon’s original plans to sell directly to
125 restaurants – the equivalent of
importing one container load of beer per
month – have already been dwarfed by
current sales. The investment helped
secure his crucial first big deal and he’s
now selling to wholesalers too. He’s
currently importing between 40-50
containers a week and with Kevin’s
support is also in negotiations with
several large supermarkets.
CORPORATE MEMBER PROFILE
Alan Somerfield
l-r Kevin Wheelock and Simon Jackson
YABA information: 01423 810149 www.yaba.org.uk Follow us on
Continental Brands toasts new YABA investment
Newsletter of the Yorkshire Association of Business AngelsSpring 2011 3
The enterprise investment scheme (EIS) is a tax incentive
that applies to qualifying investors subscribing for new
shares in certain types of trading companies.
The rules are being changed from 01 April 2012 to increase the size of
companies that can qualify for EIS. From then on, the new proposals will
apply to companies meeting the following criteria:
• 250 employees (up from 50)
• No more than £15m gross assets before investment (was £7m)
• £10m maximum EIS investment (was £2m)
• £1m individual annual limit (was £500k).
In addition, tax relief available to individuals who invest in companies
which qualify under EIS will go up from 20% to 30% from 6 April 2011,
with a maximum possible investment of £500,000.
In view of the fact that the investment can also enable capital gains made
in the previous three years to be rolled over into the EIS, the maximum
relief on £500,000 could be as much as 58% (£30% income tax relief and
28% CGT relief).
In his budget statement on 23 March 2011, the Chancellor also
announced an intention to increase the maximum EIS relief that could be
claimed to £1m from April 2012 and to change the conditions so that
more companies qualify for EIS investment.
This article combines information from our recent business and private
budget briefings. Please visit Sagars website to read their tax facts card
and the briefings in full http://www.sagars.co.uk/news-&-
resources/5/resource-downloads/77/
Alternatively, hard copies are available by calling 0113 297 6767 or
sending an email to [email protected]
Fergus Beadle and Kate Naylor will be giving an EIS seminar for current
and prospective angel members at Sagars in Leeds on 17 May.
This year, YABA took sole
responsibility for organising and
running the Investment
Competition at Venturefest
Yorkshire.
Sponsored by Shepherd Group,
the Competition saw six Yorkshire
entrepreneurs pitching against
one another for the prize – a mix
of services, including
accountancy, insurance and legal
advice worth more than £33,000.
Businesses pitching in the
Competition faced questions from
a panel of judges which included
YABA Chair Andrew Burton,
YABA Director Peter Ball, serial
entrepreneur and investor Garry
Diver and Noel Clancy, CEO of
Shepherd FM. YABA members
also joined the finalists for a
private lunch sponsored by
Redmayne Bentley LLP.
Announced at the Awards Dinner
that evening was the Investment
Competition winner – Propalms, a
York-based provider of IT
systems which was looking for
investment to assist in its
expansion plans. Propalms,
which already has a network that
extends to 50 companies
worldwide, develops software
products to enable people to run
applications both on their
desktop computers and on other
devices. The runner-up in the
competition was Frooly.com, an
e-commerce marketplace with
social media features aimed at
local and independent
businesses. All the companies
that presented had exhibition
stands in the Innovation
Showcase alongside 20+
innovative businesses, many of
which have been in negotiations
with investors and we await news
of deal completions.
Elsewhere at Venturefest, the
static exhibition – once again
filled by key Yorkshire
organisations – provided a great
space in which to network. Aside
from this, one of the biggest
draws of the day was the Big
Debate, which primarily centred
around the role of the Local
Economic Partnerships and the
£1.4bn Regional Growth Fund.
Enterprise Investment Scheme – 2011Budget highlights from Sagars LLP
Propalms success at Venturefest
l-r Noel Clancy, Shepherd FM; Owen Dukes, Propalms;
Andrew Burton, YABA
Join us on YABA information: 01423 810149 www.yaba.org.uk
4 Spring 2011Newsletter of the Yorkshire Association of Business Angels
Exits: making them
Colin Glass is a long-standing
YABA member, serial investor
and Senior Partner in Winburn
Glass Norfolk, the chartered
accountancy practice he
co-founded in 1974. He is also
Non-Executive Director on the
board of a number of companies
that he has either advised
professionally or invested in
personally.
