Ask the Expert: Crowd Funding - the route to commerciality?
Peer-to-peer (P2P) business lending – where individuals and institutions lend directly to companies without going through traditional banks – is of vital importance to individual businesses and the UK economy.
The huge power and potential of so-called crowdfunding to support the growth ambitions of businesses, including startups, will be the focus of a very special Biztech event on November 10 in Milton Keynes.
The expertise of peer-to-peer leader Angus Dent, the CEO of pioneering company, ArchOver has been secured for Biztech’s Crowdfunding - the route to commerciality? event at UCMK.
Angus said: “Peer-to-Peer lending is of vital importance to individual businesses and the UK economy. SMEs are the engine of the UK economy, the engine of growth. 99% of businesses in the UK are SMEs, and they provide 48% of non-government employment. Without access to capital, or with restricted access to capital, the engine is bound to seize.
“We continue to hear that despite protestations to the contrary, the high street banks have withdrawn from SME lending, leaving the challenger banks and p2p lending to fill that gap and provide the oil for the engine.
“Historically, in the US, circa 90% of business funding has come from non-bank sources. In Europe, only circa 20% of companies have been funded by non-bank sources, but the trend is changing, and without p2p lending, the engine is at risk of dying.”
ArchOver is the pioneer of the world’s only “secured and insured” peer-to-peer business lending model, facilitating loans for SME’s and delivering returns of up to 7% pa to lenders.
Biztech chairman Fredi Nonyelu said: “It is a real coup for us to secure someone of Angus’s stature as a speaker for this event.
“Crowdfunding provides very exciting funding prospects for startup and early stage companies, especially in the technology sector.
“Biztech’s mission is to provide a platform and voice for the promotion of technology provision within Milton Keynes and SEMLEP. We organise meetings, lectures and events of interest to Biztech members and the wider community to foster greater engagement within the community and support the growth of service provision within North Buckinghamshire.
“We are sure that Angus’s insights and knowledge will be very useful to people at this meeting.”
Joining Angus will be Gayle Pope, Head of Business Services at the South East Midlands Local Enterprise Partnership (SEMLEP). Gayle is leading the delivery of SEMLEP's Velocity Growth Hub. Velocity is a free business support programme resourced through public funding streams such as ERDF and RGF.
Tickets cost £15 for Biztech Members and £20 for non members, students can attend free of charge but numbers are limited. The Event will be held at UCMK campus on Avebury Boulevard, Central Milton Keynes, MK9 3HS.
This event is sponsored by Richmond House Group.