Barclays Bank SBRT - Risk Capital For Small Firms Part 2 Directory 1989

RISK CAPITAL FOR SMALL FIRMS
A Guidebook & Directory, 1989
Web Version (2011)
This version – a scanned copy of the original – has been made available
primarily as a reference for SME researchers, although others may find
the content of interest.
Much has changed since it was first published. For instance, the
government’s Small Firms Service (p.210) subsequently evolved into the
Small Business Service, although it, too, was later replaced.
But enterprise support in the UK is again under review – with the

prospect of delivery via Local Enterprise Partnerships – and at the time
of writing, the various services are managed by:
England - Business Link http://www.businesslink.gov.uk/

- Regional Development
Agencies http://www.englandsrdas.com/
Northern - Invest Northern Ireland http://www.investni.com/

Ireland
Scotland - Scottish Enterprise http://www.scottish-enterprise.com/

- Highlands and Islands
Enterprise http://www.hie.co.uk/
Wales - business.wales.gov.uk http://business.wales.gov.uk/
The enterprise agency network now has the National Federation of

Enterprise Agencies – founded in 1992, http://www.nfea.com/. And
the popular Dragons’ Den BBC TV series – first broadcast in 2005,
http://www.bbc.co.uk/dragonsden/ – has followed in the footsteps of
the enterprise agency ‘marriage bureaux’ (p.143, p.223), helping also to
raise public awareness of small business opportunities.
Web Version Introduction /2

Document Configuration
To avoid an overly large file, the publication has been split into two
Acrobat documents, namely:
1) the Guidebook section, including the Chapters, Case Studies, Further

Reading and Glossary (pp.1-205), and,
2) the Directory, including the Chapter References, Directory of

Organisations, and Index (pp.206-347).
They may be found here http://www.scribd.com/SME_Research, and

should find wide compatibility with more recent versions of Adobe
Acrobat – they have been successfully opened with Acrobat v.6 and v.7,
(Windows XP), and v.9 (Windows 7).
To assist readers in tracing text of interest, the main sections are

identified as Acrobat ‘bookmarks’, and the scanned page images have
been converted into searchable text.
N.B. Whilst the optical character recognition (OCR) process is usually

efficient in converting scanned text, it is not flawless. However, the
use of truncated searches – by entering say ‘invest’, when searching
for ‘investment’ – may help to locate content that would otherwise be
excluded.
David Purdy
Visiting Fellow, Kingston University
http://business.kingston.ac.uk/sbrc
January 2011
Web Version Introduction /2

DIRECTORY
The purpose of this section is to provide information on locally-based

organisations which may be able to help at any one or more of the stages of
raising risk capital. The organisations and their activities are:-
Main U.K. Business Advice Agencies for Smaller

Businesses
These are able to provide low-cost (often free) assistance to help with
the development of business plans prior to the seeking of any external
risk (sharelequity) capital i.e. prior to making contact with a potential
investor.
Linkages to Potential Investors for Smaller Businesses

These are services which act as a 'linking mechanism' to connect small
businesses to potential investors who are prepared to offer such
finance.
Sources of Risk Capital

These include both private and public sector sources having expressed
an interest in investment opportunities requiring £50,000 or below (it
should be noted that many would be interested in businesses seeking
finance above this level too).
The information on these sources is arranged thus:
Main U.K. Business Advice Agencies for Smaller

Businesses .................................................................p.208
An overview of the main types of organisations which would fall into
this category.
B) Linkages to Potential Investors for Smaller

Businesses.................................................................p.222
An overview of the main types of organisations which would fall into
this category.
C) Regionalised Directory of Contacts..........................p234
This gives the name, address and other contact information - for all
types of organisation - and also indicates the general nature of each
listed organisation.
D) Risk Capital Sources & Their Main Investment

Criteria.....................................................................p.304
This information has also been presented in the form of a regionalised
directory.
To help find your nearest local contacts, the directories [sections C) and D)]
have been sub-divided into the United Kingdom 'standard regions',
namely :-
ENGLAND:
East Anglia Cambridge, Norfolk, Suffolk
East Midlands Derbyshire, Leicestershire,
Lincolnshire, Northamptonshire,
Nottinghamshire
North Cumbria, Cleveland, Durham,
Northumberland, Tyne & Wear
North West Cheshire, Greater Manchester,
Lancashire, Merseyside
Yorkshire t.3 Humberside, North Yorkshire, South
Humberside Yorkshire, West Yorkshire
West Midlands Hereford & Worcester, Shropshire,
Stafford, Warwick, West Midlands
South East Bedford, Berkshire, Buckingham, East
Sussex, Essex, Greater London,
Hampshire, Hertford, Isle of Wight,
Kent, Oxford, Surrey, West Sussex
South West Avon, Cornwall, Devon, Dorset,
Gloucestershire, Somerset, Wiltshire
NORTHERN IRELAND
SCOTLAND
WALES
( A ) Main U.K. Business Advice Agencies for Smaller
Businesses
These are able to provide low-cost assistance to help with the development
of business plans prior to the seeking of any external risk (sharelequity)
capital (i.e. prior to making contact with a potential investor).
This section contains a brief overview of each of the main business advice
and information services available to smaller businesses.
Generally speaking, the bulk of the counselling and information services are
offered free of charge, but in some instances, as in the case of extended
counselling sessions from the Small Firms Service, or with the specialised
technical services supplied by the Rural Development Commission, some
costs may be borne by the client. Many of the services have upper limits on
the size of firm that may receive support (usually in terms of numbers of
employees), but these limits are likely to be above the size of a firm seeking
£50,000 in risk capital.
Furthermore, certain business support schemes have been designed to
target certain industrial sectors - such as manufacturing (as in the case of the
Scottish 'Better Business Services') - and in such circumstances, businesses
operating outside the specified sectors will usually be ineligible.
N.B. Most schemes offering financial assistance - from whatever source -
stipulate that an application must be submitted PRIOR to the commitment
of any project expenditure for which support is being sought. Therefore, a
useful maxim might be:
'Investigatefirst; spend later'
Scope
Overall, the scope for local assistance can be very broad - it can range from
the supply of information and business advice, to the provision of finance
(in the form of loans, grants or equity) and premises - and so a little effort
spent in evaluating the alternatives could prove to be time well spent.
All of the organisations listed should be able to provide further details
describing their respective services, but since the content of various leaflets
appears to change quite frequently, it is recommended that a useful starting
point would be a request for an introductory leaflet which describes the
services currently on offer (and a list of publications, if they have one).
Some services publish helpful guides touching on various aspects of
managing a small business e.g. marketing, preparing business plans,
book-keeping and so on.
LOCAL ENTERPRISE AGENCIES:
There exists throughout the UK some 270 locally-based enterprise agencies
(or enterprise 'trusts' as they tend to be known in Scotland). Their principal
function is the supply of sound, practical and impartial advice and
information, on a confidential basis, to support the setting-up and
development of small businesses.
* Scope Such assistance is offered free of charge and could cover, for
example:- drawing up a business plan, raising finance,
choosing premises, or help with marketing.
In addition to their own business counsellors, most enterprise
agencies have access to specialists able to tackle certain types of
problems. The agencies are now working more closely with the
Department of Employment's Small Firms Service and in the
circumstances whereby one service requires access to the other's
specialists, cross-referrals help provide a solution.
Some agencies are able to offer an extended range of services,
which, depending upon the specific operation, could include
one or more of the following:-
* Access to loanlgrant Exhibitions
Funds
'Marriage bureau' 'Meet the buyer'
presentations
* Newsletter Property register
Small business club Trade directory
@ Training courseslseminars 'Youth Enterprise' support
Work space
As well as the supply of information which describes their own
services, an enterprise agency should have a comprehensive
range of information on local small business matters e.g. details
of local authority schemes.
Local enterprise agencies are a recent phenomenom, having grown rapidly
in the early 1980's but reaching saturation now, and most enjoy the benefit
of joint sponsorship from both the private and public sectors - with over
5,000 companies acting as sponsors during 1988. The counselling staff often
are secondees from larger businesses which have local branchesloffices
based in the vicinity of the respective agencies - the 'Big Four' clearing
banks all sponsor significant numbers of agencies, as do, for example,
Marks & Spencer, British Telecom, IBM, Shell, BP and the accountants
Peat Marwick McLintock. Some enterprise agencies provide additional
'satellite' offices to make it easier for more distant enquirers to visit them. A
typical enterprise agency will handle around 45 counselling sessions a
month.
Although the enterprise agencies are seen by central government as a
cost-effective method of assisting job creationlsaving through small
business support, a survey of enterprise agency clients suggested that they
rated the agencies more highly than any other local sources of assistance -
such as the banks, chambers of commerce, local authorities and so on ('The
impact of local enterprise agencies in Great Britain' 1985).
Contact The details for each main enterprise agency office (some
270-plus) are listed under their respective regional section in the
directory. However, these will be subject to various changes,
and so the simplest method of finding up-to-date details for the
nearest enterprise agency or trust would be to use the Small
Firms Service 'Freefone Enterprise' free telephone enquiry
service (details are shown in the SFS contact section).
The enterprise agencies pperate on an autonomous basis,
though Business in the Community (BiC), and Scottish
Business in the Community (ScotBIC), co-ordinate their
interests wherever possible. Each organisation publishes a
directory which includes contact and sponsor information for
each agency (and a regionalised activity table in the BiC
directory).
For England, Wales, and Northern Ireland (the 1987 BiC directory costs
£3.50):--
Business in the Community,
227A City Road,
London. EC1V 1LX Tel: 01 253 3716
For Scotland (the ScotBIC directory is available free of charge):-
Scottish Business in the Community,
Roman0 House,
Station Road,
Corstophine,
Edinburgh. EH12 7AF Tel: 031 334 9966
SMALL FIRMS SERVICE (SFS):

