Interview with Jenny Tooth
CEO
of UK Business Angels Association
Could you comment on the survey results?/What do
you make of the recent survey results?/How do the recent survey results reflect
your experience?
What I find interesting about
the results is that across all the countries, the women’s experiences were very
similar. Initially it was expected that there would be more differences, but
the women faced in the same challenges. The second finding of the survey was
that the biggest barrier for women investors was not about taking risks, but it
was more about their sense of opportunity and their time availability and other
commitments in life. The overriding issue was the lack of awareness around
angel investing, especially from other women who did not talk about it.
In
conclusion, there is a lack of visibility around the market and this is a
disservice to women angel investors.I was most surprised by the lack of knowledge and the
financial advisors not telling women about angel investing nor about the tax
breaks.
Are
there any national specificities that you could identify that fit/diverge from
the survey results?
The UK has a more developed market Angel investment market, with more
than 15, 000 across the UK , yet still only about 14% of UK Business
angels are women. Whilst in Belgium, with a
much smaller community of angels , after a strong campaign,
now women business angels are 22% of business angels.
Could
you tell us more about your organisation?
Would
you like to share your experience as a woman business
angel/entrepreneur? What is the most challenging and most rewarding?
The most rewarding in angel investing is to help an entrepreneur to achieve the
next level of growth. It is very inspiring to see a company become
something and go on to achieve success. It is a positive impact on the economy,
it more important than the financial reward, although I also hope that I
my investing will be successful.
I am keen to back women entrepreneurs, but there are
not enough women entrepreneurs coming forward seeking
investment from business angels. Women entrepreneurs still have difficulty
in accessing equity compared with their male
counterparts and are falling to successfully present
their businesses to investors , often being intimidated in an all male
investment environment
Would
you agree with the statement: the more woman business angels there is the more
women entrepreneurs there will be?
Yes I agree, women are drawn to backing women
entrepreneurs. Our research showed that between 30-50% of deals
done by women business angels are into women entrepreneurs’ start-ups. It
is unlikely that women business angels would solely focus on women
entrepreneurs, there is no exclusivity created around women business angels.
Women entrepreneurs need to be helped to come forward and compete on a level-playing
field for equity. It is about the deal.
From
your point of view, do you think women will benefit more from being more
integrated into the existing network of business angels or should women pursue
their own, separate networks?
From my experience, the women in our research survey have been less
interested in women -only business angels groups. They benefit more from a
diverse group. Women do appreciate the advantages of being in a women
-focused investment forum, seeing regularly their own networks,
being able to share knowledge, experience and issues. It enables mentoring
and sharing experiences. We have already launched a
Women Angel Investment Forum in the UK and WA4E
is planning to launch a European
Investment Forum this autumn.