Colin’s expertise is in becoming involved
in early-stage companies, working with
the management team to add value and
then exiting, whether via trade sale or by
flotation. “I always encourage the main
shareholders to have an exit strategy in
mind when I start working with a new
company,” he says.
“The first thing to do, if it is not already in
place, is create a credible management
team. Usually this involves at least a Chief
Executive Officer, Finance Director and
Sales Director. A growth company should
have a Non-Executive Director who often
acts as Chairman. Any prospective buyer
will have to work with this team and rely
on them - not just the entrepreneur - to
run the business smoothly. Even a small
company should ideally have these key
people in place – it may be difficult to
achieve and may take a little time but it is
important. A buyer will also want to see
that systems and controls are in place all
through the business and for these to be
working well.”
When the time comes to exit, there are
various ways of starting the process as
Colin explains. “For larger businesses,
specialist corporate finance companies
will provide you with a list of possible
buyers. You may have your own contacts
within your sector to approach, or it’s
possible that a large potential buyer will
make the first move with a direct
proposition if it considers your business
particularly attractive. We exited the first
company that I helped to found, Datong
Electronics (now AIM-listed), after a
chance introduction through a trusted
business contact. The sale process
fortunately went smoothly as I was able to
negotiate and project-manage the deal
with the help of a good commercial
lawyer. The founders, including myself,
stayed on during the earn-out period and
left at the end of that term. The key factor
was that we had good financial
information and an excellent team from
the shop floor to the Board, which we had
built up over a number of years.”
Negotiation is very important in achieving
a successful exit – how much does a
buyer want your business and how
strongly do you want to sell? Colin
continues: “Owners of one company I
worked with wanted to exit in order to
move abroad. They didn’t want to sell to a
larger competitor who would simply take
their contracts and close the business
down, and so spent some time looking for
an alternative buyer to keep the company
going in its own right. However, if an exit
has to be made under pressure – either
of time or money – it may be necessary
to accept a lower price and to sell to an
unpalatable buyer.
When considering your exit, you need to
be realistic about what you can expect to
receive for your business. An experienced
advisor is invaluable and can help you
achieve the best price for your business
and the smoothest exit for you.”
C O L I N G L A S S
Colin Glass
YABA information: 01423 810149 www.yaba.org.uk Follow us on
Exit statisticsA report published by the National Endowment for
Science, Technology and the Arts, which was
supported by the British Business Angels
Association in 2009 brought together data from a
survey of 158 UK based private investors. In terms of
exits, it found:
• 44% of exits provided substantial rewards leading
to an average multiple of 2.2 on the original sum
invested.
• 35% generated between 1X and 5X the original
investment.
• 9% provided gains of 10X or more.
• This 9% produced 80% of cash returned.
• The average time taken from investment to exit was
3.6 years.
Please contact YABA for a copy of the full report
“Siding with the Angels Research Report 2009”
Newsletter of the Yorkshire Association of Business AngelsSpring 2011 5
work for you
Serial entrepreneur and YABA
member, Garry Diver, is Chief
Executive at Ultimedia Ltd, a
software house specialising in
e-learning, HR, web design and
e-commerce.
Garry started his first company in 1984,
after 15 years in the corporate world,
and since then has started, taken over
and sold a number of technology
businesses to high-profile buyers. Garry
also works with venture capital firms,
turning around ailing companies in the
UK and USA.
“Growing a business and guiding it to
fulfil its potential is certainly exciting,”
says Garry. “And, for me as an investor, a
successful exit is affirmation that I’ve got
it right – the investment decision,
developing the company, reading the
market and the timing of the whole
process.” Along with his successes,
Garry also has a cautionary tale to tell.
“Selling your small company to a much
bigger one presents a unique set of
challenges. Due diligence can be a
lengthy process – taking up to nine
months to complete. This removes staff
from their daily duties, possibly to the
detriment of the business itself,” he says.
Illustrating the potential pitfalls, he
continues. “A deal to acquire one of my
businesses had been signed off with a
major multinational, and the sale date
agreed. The acquisition was also
announced at a global corporate event
where I was a keynote speaker. After an
unexpected change of personnel at
senior level immediately after this, the
company pulled out of the deal at the
last minute. Despite having a withdrawal
penalty in place, it was a major setback
for me and my business partners.