This is available throughout England, Scotland & Wales (the Local
Economic Development Unit - 'LEDU' - provides a similar service for
Northern Ireland). The aim of the SFS, which is financed by central
government, is to provide an information and business counselling service
to help owners and managers of small businesses with a variety of different
problems. It has 14 regional offices and is available to firms employing less
than 200.
Scope The general scope of SFS small business assistance has much in
common with that of the local enterprise agencies and falls
under 2 main categories, namely:-
1) an Information Enquiry Service - offered free of charge.
Contact the nearest Small Firms Centre by telephone
('Freefone Enterprise'), or visit in person. This service
handles around 300,000 enquiries a year and is quite broad
ranging; it can be especially useful when seeking information
concerning government departments or government
business support schemes.
2) Counselling Service - first 3 sessions free
Contact by telephone ('Freefone Enterprise'), or by visiting
in person, the nearest Small Firms Centre or one of 150 area
counselling offices. Subsequent sessions are chargeable at
£30.00 (inc. VAT) per session and meetings may be held at
the client's business premises. Specialists are available to
handle more detailed enquiries and the 'Business
Development Service' is targetted at the expanding
businesses. All counselling is given on an impartial and
confidential basis. In total, the service provides around
40,000 counselling sessions a year.
A number of small business booklets are available free of charge (covering
the basics of: marketing; management accounting; elements of
book-keeping &C.), and the SFS, with the help of the major banks, have
also produced a useful business plan (a general 'aide memoire' arranged
mainly in tabular form, covering: - 3-year cash flow and trading forecasts,
and likewise, balance sheet projections).
The SFS counselling service utilises the services of some 300 experienced
business people acting as freelance advisers, and although its counselling
operation may at first glance resemble that of a typical enterprise agency,
(indeed, the cross-referral of enquiries between enterprise agency
counsellors and their local SFS counterparts is not uncommon when certain
specialised skills are needed), the differences may be significant as far as
some business owners are concerned.
For example, the SFS counsellors may be considered to have a greater
degree of mobility in contrast to the enterprise agency counsellors who tend
to be based at fixed office locations. Also, the Service is tending to
concentrate more on helping expanding firms rather than start-ups.
However, for those who are not affected, either counselling service could
offer a useful 'fall-back' or second opinion if difficulties arise with the
other.
Locations The mainland SFS regional offices are based in:-
Birmingham * Edinburgh * London
Bristol Glasgow Manchester
Cambridge Leeds * Newcastle
Cardiff Liverpool * Nottingham
Reading
Stevenage
Another 150 or so area counselling offices are also
available for SFS counselling sessions.
Contact Details of the regional offices are shown under the

respective directory sections but for further information,
telephone the British Telecom Operator (dial 100) and ask
for: "Freefone Enterprise" (or "Freefone LEDU" if in
Northern Ireland). You then will be transferred, free of
charge, to an enquiry officer for the nearest regional office
of the Small Firms Service, who will be able to provide you
with the appropriate contact information.
In England, the SFS falls under the responsibility of the
Department of Employment, but in Scotland, the service
is operated in association with the Scottish Development
Agency, and likewise in Wales, with the Welsh
Development Agency.
For contact with the headquarters in England, the address is:-
Small Firms & Tourism Division,
Department of Employment,
Steel House,
Tothill Street,
London. SW 1H 9NF Tel: 01 273 4930
SCOTLAND:
The Scottish Development Agency (SDA) and the Highlands & Islands
Development Board (HIDB) are the regional development agencies for
Scotland. Both provide an extensive range of support services for small
businesses (the SDA also manages the Small Firms Service in Scotland).
Scope In addition to the supply of general advisory services, the
SDA and the HIDB are able to supply equity capital and
to provide financial support to help with consultancy fees
- under the 'Better Business Services' scheme - for such
services as: - Business Plan Service (to help attract funds
for investment proposals), Management Planning and
Organisation, Sales and Marketing Plan, and Profit
Improvement Studies.
Locations The SDA's Small Business Division operates a number of
regional offices, namely: -
Dumfries; . Dundee; Edinburgh; Galashiels;
Glasgow; Kirkaldy; Stirling.
The HIDB also operates out of a number of area offices,
these being based in:-
Benbecula; Forres; Fort William; Glasgow;
Grantown on Spey; Invergordon; Kirkwall;
Lerwick; Lochgilphead; Oban; Port Ellen; Portree;
Stornoway; Wick.
Contact Contact details for each SDA Small Business Division

