This page contains a number of resources we recommend to entrepreneurs preparing their business proposition packs, as well as our terms of business. Please do review these resources to make sure you are making the most of your efforts and effectively engage with investors.
The Fund Raising Process
What we need from Entrepreneurs
Before we can consider your submission for funding, you must be UK-domiciled and have an SEIS or EIS accreditation or at the very least, advanced assurance from HMRC.
To meet our selection criteria, please send us these 4 items:
- Your Business Plan
- The Detailed Financials for at least 3 years.
- Your Pitch Deck
- Our One-Page Summary Sheet
Click on each section below to understand our requirements.
A well-crafted business plan is a crucial document for angel investors for several reasons:
- It allows them to understand your business model and the strategy you propose to adopt to take the business to the next level, including how any funding raised from DBA will be used.
- It sets out the results of your market analysis and how the data gathered was used to finalise your product or service, its price, and the advantages it offers prospective customers over the competition.
- It introduces your team to the investors and describes how their skill sets will be invaluable in driving the business forward.
Three years of detailed financials, set out in spreadsheet format are required to give us access to the numbers behind your headline forecasts, and allow us to see the rate at which you will be able to scale up the business should you be successful in securing a DBA investment. Please ensure you include the following:
- The Balance Sheet - which is a snapshot of the Company’s finances at a given point in time.
- The Profit and Loss Statement - which sets out the trading results of the business over the financial year, showing revenue and expenses, and the net profit before tax. (NPBT).
- The Cash Flow Statement - which gives details of how cash has entered and left the business during the financial year. Typically, it will show cash flows from operating activities, investment activities, and financing activities.
This is the set of slides you intend to present your product/service to our members should you be selected to pitch. It should:
- Provide a clear, engaging overview of your business.
- Highlight key information from your business plan and financials.
- Clearly define market size and opportunity.
- Showcase your team's experience and track record.
- Contain no more than 15 slides.
- Contain this prescribed risk warning and disclaimer.
This templated document gives the Screening Committee a brief overview of the business since its inception, through to the point where management decide funding is required. It will include the current valuation placed on the Company and the method used to obtain this, and the amount of equity the Directors are prepared to release in return for the funding they seek.
Not yet investment ready?
Early-stage businesses seeking angel investment but not yet ready to pitch can pursue several forms of support to enhance their readiness. Here are key resources and avenues to consider:
Coaching and Mentorship
- Business Coaches: Engaging a business coach can provide personalised guidance on refining your business strategy, improving your pitch, and preparing for investor meetings.
- Mentorship Programs: Look for mentorship programs that connect entrepreneurs with experienced business leaders who can offer insights, advice, and networking opportunities. Locally Evolve Advisory has a range of services to offer.
Workshops and Training Programs
- Investment Readiness Workshops: Participate in workshops focused on fundraising strategies, financial planning, and creating effective pitch decks. In our local area Focused for Business is one such company that can help.
- Business Planning Workshops: Organisations like Start Up Donut provide workshops that cover essential topics in business planning, including how to write a compelling business plan.
Online Resources and Tools
- Business Plan Templates and Guides: Utilise online resources such as Bplans, which offer templates and examples to help structure your business plan effectively. Planais an innovative online collaborative business planning platform developed by a Dorset based tech company, MP&DA Ltd. Plana is a step-by-step method developed over a decade to simplify business planning, enabling entrepreneurs and SMEs to create effective action plans aligned with their vision. The process emphasises collaboration and breaks tasks into manageable chunks, resulting in a working document that tracks progress, aligns employee objectives with corporate goals, and supports ongoing business improvement.
- Financial Forecasting Tools: Explore tools that assist in creating financial projections, such as cash flow forecasts and break-even analyses.
Networking Opportunities
- Local Business Networks: Join local entrepreneur groups or Chambers of Commerce to connect with other startups and potential mentors. Our local one is Dorset Chamber.
- Angel Investor Networks: Attend events hosted by angel investor networks to gain insights into what investors look for and to practice your pitch in a low-stakes environment. The UK Business Angels Association (UKBAA) is a valuable resource for investors; they also have an entrepreneurs resource section on the website. Angel groups have great representation on LinkedIn, check out your local and regional groups to familiarise yourself with the landscape.
Professional Services
- Legal Advisors: Consult with legal professionals who specialise in startup financing to ensure you understand the implications of investment terms and agreements.
- Financial Advisors: Work with financial experts to develop robust financial projections that can instil confidence in potential investors.
Government and Non-Profit Support
- Government Resources: Leverage resources provided by government websites such as Gov.uk, which offer templates and guides for writing business plans and accessing funding. The British Business Bank is also a great resource for early-stage businesses seeking investment.
- Non-Profit Organisations: Seek support from organisations dedicated to helping startups, which may offer free resources or mentorship.
By actively seeking these forms of support, early-stage businesses can build a strong foundation that enhances their chances of successfully attracting angel investment when they are ready to pitch.
Further reading which may be helpful:
https://www.themgroup.co.uk/free-uk-resources-and-guides-to-help-you-write-a-killer-business-plan
https://seedblink.com/2024-10-21-angel-investment-explained-a-practical-guide-for-founders
Formats
When sending the above data to us, please use Microsoft Office and PDF formats, to allow ease of access for our members. URL links to further Company information should only be used as background information.