However, we picked up the pieces and
sold the company 18 months later.”
Garry’s advice to angel investors thinking
about an exit is simple – trust your
instincts. “Start the exit process when
sales and income are heading up, not
when they start to flatten – there’s more
chance of a good sale. Prospective
buyers are investing in what they think
your business will be doing next year or
the year after – not what it did last year.”
February saw Mazars LLP running a
seminar for business angels about
exit strategies. The event was full of
useful information, tips and case
studies.
Oliver Hoffman and Rob Burton, both part
of Mazars’ Corporate Finance Team,
presented and discussed a range of issues
– from preparing for sale through to what
buyers would be looking for.
“One of the major factors in a successful
exit is understanding the buyer’s position,”
said Oliver. “The more they need your
business, the more they will be prepared to
pay for it. But even before you’re talking to
prospective buyers, it’s crucial that you’re
prepared. This preparation often
necessitates having an understanding of
what prospective buyers are looking for and
where the value of the business lies. By this
I mean that if you’re looking to exit a
business you must ensure the value is in
the business and not in the owners,” he
stressed. “Because if all the relationships
and knowledge are with the owners, and
there aren’t others within the business who
can take it forward just as well, the
business is much less valuable.”
Discussions followed about grooming
businesses for exit to ensure they reached
their maximum value in any negotiations.
This is important for a number of reasons,
from achieving the best price, through to
providing potential buyers with what they
want and ensuring no nasty surprises
during the due diligence phase.
Oliver and Rob also discussed the ways
they approach finding buyers. “We can
carry out some targeted research to identify
potential buyers,” says Rob. “Also, more
subtly, some careful PR and/or profile-
raising about succession planning at trade
shows can be useful.”
For angel (usually minority) investors, Oliver
stressed the importance of ensuring that
their plans are in line with those of the
majority business owners/managers. “This
should form part of your very early
discussions and be wrapped up in your
legal documentation. Be upfront, otherwise
as an investor you could be left in a weak
position with little control over future
direction and exit plans.”
G A R R Y D I V E R
Garry Diver
Join us on YABA information: 01423 810149 www.yaba.org.uk
Exit strategies – the YABA Master Class
As a fringe event to the Global
Manufacturing Festival, the March
investment forum was held at the AMP
Technology Centre in Rotherham.
Supported by Sheffield Hallam University
and the University of Sheffield, it offered a
packed schedule. As well as nine
presenting companies, a student from each
of the universities presented a pitch for
sponsorship for their entries to the Institute
of Mechanical Engineers’ Formula Student
Competition.
Presenting companies:
Colour Mobile VMS,DerbyshireCurrently the only company in the UK
providing solar-powered 5 colour portable
matrix signs, Colour Mobile VMS require
investment of £100,000 to expand their
wider market.
www.colourmobilevms.com
–––––––––––––––––––––––––––––––––––––––––––––––––
Swellaway Ltd, SheffieldSwellaway’s product is an electronic
software device in the form of a flexible
wrap which replaces the need for traditional
methods of compression treatments for
sprain and strain injuries. £100,000 is
required.
www.swellaway.com
Carrypeak Ltd t/asShapemaster, Huddersfield Shapemaster’s fitness equipment is already
a hit with care homes in the US. With a
large target audience at which to aim its
products, Carrypeak Ltd requires up to
£250,000 to increase its rate of growth.
www.shapemaster.co.uk
–––––––––––––––––––––––––––––––––––––––––––––––––
Ethicalcommunity.com, LeedsA portal for small ethical sellers to market
their goods, Ethicalcommunity.com is
looking for £200,000 investment to increase
its development team and refine the
shopping and selling experience, as well as
market the service internationally.
www.ethicalcommunity.com
–––––––––––––––––––––––––––––––––––––––––––––––––
Vidbo.co.uk, DerbyshireCreating video marketing incorporating
social networking for small local businesses
seeking to build their online presence,
£100,000 will enable Vidbo to recruit a
direct sales team and expand its concept
across the UK.
www.vidbo.co.uk
Pro Bio Healthcare Ltd,DaresburyPro Bio Healthcare produces premium
health supplements for IBS and other
conditions. The company seeks £150,000 in
exchange for equity, principally to assist
deeper penetration with current high street
retailers and boosting internet and
overseas sales.