regional office (with reference to equity capital assistance)
can be found in the directory section, but confirmation of
up-to-date details may be obtained via the Small Firms
Service 'Freefone Enterprise' free enquiry service (details
shown in the SFS contact section).
For contact with the respective headquarters, the addresses are:-
Scottish Development Agency,
120 Bothwell Street,
Glasgow. G2 7JP Tel: 041 248 2700
Highlands & Islands Development Board,
Bridge House,
20 Bridge Street,
Inverness. IV1 1QR Tel: 0463 234171
WALES:
The Welsh Development Agency's (WDA) Business Development Unit is
the primary vehicle for small firms' support in Wales.
Scope In addition to the provision of business advisory services
(in association with the SFS), it operates a range of
initiatives, including, importantly, the supply of equity
capital for eligible businesses. The WDA also aims to
attract the financial services sector to Wales and is a
member of the Cardiff Consortium, an organisation which
presently comprises 7 venture capital funds.
WINTech is the technology arm of the WDA concerned
with stimulating innovation and technological
development within Wales. One of its services involves
advice and assistance to companies wishing to pursue
business development through inter-company
agreements, of which, inward licensing ('technology
acquisition', or manufacturing under licence) is an area
they are keen to promote.
Locations The WDA operates out of 8 regional offices, namely:-
Bangor; Bridgend; Carmarthen, Hirwaun;
Newport; Swansea; Treforest; Wrexham.
Contact Contact details for WDA equity capital and regional

offices can be found in the directory section, but
confirmation of up-to-date details may be obtained via the
Small Firms Service 'Freefone Enterprise' free enquiry
service (details shown in the SFS contact section).
For contact with the headquarters, the address is:-
Welsh Development Agency,
Pearl House,
Greyfriars Road,
Cardiff. CF13XX Tel: (0222) 222666
NORTHERN IRELAND:
The Local Enterprise Development Unit (LEDU) represents the
government's primary organisation helping smaller businesses in the
region. To qualify for assistance, firms seeking help should have 50 or fewer
employees.
Scope LEDU provides a broad range of business advisory
services, including the equivalent of the Department of
Employment's Small Firms Service. The main areas for
expansion and diversification which it is anxious to
support include: - the development of new products and
processes; increased productivity; the introduction of the
latest technologies; and, business performance
improvements in administration, financial control,
marketing and sales.
Its support is selective - projects must be viable and must
help increase employment in the region - and is biased
towards projects which are export oriented, substituting
imports, offering novel products or services, or satisfying
unfilled local market opportunities.
The support offered includes the supply of loan and
grant-aid and also equity capital for those businesses
meeting investment criteria.
Locations LEDU has 4 area offices based in:-
Londonderry; Newry; Belfast; Omagh.
Contact Contact details for the LEDU regional offices (with

reference to equity capital support) can be found in the
directory section, but confirmation of up-to-date details
may be obtained via the 'Freefone LEDU' free enquiry
Local Enterprise Development Unit,
LEDU House,
Upper Galwally,
Belfast. BT8 4TB Tel: (0232) 491031
RURAL DEVELOPMENT COMMISSION:

The Rural Development Commission (formed in 1988 by merging CoSIRA
and the Development Commission) offers a wide range of assistance which
is intended to stimulate the growth of small businesses in (English) rural
areas - generally aimed at businesses employing less than 20 skilled people
in villages and towns with populations up to 10,000. The priority areas are
designated 'Rural Development Areas' (in the North, on the East Coast,
along the Welsh Border and in the West Country), and the support is
regionalised and operates from 32 local offices.
Scope Most of the Rural Development Commission's offices

have a 'Small Industries Organiser', a general purpose
adviser, backed up by a team of advisory officers who are
able to offer specialised help with business problems,
business management, technical concerns, training,
marketing and so on. Visits from the regional organiser are
usually free, but charges may be levied for detailed
assistance.
The Rural Development Commission also operates a loan
scheme to help finance specific projects, and loans up to
£75,000 are available, subject to certain criteria, repayable
over 2 to 20 years.
Locations Its local offices are based in the following regions:-
* EAST
Cambridgeshire Cambridge
Leicestershire & Bingham
Nottinghamshire
Lincolnshire Sleaford
Norfolk Norwich
Northamptonshire Northampton
Suffolk Hadleigh
NORTH
Cumbria Penrith
Durham, Tyne &
Wear, Cleveland Darlington
Humberside * Goole
Lancashire Preston
North Yorkshire York
Northumberland Morpeth
West & South
Yorkshire Barnsley
SOUTHEAST
Bedfordshire Bedford
Essex Braintree
Hampshire Winchester
Isle of Wight Newport
Kent Maidstone
Oxford, Bucks &
Berkshire Wallingford
SOUTHWEST
Avon Bristol
Cornwall Truro
Devon Exeter
Dorset Dorchester
Somerset Taunton
Wiltshire Salisbury
WEST
Cheshire &
Staffordshire Audlem
Derbyshire * Wirksworth
Gloucestershire,
Hereford & Worcs Malvern
Shropshire Telford
Warwickshire Henley in Arden
Contact Contact details for the Rural Development Commission's
regional offices can be found in the directory section, but
confirmation of up-to-date details may be obtained via the
Small Firms Service 'Freefone Enterprise' free enquiry

Rural Development Commission
141 Castle Street,
Salisbury,
Wiltshire. SP1 3TP Tel: (0722) 336255
INNOVATION CENTRES:
Small firms or individuals with good new product or process ideas face
special difficulties in developing their ideas. For example, the Association
of Innovation Centre Executives (AICE) claims that existing grant schemes
largely fail to meet the need for appropriate financial, technological and
marketing support, and the help of commercial agencies is viewed as being
costly.
One initiative to help rectify these fundamental difficulties has been the
introduction of a number of 'business innovation centres' (BICs) through
the support of the European Commission (EEC). Their purpose is to
stimulate the creation of new businesses, in technology-related sectors,
having the potential for rapid growth and substantial job creation. A major
objective for each BIC is to keep its failure rate below 20% over the first 5
years.
Scope The centres' services are often free or charged at a nominal

cost and include: - technical and commercial appraisal;
advice on legal protection; design or redesign; prototype
manufacture or assessment; sourcing of materials,
information or other help; negotiation with potential
manufacturers or sponsors; marketing assistance.
Locations At present the number of innovation centres in the UK

exceeds 20 and the two main organisations involved with
their development and promotion are AICE and EBN
(European Business and Innovation Centre Network).
Innovation centres can be found in (* = location of an
AICE member):-
Barnsley Hamilton Pontypridd*
Birmingham Liverpool* Rawenstall
Camborne* London* Runcorn
Coventry Londonderry Taunton*
Edinburgh* Telford* Gateshead*
Northampton Glasgow* Nottingham*
Plymouth
Contact Contact details for the various innovation centres can be
found in the directory section, but confirmation of
up-to-date details may be obtained via the Small Firms
Service 'Freefone Enterprise' free enquiry service (details
shown in the SFS contact section).
For contact with AICE and EBN, the respective addresses are:-
Dr. W. K. Donaldson,
Association of Innovation Centre Executives (AICE),
PO Box 6,
Beverley,
North Humberside. HU17 7RL Tel: (0964) 550490
Ms. Katherina Fromm,
European Business and Innovation Centre Network
asbl,
89 Rue Froissart,
Box 5,
B - 1040 Brussels,
Belgium. Tel: 010 32-2-231 07 47
'THE ENTERPRISE INITIATIVE' (DTI):