Our Pitching Checklist contains some useful guidance for entrepreneurs pitching to DBA. We recommend you read this in advance of submitting your pitch deck.
Professional Advisers
If you are pitching to angel investors for the first time, your Accountant, Lawyer, Finance Director or other professional adviser may be able to offer invaluable guidance on the requirements listed above.
Our Terms of Business to Present at Pitch Events
The presentation fee to pitch at one of our pitch events is £150. Additionally, DBA charge 5% of the funds raised which is payable upon completion of the fund-raising round.
The DBA Selection Process – How it works
This information you send us allows each member of the Screening Committee to form an independent assessment of your offer.
When you have assembled the 4 items required (Business Plan, Detailed Financials, Pitch Deck and One Page Summary), please submit them to: contact@dorsetbusinessangels.co.uk.
You may also speak to our Managing Director Peter Eales on 01305 247202 if you have any questions.
Click on each section below for more understanding.
We receive several plans to consider for each event and run to a precise schedule.
Entrepreneurs must submit the 4 items to contact@dorsetbusinessangels.co.uk by the latest:
- 18th October 2024 (5pm) for the 25th November 2024 EVENT
- Dates for subsequent EVENTS are to be confirmed ... and will be displayed here
We usually hold the pitch event in a hotel in Bournemouth. You’ll deliver a 10-minute pitch to investors in the room and then you’ll have a 10-minute Q&A session with them. After that you’ll leave the room, and a private discussion will be held. A member of the team will inform you shortly after if you have been successful in gaining any expressions of interest.
Our members are looking for more than just a good idea. They want to see:
- A competent, committed team with relevant experience
- A clear understanding of the market and competition
- Realistic financial projections and a path to profitability
- A well-thought-out strategy for growth and an eventual exit
- Evidence of a full understanding of your market and industry trends
- Financial viability and the potential for significant growth
- Strong intellectual property rights or other sustainable competitive advantages
- Clear milestones and how any funding will be used
Be transparent about any risks and challenges that may currently affect the business.
Demonstrate your commitment to the business.
Constantly monitor the performance of the successful companies in your market sector.
Should you gain any expressions of interest from our members, be well prepared for a thorough due diligence process. You will need to verify the claims in your pitch and be able provide any additional Company documentation related to your offer. Transparency and prompt responses during this process are crucial
It is not unusual for Angel Investors to request more involvement with your Company beyond just providing capital. They may seek Board seats, or Board observer status, regular monthly/quarterly updates, and in return, may be prepared to provide strategic advice as and when necessary.
We are part of the Government approved UKBAA network and any information disclosed to us is held in strict confidence by our members.
Some Further Guidance
The main aim of your 10-minute pitch is to arouse the interest of our members in your Company. Frank Guinn, Vice-Chair of DBA and Chairman of our Screening Committee for Business Pitches says:
"From the perspective of angel investors looking to invest in your enterprise, the quality and accuracy of the information in your pitch deck, when combined with ‘polished’ delivery skills, is going to have a significant influence on their desire to learn more about your Company, its management, and its products/services.
Having delivered your pitch, the following Q&A session is equally important as it is your final opportunity to get them to proceed into due diligence with you. Remember that most of your audience are running or have run highly successful businesses of their own and will want to be assured that your business is ‘clean’ and is carrying no ‘baggage’ that would put them off, should they proceed to due diligence.
Our Pitching Checklist will give you an outline of what you must include in your presentation. Addressing these critical points in advance means that your audience doesn’t have to raise them with you, which in turn allows you to spend more time on answering other important points about your business, they may wish you to clarify for them”.
Plana is an innovative online collaborative business planning platform developed by a Dorset based tech company, MP&DA Ltd. Plana is a step-by-step method developed over a decade to simplify business planning, enabling entrepreneurs and SMEs to create effective action plans aligned with their vision. The process emphasises collaboration and breaks tasks into manageable chunks, resulting in a working document that tracks progress, aligns employee objectives with corporate goals, and supports ongoing business improvement.
- The Princes Trust advice on Business Plans.
- A Forbes article - What angels want to know about investing in your start-up.
- A link to Dorset Growth Hub.
Important Information
Your information is presented on the assumption that those viewing it have self-certified as either High Net Worth Individuals or Sophisticated Investors under the FSMA 2000 guidance. Under the Financial Services and Markets Act 2000 (as amended 2005) investors must "self-certify" by meeting simple criteria as "high net worth" or "sophisticated" investors.
The resources on this website are provided without us giving advice. Whilst this information is provided in good faith, Dorset Business Angels Network Ltd accept no responsibility, financial or otherwise, for any loss incurred as a result of using these resources. Any use you make is made entirely at your own risk and no representative of/or Dorset Business Angels will be held responsible for any loss suffered.
The companies or individuals seeking investment through the Dorset Business Angels must ensure that the information presented to potential investors is neither inaccurate or misleading. They are urged to seek guidance from someone authorised under the Financial Services and Markets Act 2000 Act. Dorset Business Angels Network Ltd are not authorised under the Act and in no way provide advice or due diligence services to either investors or companies/individuals seeking investment.
If you are an investor please refer to our statement about the Act on our About Us page.