www.probiohealthcare.com
–––––––––––––––––––––––––––––––––––––––––––––––––
Gel Doctor Ltd, HarrogateGel Doctor is a proven business, whose
main product is a liquid gel-filled insole
providing comfort and support in all types
of footwear. £100,000 investment would
enable the company to implement a sales
and marketing strategy to rapidly
accelerate its growth.
www.geldoctor.com
–––––––––––––––––––––––––––––––––––––––––––––––––
Adjuvantix Ltd, SheffieldSeeking £100,000 funding to further
develop its range of cancer vaccines,
Adjuvantix wants to take one of its vaccines
through patient clinical trials and then on to
a trade sale.
www.adjuvantix.co.uk
–––––––––––––––––––––––––––––––––––––––––––––––––
Trailer-Lift, StokesleyThis revolutionary product combines a
vehicle trailer with a built-in scissor lift,
allowing access to the underside of a
vehicle for those without access to a
workshop lifting bay. The product has
global appeal and the company requires
£500,000 to produce further units for sale.
www.trailer-lift.com
Newsletter of the Yorkshire Association of Business Angels6 Spring 2011
Festival fringe
Colour Mobile VMS
Gel Doctor
Shapemaster
INVESTMENT FORUM
YABA information: 01423 810149 www.yaba.org.uk Follow us on
Disclaimer: Investment in new business carries high risks as well as the possibility of high
rewards and potential investors should be aware that no established market exists for the
trading of shares in private companies. Before investing in a project about which information
is given, potential investors are strongly advised to take advice from a person, authorised
under the Financial Services and Markets Act 2000 (“FSMA”), who specialises in advising on
investments of this kind. Yorkshire Association of Business Angels (“YABA”) cannot advise on
the merits or risks of investment and is not authorised to arrange transactions or circulate
offer documents under the Financial Services and Markets Act 2000. YABA is an exempt
body for the purposes of arranging deals in investments under statutory instrument 1201 of
2001 as a non-profit making organisation.
Newsletter of the Yorkshire Association of Business Angels 7Spring 2011
Join us on YABA information: 01423 810149 www.yaba.org.uk
GapworkSpreading the word…
It was one of the earliest business angel investments,
made back in 2000 when YABA was in its infancy, and
more than a decade on Leeds-based Gapwork is
continuing to thrive.
Gapwork was formed in 1999 as an information portal for those
considering a gap year – covering everything from where to go and
what to do, to insurance and visas. The website attracts around
50,000 visitors a month and is firmly established as the ‘go-to’ site
for gap year information. Large companies such as Raleigh
International and BUNAC advertise their services and products on
the site, knowing that a large audience is guaranteed.
Since buying out their angel investors in 2004, Gapwork directors
Rebecca Jordan and Kirsty Collinson have expanded their
business into three strands through an umbrella company, PDC
Education Ltd.
As well as Gapwork, two more websites have been added to the
portfolio. Teaching Resources UK is the leading publisher of
resources for the personal development curriculum in the UK.
Subscribing schools can access fully-prepared lesson plans and
resources, including PowerPoint slides and video clips, to aid
delivery of citizenship, work-related learning and personal social
and health education (PSHE). “We’re operating in a niche market at
the moment but the plan is to branch out into other subject areas,
offering a pay-as-you-go service for all teachers,” says Rebecca.
“This will put us in direct competition with large publishers but
we’re confident that our material is easy to use, accessible and of
a very high quality.”
Their third website, Free Teaching Resources, contains exactly that:
resources written by charities, museums and other organisations
that are free to download for teachers to use across the curriculum.
PDC Education Ltd now employs 13 staff at its head office in Leeds
and also commissions teachers to write the resource material.
“Teaching Resources UK has passed the 0.5 million download
mark,” says Rebecca. “With a new payment process in place via
Paypal, we’re ready to expand the service to overseas schools.”
www.pdceducation.co.uk
www.teaching-resources-uk.com
www.gapwork.com
RetrogenixFlexibility pays off…
Having secured angel investment in
the summer of 2009, Retrogenix
has developed its cell microarray
technology and is working with its
first customers.