Announced in January 1988, by 'the department for Enterprise' (the
Department of Trade & Industry). Support gained under this scheme may
prove helpful when raising external risk capital.
Scope Subsidised Consultancy
After an initial free 'business review', between 5 to 15
man-days of subsidised consultancy are available (at half
the agreed cost, or as low as a third, if the business is
located in an Assisted Area or an Urban Programme
Area). Such advice can cover:- marketing, design,
quality, manufacturing strategy & systems, and, from
April 1988, business planning, financial & information
systems.
Other support includes 'The Research & Technology Initiative' (e.g.
grant-aid in support of collaborative research). See also the following
section describing 'Government Schemes'.
Contact Details of the regional offices are shown under the
respective directory sections in this guidebook, but
brochures describing the initiatives can be obtained by
telephoning (no charge): 0800 500 200
Locations The mainland DTI regional offices are based in (at the
Welsh Office in Cardiff, and the Scottish Office in
Glasgow):-
@ Birmingham @ Glasgow @ London
Bristol Leeds Manchester
Cardiff Liverpool Newcastle
Nottingham
The DTI has several offices based in London.
GOVERNMENT SCHEMES -INFORMATION:

There are many government incentive schemes aimed at helping smaller
businesses, and for those seeking further details, the information can be
obtained directly from the appropriate government department (or via the
Small Firms Service).
A general guide on such schemes is normally available ('Guide to Enterprise'
pub. Department of Employment), as are a series of narrower guides
relating to specific schemes (e.g. 'Loan Guarantee Scheme' - DoEmp
1986).
In addition, there are a number of useful general guides published by a
variety of sources (e.g. 'Financial Incentives and Assistance for Industry' -
Arthur Young 1985, or regionalised, as with ' A Businessman's Guide to
Grants & Incentives in the Midlands' - Peat Marwick McLintock 1986), but
since such schemes are likely to be amended, replaced or dropped, some of
the information is bound to be out of date quite soon after publication.
Moreover, the number of different schemes is quite considerable, and the
process of determining which scheme is most relevant to a given project can
be quite daunting.
However, the updating and sorting problems can be reduced by using a
computer to store and sortlselect such information, and systems are
available which allow trained users to access central records from distant
locations (e.g. the Peat Manvick 'GRANTS' database accessible using
viewdata). But the ownerlmanager of the smaller business, who may have
little time or inclination to learn how to use such a system, and who would
probably balk at paying £10 to £15 per hour (with a minimum subscription
charge of over &loo), could feel that such a service may be better suited to
the needs of larger companies.
In recognition of the latter problems, there are now available a number of
free services which help to provide personally-tailored information. These
are outlined below. (l), (2) and (4) draw upon information held on the
University of Strathclyde's computer-based industrial assistance
database.
( l ) Government Assistance Information Service (GAINS)
Scope GAINS can provide details of all Government and
European Community aid schemes - which number over
300 - for industry, tourism, agriculture, forestry and
fishing in the UK.
Information on relevant schemes is selected using a
'tick-box' questionnaire to help define areas of interest
e.g. Incentive Type: -loans, consultancy &C.;Purpose: -
new technology training, general investment1
development (grant schemes), computer-aided design &
testing, tourism &c.
The service is offered free of charge to any business in the
UK, and information on selected schemes is usually
supplied within a few days of questionnaire submission.
The selection process has been designed to include scheme
details if there is any uncertainty, and particulars of each
scheme are presented in a standard format, beginning
with a summary of the scheme and concluding with details
of the application procedure and who to contact for
further information. The synopsis of the Business
Expansion Scheme (shown in the appendices) is an
example of GAINS information.
Contact For further details, contact:-
Mr. Keith Turnbull,
Marketing Department,
Bank of Scotland,
Orchard Brae House,
PO Box 725,
30 Queensferry Road,
Edinburgh. EH4 2UH Tel: (031) 343 7034
(2) The Grants Adviso y Service
Scope This provides a "....unique combination of advice and
information detailing grants available to individual businesses
in particular geographical areas". By using the same
database, the scope will be similar to GAINS; however the
Grants Advisory Service is run by Barclays Bank and
supported by one of the larger accountancy firms, Deloitte
Haskins & Sells, who help to identify which schemes
would be of greatest relevance and assistance to any
enquiring business.
Again, this service is offered free of charge.
The manager of any local branch of Barclays Bank PLC
(telephone enquiries are welcome - see your telephone
directory for details).
(3) Business Information Bureau
Scope This provides information on:- government grants and
assistance schemes; local authority loan schemes' local
courses and events (eg exhibitions); and local points of
contact (eg the CBI, Chamber of Commerce, Local
Enterprise Agency). It also is able to supply standard
'Industry Briefs' (eg. on Franchising, Supermarkets, etc)
and regional 'Statistical Profiles'. This service is offered
free of charge.

The Manager
Business Information Bureau
National Westminster Bank PLC
14 Moorgate
LONDON EC2B 2LB Tel: 01 726 1000
(4) Local Enterprise Agency Databases

* Scope Using the Strathclyde University database, these provide
detailed information on 2 main subject areas, namely:
i) the government assistance available to business, and,
ii) the regulations with which businesses must comply.
The information is supplied 'on-line', that is, direct from

the source, and is being offered free of charge to small
businesses. It will be operated by 16 local enterprise
agencies as a pilot scheme during 1989.
Contact For further information, contact the nearest local

enterprise agency (see the general directory section for
contact details):-
Blackburn, Bolton, Bridgend, Bristol (New Work Trust),
Cambridge, Deeside, Doncaster, Glasgow (Glasgow
Opportunities), Merthyr Tydfil, Milton Keynes,
Newcastle-upon-Tyne (Project North East), Plymouth,
Runcorn, Sheffield, St. Helens, Telford.
(B) Linkages to Potential Investors for Smaller Businesses
These are services which act as a 'linking mechanism' by helping to find
potential investors who are prepared to offer such finance.
In general terms, the methods fall under the following headings:-
@ Personal contact
Professional advisers
Local enterprise agency 'marriage bureaux'
Clearing houses & bulletins
Lists of sources
The services listed in this section offer services acting as linkages to
potential investors, either directly, or indirectly.
Many of the investors will be private individuals (acting on their own
behalf, or as a member of a syndicate), and other contacts or subscribers will
be representing the interests of larger, and, sometimes, the very largest,
businesses.
Some of these services may be part of a profit-making business, whilst
others will be subsidised (as in the case of an enterprise agency 'marriage
bureau'). This means that the chargeslfees will vary quite markedly from
service to service, and consequently, the likelihood of being able to make an
effective introduction will be dependent upon several factors - and not
merely the total number of subscribers (The overall profile of subscribers -
much like the readership of different newspapers - may vary quite
markedly from service to service. Where this is the case, certain biases in
investors' characteristics and preferences could prevail - in terms of
investment range, regional, sectoral preferences, and so on).
Circulating details of equity investment opportunities is an activity which
should comply with the requirements of the relevant statutory legislation
(see Chapter 7).
There also exist a number of commercial operations which offer their
services to help people with new products (or processes) find financial
backers. Often, these are geared towards the larger or medium-sized
businesses. When such services are under consideration, it is recommended
that advice be sought on the suitability of this type of approach from the
nearest innovation centre (as described in the previous section; their
respective addresses are shown in the directory); the local enterprise agency
or Small Firms Service counsellors may be able to help too.
LOCAL ENTERPRISE AGENCY 'MARRIAGE BUREAUX':
Several enterprise agencies operate a 'marriage bureau' service to help
clients find investors. The actual mode of operation can vary: some circulate
to subscribing investors a regular bulletin containing abbreviated
information on various business projects seeking finance; others organise
investors' meetings (or investors' clubs) whereby entrepreneurs are able to
make a personal presentation to a small group of potential investors.
The enterprise agencies operating, or planning to operate, some form of
'marriage bureau' service are located at (information as at June 1988):-
Aberdeen (L) Leeds Pendle
Bath Liverpool (L) Poole
Birmingham Llandrindodd Wells Portadown
Camborne (L) London (L) Richmond
Cambridge Manchester (L) Sheffield (L)
Chatham (L*) Middlesbrough (L) Stafford (L)
Chippenham Milton Keynes Stevenage
Colchester Newcastle upon Tyne (L*) Swansea
Dudley (L) Northampton (L) Worthing
Yeovil (L)
'(L)' = Member of LINC
'LINC' :
In terms of geographical coverage such services tend to be quite localised;
and some areas of the country are not covered at all. So, to help extend
marriage bureau activity throughout the United Kingdom, LINC (Local
Investment Networking Company) was established. The operation was
launched in 1987, as a nationwide business introduction service to help
small businesses find capital and management assistance and for people who
want to invest and sometimes work in those firms.
The locations of the members of LINC are marked (L) in the above table,
and two members (marked *) - one in the North East (Newcastle upon
Tyne) and the other in the South East (Chatham) - each represent a
consortium of several neighbouring enterprise agencies. [The other
members of the Chatham consortium are located in: - Ashford, Bromley,
Canterbury, Dartford, Folkestone, Gravesend, Maidstone, Sittingbourne
and Tonbridge, and the Newcastle consortium has members based in:-
Alnwick, Bedlington, Chester le StreetIDurham, Consett and South
Shields.]
LINC operates in the following way:-
For companies seeking finance
Those seeking finance need to produce and submit a business plan to
the nearest LINC participating agency, indicating the amount of
finance required (sample plans and counselling services are available).
Firms should be prepared to offer equity - though the supply of a
combination of equity and loan finance may be possible. Having once
been accepted as a bona fide proposal (a mandatory legislative
requirement prior to publication), a business will be charged a once-off
£50 for as many bulletin entries (around 50 words) as are felt necessary.
Also, a longer, 2-page, business plan summary will be prepared to help
any enquirers requesting further details.
For those wishing to invest

Subscribing investors usually register their interests with the service,
and, where appropriate, it may be possible to match companies to
potentially compatible investors.
The charge for potential investors registering with the service is
currently £50 per annum. This entitles members to:- a) receive a
monthly bulletin which lists investment opportunities, and, b) attend
'Investors' Meetings7,where those seeking finance make presentations
of their plans and ideas. A fuller description of an investors' meeting
[and one which Peter Lovell, Chairman of LINC, feels is ".. quite
objective"] is included as an appendix ('Review - A 'Marriage Bureau'
Investors Meeting').
For further details, contact:-
Local Investment Networking Company (LINC),

4 Snow Hill,
London. EClA 2BS Tel: 01 236 3000
For membership enquiries, contact:-

Mr. Peter Lovell (Chairman),
Local Investment Networking Company (LINC),
c10 Barnet Enterprise Trust, Hertford Lodge,
East End Road, Finchley,
London.N33QE Tel:013462187
OTHER 'LINKAGE' OPERATIONS:
Venture Capital Report
Venture Capital Report is a monthly publication (1988 subscription £200
p.a.) specialising in helping businesses find finance for projects requiring
under £250,000.
Each issue contains details on 10 or so businesses/projects, and each project
is described in some depth. For example, an article will usually cover: - the
product or service; the market and competition; the people behind the
project; financial data (including how much finance is required, how it will
be spent, cash flow projections); a possible financial structure; contact
information for further enquiries.
The publishers have to satisfy themselves that the projects described are not
misleading (a statutory requirement) and they will be seeking to publish
details of projects, which, in their view, are most likely to receive offers of
investment from subscribers. Inevitably, these considerations dictate a
degree of selectivity, and so perhaps 1 in 10 initial applications will
ultimately receive coverage in VCR.
Having once achieved publication though, the prospects of receiving
investment offers would appear encouraging: based on an analysis of nearly
600 featured projects (from 1978to 1984), the publishers have reported that
27% received an offer for all of the money sought (60% of the sources being
VCR subscribers) and 8% received an offer for some of the finance
sought.
For those seeking finance, VCR charges a flat fee of £100 (+ VAT) for
start-ups; £200 for expanding businesses to cover the costs of preparing
articles (which covers the cost of meeting the entrepreneur), and in
addition, a percentage fee payable on any risk capital raised should the
project successfully raise some or all of the finance sought. The percentage
element operates on a tapered incremental structure (eg. £500 on the first
£10,000, £400 on the next £10,000 &C.), though in exceptional
circumstances, the publishers say they will consider reducing or waiving the
initial fured charge.
VCR has been running since 1978 and has in the region of 900 subscribers.
It operates as a member of FIMBRA (the Financial Intermediaries,
Managers and Brokers Regulatory Association).
Mr. Lucius Cary,
Director,
Venture Capital Report Ltd.,
Boston Road,
Henley on Thames,
RG9 1DY Tel: (0491) 579999
@ Cambridge Venture Management (CVM)
This particular scheme offers an access to a 'seedcorn' fund - operated by
CVM in conjunction with Investors in Industry (3i) - but it should be
viewed as rather more than a simple linking service.
It is intended for: "embyonic, new ventures, and not for new activities within
existing companies. The objective of the funding is to take a project to the point at
which 3i would be able to consider rfull investment. The project will be managed
towards this objective by C V M who will receive 15% of the seedcorn injection as
a contribution to their costs."
CVM are interested in businesses based in the South East of England and
the typical range of finance is between £5,000 to £20,000 - high-growth
product-oriented (rather than service) ventures being the main target. An
investment package will include the provision of a newly incorporated
limited liability company, 'Newco Ltd.' Shares in Newco Ltd. are
". .. allocated on the basis of 55%to the principals, 35%to 3 i and 10% to C V M .
The principals appoint appropriate individuals to the board of directors, and a
C V M executive is appointed Chairman and director."
The investment is made by way of £45 in equity, and the balance in an
interest-free loan, secured by a first fixed and floating charge on all the
assets of the company.
CVM are based in Cambridge, and the full address and contact information
is shown in the directory.
Cheshire Contacts
'Cheshire Contacts' is a quarterly bulletin - published by Cheshire County
Council - intending to bring together: "people with complementary business
interests and requirements".
The bulletin has box-numbered advertisements, to retain anonymity and
confidentiality, and is sub-divided into several sections e.g. 'Business
Opportunities Offered' (such as "Small manufacturing company requires
capital for investment"); 'Investment and Expertise Offered' ("Experience
and Investment Offered"); and 'New Products Available' ("Joint Venture
or Licensing Opportunity for Investors andor Manufacturing
Company").
It is offered as a free service both to readers and advertisers alike (apart from
business services advertisements), and since each bulletin contains only the
newest opportunities, the Employment Promotion Group, who manage the
operation, may have information on other projects which could be still
without a suitable business partner.
A 'matching' service and assistance with business plan preparation (via their
Business Advisory Service) are available, as are introductions to certain
funds which are on the look-out for suitable investments in Cheshire.
Clearly, this service has been established for the benefit of businesses and
people residing within Cheshire, although this will not preclude contact
with others located outside the area.
The publishers say 'Cheshire Contacts' is circulated to: "over 5,000 key
members of the business community in a wide range of organisations". These
include: "companies in manufacturing, distribution and the service sector, the
business professions, including financial consultants, accountants, private
investors and entrepreneurs".
'Cheshire Case Conferences' may be held periodically to provide clients
with an opportunity to meet each other. Thus, selected clients seeking
finance can present their case to an audience of private and institutional
investors.
Ms. Vivienne Upcott-Gill,
Employment Promotion Group,
Cheshire County Council,
Commerce House,
Hunter Street,
Chester. CH1 1SN Tel: (0244) 603152
0 Leicestershire Enterprise
Leicestershire Enterprise has been established by Leicestershire County
Council, together with British Coal Enterprise Ltd., the accountancy firm
Robson Rhodes, the local enterprise agency Leicestershire Business
Venture, and a local firm of solicitors. Recognising that: "smallfimts have
major problems in raising capital through equity investment", it was created to
". .. place vetted investment proposals with suitable sources of finance". Thus,
Leicestershire Enterprise acts as: ". .. a linking mechanism and catalyst,
matching expanding small businesses with major investors."
"Applications will be subject to a two-stage vetting procedure. Once vetted,
propositions will be placed with a number of investing institutions, who have
indicated that they will view applications positively."
"The applicant company will not be charged unless investment capital is
obtained. Y o u will then be charged a reasonable placementlnegotiation fee, and
also a fee to cover the cost of monitoring the investment."
For eligible companies, the scheme can provide both free and subsidised
assistance towards the development of business plans which are seeking an
amount usually below £100,000.
Regarding eligibility: " I n order to interest financial institutions, Leicestershire
Enterprise is looking for propositions from companies with a substantial growth
potential. I n addition, the proposition should normally involve a new product or
service, or a major upgradinglextension of an existing product or service.
Companies offering technical innovation will be particularly welcomed, provided
the product is beyond the design stage. Companies offering a more traditional
service without major growth potential will not normally be eligible, as their
proposal would be unlikely to attract finance."
This is an initiative primarily intended for Leicestershire-based
businesses.
For further information, contact:-
Mr. A. Lee,
Leicestershire Business Venture,
30 New Walk,
Leicester. LE1 6TF Tel: 0533 554464
Strathclyde Venture Capital Club