Three angel investors, including Mark
Woodward and Neil Ewin, invested
£150,000 in the company after initially
seeing a presentation about its
technology at Venturefest. The technology
provides drug companies with a means
to quickly and comprehensively
determine the full range of activities of
drug molecules, saving time and money
in the lengthy drug development process.
Directors Dr Jim Freeth and Jo Soden are
behind the development of the
technology at Retrogenix. Jim says that
the time and expertise provided by Neil
and Mark has been invaluable. “Of
course the investment was needed, but
what’s been particularly valuable are the
skills and experience Mark and Neil have
brought to the company. Jo and I are
scientists and it’s been great to have a
wider range of skills, knowledge and
experience to draw on.”
The Retrogenix business model has
changed somewhat over the past 18
months, from targeting solely companies
producing small molecule drugs to those
involved in antibody drug production.
Says Neil: “There was a significant
appetite for the technology in the
antibody drug market. We set off in one
direction but after we’d done some in-
depth market research, realised that we
needed to alter that direction, which
meant adapting both the business plan
and how the technology was being
developed.”
This flexibility has paid off. Retrogenix is
currently working with three companies
on collaborative projects, which are pilot,
or proof of concept, projects. “Once
these projects are complete and we have
successful data, these companies have
indicated they’d like to enter into a longer
term arrangement,” says Jim. “They will
also provide us with data which we can
use for marketing to a number of other
companies, so this really is a pivotal time
for the business.”
l-r Rebecca Jordan and Kirsty Collinson
l-r Mark Woodward, Jim Freeth, Phil Whaley
(Grant Thornton), Jo Soden, Neil Ewin
COMPANY UPDATES
Newsletter of the Yorkshire Association of Business Angels
YABA information: 01423 810149 www.yaba.org.uk
8 Spring 2011
Copy: Campus PR
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Tel: 0113 258 9880
Design: Spiral
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Tel: 0113 205 1400
Photos: Simon x2 Photography
www.simonandsimonphoto.co.uk
Tel: 01937 844442
Yorkshire Association
of Business Angels
1 Hornbeam House
Hornbeam Park
Hookstone Road
Harrogate HG2 8QT
Barbara Greaves,
Charlotte Atkinson
or Jordana Beattie
T: 01423 810149
W: www.yaba.org.uk
Contact us
If you want to know
more about YABA
or come to an
investment forum,
please get in touch.
Members of:
10 MayInvestment forum
Location: York
Time: 5.00pm
Hosted by The
Company of Merchant
Adventurers of the
City of York
17 MayAngel seminar
Location: Leeds
Time: 10.30am
Hosted by Sagars LLP
14 JuneInvestment forum
Location: Leeds
Time: 5.45pm
Hosted by Grant
Thornton
21 JuneAngel members’
social lunch
Location: tbc
Time: tbc
12 JulyInvestment forum
Location: Leeds
Time: 5.45pm
Hosted by Shine
Business Centre,
Harehills
Master classes will
resume in the autumn
in South Yorkshire.
We regularly update
our events online.
Go to www.yaba.org.uk
to find out more.
YABA runs a full and varied events
calendar each year – if you’re interested
in attending any of these events, please
contact us on 01423 810149, or email
our Communications and Events
Manager, Charlotte Atkinson at
Diary dates
www.twitter.com/yaba1995
New facesThe YABA associate membership continues to
grow – our most recent recruits are:
Grant Thorntonwww.grant-thornton.co.uk
Withers & Rogerswww.withersrogers.com
Irwin Mitchellwww.irwinmitchell.com
Atkinsons Consulting www.finance-mix.com
University of HullWoodend Creative Workspacewww.hull.ac.uk/cel
Sagarswww.sagars.co.uk
The Royal Bank of Scotlandwww.rbs.co.uk
Yorkshire Bankwww.ybonline.co.uk
Following the Chancellor’s budget
announcements, YABA will be
holding a seminar to discuss the
recent changes to the Enterprise
Investment Scheme and how
these will affect business angel
investors. The event is open to
current and prospective angel
members only and will be held
at Sagars LLP in Leeds on 17
May. For further details please
contact Charlotte Atkinson on
01423 810149 or email
EIS Seminar Sagars LLP, Leeds
10.30am – 1.30pm