Claiming to be the first of its kind in Europe, it was established in 1988 and
offers: ". ... a simple 'one stop' access to the full range of venture funding". The
club's members - who presently number 16 and include such as Barclays
Bank, British Steel (Industry), Clydesdale Bank Equity and Investors in
Industry - are looking to invest in companies which show ". .. high potential
for success, often based on new and innovative business ideas".
The club does not operate its own fund, but its members co-operate to
provide ". .. seed and venture capital packages tailored to fit the needs of each
business project". Funding will normally be provided in various forms of
equity and loan finance, and those with funding requirements ". .. as low as
£25,000" will be considered.
Appropriate applications for finance are introduced to all members initially
as a summary. Investors expressing subsequent interest receive full details
including a business plan and there will be an opportunity for the applicants
to personally meet with interested investors and discuss their project in
detail. Personnel at Strathclyde Innovation are able to assist applicants in
the preparation of a business plan.
During the first six months' operation, some 240 enquiries were received, of
which 25 resulted in details being circulated to the club's membership, and
a quarter of the 25 were reported as being under negotiation.
Enquiries are invited from businesses located in Scotland.
Mr. Robert Begg,
Venture Manager,
Strathclyde Innovation,
Building 1,
Templeton Business Centre,
62 Templeton Street,
Glasgow. G40 IDA Tel: 041 554 5995
8 Venture Capital Network

"A computerised information matching service to applicant entrepreneurs and
investors" offered by the South West Regional Productivity Association
(SWRPA) and concentrating on finance between £20,000 and £200,000.
Investors register their interests, free of charge, via an 'Investment Interest
Profile', and entrepreneurs register theirs, for an annual registration of £75,
using an 'Investment Opportunity Profile' plus an executive summary of
the business plan. These indicate sectoral preferences (retail/wholesale
trade, 'high-technology' manufacturing, consumer manufacturing &C.)
and other interests - such as investment range, state of company
development, degree of involvement sought, minimum potential sales
turnover (in 3 years' time; from upwards of &5OO,OOOp.a.).
The information supplied via these profiles is compared regularly, and
when potential matches are identified, the relevant investment opportunity
profile(s) will be sent - without reference to the specfic identity of the
opportunity concerned - to the relevant investor(s) for-perusal. Should the
investor indicate any further interest, a copy of the executive summary will
be supplied, and should this extend to a request for contact information,
then both parties will be supplied with each other's contact details.
Ms. Sylvie Dare,
South West Regional Productivity Association,
5 St. John's House,
Church Path,
Yeovil,
Somerset. Tel: (0935) 21983
Corporate Venturing Register
Launched during mid-1988, this is a confidential service to assist the
formation of contacts between large and small companies interested in
'strategic partnerships7: generally speaking, those interested in 'corporate
venturing', a process which usually involves the taking of minority
shareholdings in smaller companies by larger ones. The register contains
details of new and established ventures that are seeking partners to help
them to realise their potential for unusually fast growth. These are scanned
by subscribers who are major UK based companies interested in making
investments in new areas.
The information is supplied by smaller firms and entrepreneurs (who are
charged £50) and is edited and presented as a series of anonymous cases -
covering the product or technology, history of the venture, future options
and their associated rescource requirements. It is updated and mailed to
(generally large company) subscribers who are charged on a sliding scale
corresponding to turnover, ranging from £250 to £2500 p.a.
When subscribers identify a case in which they are interested they notify the
NEDO Corporate Venturing Centre, who, in turn, provide the
corresponding (small) business with the identity of the subscriber and also
with other information. It is then at the discretion of the small
business/entrepreneur to establish contact with the subscriber.
Mrs. Sally Bishop,
National Economic Development Office (NEDO),
Millbank Tower,
Millbank,
London. SWlP4QX Tel:012115912
The Financial Times

It offers a 'Business Opportunities Section' (currently Tuesdays and
Saturdays) for advertisers to bring themselves and their interests to the
attention of others whose interests match theirs in some way.
This section carries advertisements fromn entrepreneurs ("Company
selling range of high-tech electro-mechanical equipment seeks
partnerlinvestor for expansion") and investors alike ("Engineer with capital
... seeks active participation in expanding business") - often using a box
number to retian initial anonymity.
Trying to make contact via the media is rather like using a blunderbuss in
contrast to a rifle. However, the Financial Times, with a daily circulation of
over 250,000 copies and claiming to reach over 60% of chief executives and
other senior executives in large and medium-sized companies, is probably
the foremost business newspaper in the UK. With such a reputation, it will
probably represent one of the better national newspapers for this type of
exercise.
Responses to advertisements may reach (or even easily exceed) double
figures, though some filtering of incompatible enquiries will probably be
necessary. It may also represent a useful method of making contact with
those whom one might not have thought of - say, with those whose
businesses are diversifying into new areas (perhaps via corporate
venturing).
Due regard should be paid to the wording of advertisements to avoid a
possible breach of the law (re. the offering shares to the public - see
Chapter 7).
Advertisements in the 'Business Opportunities Section' cost &5l/column
cm on Tuesdays. (February 1989).
For further details, contact (a move of address is planned for 1989):-
Financial Times,
Bracken House,
10 Cannon Street,
London. EC4P 4BY Tel: 01 248 8000
FURTHER INFORMATION: Risk Capital Sources

British Venture Capital Association (BVCA)
Formed, in 1983, "as a forum for the activities of the emerging venture capital
industy in the UK", the BVCA has 94 full members and 41 associate
members (April 1988).
Full members are those active in managing funds for long term equity
investment in British unlisted companies (normally in the form of minority
stkaes). Associates fall into two categories: a) those financial organisations
who invest in venture capital but only as a minor part of their overall
activities, and, b) those professional advisors who are generally involved in
the venture capital industry.
Those seeking to raise equity capital are encouraged to make direct contact
with member funds. Their details - e.g. names of funds managed, total
capital invested and available, portfolio size, investment preferences,
personal contacts &c. -can be found in the BVCA's directory (available free
of charge from the BVCA Secretariat).
The BVCA and Arthur Andersen, the accountancy firm, have jointly
published a 32pp guide: 'Businessplans andfinancingproposals' to help when
developing a business plan for raising venture capital.
BVCA Secretariat,
1 Surrey Street,
London. WC2R 2PS Tel: 01 836 5702
European Community support
In addition to the various UK sources, the European Community has
recently become actively interested in improving the availabilty of risk
capital to what it calls 'SMEs' (small and medium-sized enterprises).
The European Venture Capital Association - which as some 120 or so active
members from about 20 countries - is the organisation primarily involved
with the implementation of a pilot project to help SMEs.
Under a scheme designated 'Venture Consort', the EVCA received an initial
tranche of 2.7m ECU (£1.9m) for the acquisition of holdings by its members
in small and medium-sized businesses.
Businesses operating, for example, in the fields of biotechnology, energy
conservation, computer software and the designlproduction of
microcircuits would be considered as potential candidates. Other criteria
include the desirability of some 'European dimension' (e.g. co-operation
with a European Community-based partner) plus the need for the project to
be supported by venture capital funds from at least 2 EC member states.
But, judging by early reports of Venture Consort investments which
suggested an average investment level in excess of £100,000, its relevance
for those seeking amounts of around half this level is probably limited.
For further details on Venture Consort, contact:-
Mr. Ceurvorst,
EVCA,
11 F Clos du parnasse,
B 1040 Brussels,
Belgium. Tel: 010 32 2 513 74 39
On a more general note, the European Commission has 2 publications of
possible interest: namely:-
(1) 'Finance From Europe: A guide to grants and loans from the European
Community' (3rd Edition May 1986 21pp f.0.c.)
(2) 'Operations of the European Community concerning small and
medium-sized enterprises: Practical handbook' (1986 Edition ISBN
92 825 6444 4 214pp £10.90)
These are available from:-
HMSO
PO Box 276,
London. SW8 5DT Tel: 01 873 9090
The Commission of the European Communities has offices in:-
BELFAST Windsor House, 9/15 Bedford Street. BT2 7EG.
Tel: 0232 240708
CARDIFF 4 Cathedral Road. CF19SG
0222371631
EDINBURGH 7 Alva Street. EH2 4PH
031 225 2058
LONDON 8 Storey's Gate. SWlP 3AT
01 222 8122
Venture capital database

The accountants, Peat Marwick McLintock, in conjunction with Venture
Economics, maintain a comprehensive computer database which allows
them to extract, on a selective basis, details of various venture capital
sources as potential investment candidates.
Their database was used to help locate sources for inclusion in the
guidebook directory, and an abbreviated version has been published in the
'Financial Times' special surveys on venture capital.
Mr. John Hustler,
Peat Marwick McLintock,
1Puddle Dock,
Blackfriars,
London. EC4V 3PD Tel: 01 236 8000
(C) Regionalised Directory of Contacts
- CODES -
D = Department of Trade & Industry (DTI)

E = Enterprise Agency
I = Innovation Centre
M = Marriage Bureau or Linkage Service
R = Rural Development Commission
S = Small Firms Service
& = Source of Finance
&L = Local office for a Source of Finance
Other sources of business advice and information are shown
without a code.
EAST ANGLIA
(Cambridge. Norfolk, Suffolk)
BURY ST. EDMUNDS

E Mid-Anglian Enterprise Agency Ltd., Tel: 0284 60206
79 Whiting Street,
Bury St. Edmunds, Director: Jeff Webb
Suffolk. IP33 1NX
Cambridge Enterprise Agency Ltd., Tel: 0223 323553

71a Lensfield Road,
Cambridge. Director: Peter Manley
CB2 1EN
Rural Development Commission Tel: 0223 354505

24 Brooklands Avenue,
Cambridge. Senior Organiser: Robin Dunn
CB2 2BU
(for CAMBRIDGESHIRE)
EAST ANGLIA (continued)
S Small Firms Centre, Tel: 'Freefone Enterprise'

Carlyle House, or 0223 63312
Carlyle Road,
Cambridge. CB4 3DN Manager: Ron Lynch
(for CAMBRIDGESHIRE, NORFOLK, SUFFOLK)
& Cambridge Capital Management Ltd., Tel: 0223 312856

13 Station Road,
Cambridge. Contact: Francis Madden
CB1 2JB
& Prelude Technology Investments Ltd, Tel: 0223 862232

Science Park,
Milton Road, Contact: Dr. Bob Hook
Cambridge. CB4 4GF
M/&L Cambridge Venture Management, Tel: 0223 862618

(CVMl3i Seedcorn Fund),
Unit 136, Contact: Charlie Brown
Cambridge Science Park,
Milton Road, Cambridge. CB4 4GD
GREAT YARMOUTH
E Great Yarmouth Business Advisory Tel: 0493 850204
Service
Queens Road Business Centre,
Queens Road, Director: John Jennings
Great Yarmouth,
Norfolk. NR30 3HT
HUNTZNGDON
E Huntingdon Enterprise Agency Ltd., Tel: 0480 50028
49 High Street,
Huntingdon, Director: Bill Parker
Cambridgeshire. PE 18 6AQ
ZPSWZCH
E Ipswich Enterprise Agency (IPSENTA) Tel: 0473 59832
30A Lower Brook Street,
Ipswich, Executive Director: David Hennell
Suffolk. IP4 1AL
R Rural Development Commission, Tel: 0473 827893

133 High Street,
Hadleigh, Senior Organiser: Trevor Stockton
Ipswich. IP7 6BY
(for SUFFOLK)
KINGS LYNN
E West Norfolk Enterprise Agency Tel: 0553 760431
Trust Limited
7 King Street,
Kings Lynn, Director: John Fincham
Norfolk. PE30 1ET
LOWESTOFT
E Lowestoft Enterprise Trust Ltd., Tel: 0502 563286
19 Grove Road,
Lowestoft, Manager: Peter Comins
Suffolk. NR32 1EB
NOR WZCH
E Norwich Enterprise Agency Trust Ltd Tel: 0603 613023
112 Barrack Street,
Norwich. Director: Garry W. Flatres
NR3 1TX

13 Unthank Road,
Norwich. Senior Organiser: Geoff Morgan
NR2 2PA
(for NORFOLK)
PETERBOROUGH
E Peterborough Enterprise Programme Tel: 0733 310159
Broadway Court,
Broadway, Director: John Duckworth
Peterborough,
Cambridgeshire. PE1 IRP
SUDBURY
E Sudbury Enterprise Agency, Tel: 0787 73927
Guthrie House,
67 Cornard Road, Executive Director: David Cackett
Sudbury,
Suffolk. CO10 6XB
WZSBECH
E Fens Business Enterprise Trust Tel: 0945 587084
(FenBET) Limited
5 Ely Place,
Wisbech, Manager: David A. Rigley
Cambridgeshire. PE13 1EU
EAST MIDLANDS
(Derbyshire, Leicestershire, Lincolnshire,
Northamptonshire, Nottinghamshire)
ASHBOURNE
& Maystock Associates Ltd., Tel: 0335 44844
Millbank House,
34 St. John Street, Contact: M. C. Stevenson
Ashbourne,
Derbyshire. DE6 1GH
BZNGHAM
Chancel House,
East Street, Senior Organiser: John Taylor
Bingham,
Nottinghamshire. NG13 8DR
(for LEICESTERSHIRE & NOTTINGHAMSHIRE)
CHESTERFIELD
E North Derbyshire Enterprise Agency, Tel: 0246 207379
96 Saltergate,
Chesterfield, Director: Michael Horner
Derbyshire. S40 1LG
(also at CLAYCROSS, DRONFIELD, ECKINGTON, KILLAMARSH)
EAST MIDLANDS (continued)
CORBY
E Corby Industrial Development Centre Tel: 0536 62571
Douglas House,
Queens Square, Director: R. G. Jackson
Corby,
Northamptonshire. N N 17 IPL
DERBY
E Derby & Derbyshire Business Venture Tel: 0332 360345
Saxon House,
Heritage Way, Executive Director: George Bench
Friary Street,
Derby. DE1 1NL
(also at RIPLEY)
GRANTHAM
E South Lincolshire Enterprise Tel: 0476 68970
Agency Limited
Station Road,
Grantham, Managing Director: Mrs. Jaqueline Smith
Lincolnshire. NG3 1 6HX
(also at SLEAFORD, SPALDING)
KE TTERING
E Kettering Business Venture Trust Tel: 0536 5 13840
Limited
Douglas House,
27 Station Road, Managing Director: Harry Stevenson
Kettering,
Northamptonshire. NN 15 7HH
LEICESTER
M E Leicestershire Business Venture Ltd Tel: 0533 554464
30 New Walk,
Leicester, Director: Alan Lee
Leicestershire. LE1 6TF
(also at COALVILLE)
LINCOLN
E Lincoln Enterprise Agency, Tel: 0522 40775
Innovation Centre,
West Yard, Director: Denis Wilson
Ropewalk,
Lincoln. LN6 7DQ
MANSFIELD
E Mansfield Enterprise Partnership, Tel: 0623 21773
The Old Town Hall,
Market Place, Director: Peter Slack
Mansfield,
Nottinghamshire. NG18 1HX
NEWARK
E Newark Enterprise Agency, Tel: 0636 640666
The Firs,
67 London Road, Director: Brian Tindale
Newark,
Nottinghamshire. NG24 1RZ
NORTHAMPTON
M E Northamptonshire Enterprise Agency Tel: 0604 3740 1
Limited
Elgin House,
Billing Road, Managing Director: David Mann
Northampton. N N l 5AU

Hunsbury Hill Farm,
Harksome Hill, Contact: Mike Morris
Northampton. NN4 9QX
(for NORTHAMPTONSHIRE)
I Timken Business and Innovation Tel: 0604 79 1179

Centre,
Nene College,
Moulton Park, Centre Director: Michael Furminger
Northampton. NN2 7AH
NOTTINGHAM
E Nottinghamshire Business Venture, Tel: 0602 470914
City House,
Maid Marian Way, Director: Gordon Mackenzie
Nottingham. NG16BH
(also at SUTTON IN ASHFIELD)
D DTI East Midlands, Tel: 0602 596460

Severns House 0602 506181
20 Middle Pavement,
Nottingham. NG17DW
(for DERBYSHIRE, LEICESTERSHIRE,
LINCOLNSHIRE, NORTHAMPTONSHIRE, NOTTINGHAMSHIRE)

Severns House, or 0602 48 1184
20 Middle Pavement,
Nottingham. NG17DW Manager: Ron Lynch
(for DERBYSHIRE, LEICESTERSHIRE,
LINCOLNSHIRE,NORTHAMPTONSHIRE, NOTTINGHAMSHIRE)
& Nottinghamshire County Council, Tel: 0602 823823

Economic Development Unit,
County Hall, Contact: Ernest Wyatt
West Bridgford,
Nottingham. NG2 7QP
I Centre for Product Development, Tel: 0602 782200

Lenton Business Centre,
Lenton Boulevard, Manager: Andy Hurst
Nottingham. NG7 2BY
SLEAFORD
Council Offices,
Eastgate, Senior Organiser: David POW
Sleaford. NG34 7EB
(for LINCOLNSHIRE)
WZRKSWORTH
R Rural Development Commission, Tel: 062 982 4848
Ravenstor Road,
Wirksworth. Senior Organiser: Gerry Gino
DE4 4FY
(for DERBYSHIRE)
NORTH
(Cleveland, Cumbria, Durham, Northumberland,
Tyne & Wear)
ALNWICK
ME North Northumberland Enterprise Tel: 0665 605075
Agency
Hill House,
39 Bondgate Within, Director: Richard C. Morris
Alnwick,
Northumberland. NE66 1SX
BARROW
E Furness Business Initiative Ltd., Tel: 0229 22132
111 Duke Street, Chief Executive: Avril Willis
Barrow-in-Furness
Cumbria. LA14 1XA
BEDLINGTON STATION
M E South East Northumberland Trust Tel: 0670 828586
(SENET)
School Road,
Bedlington, General Manager: Tom Dean
Northumberland. NE22 7JB
(also at ASHINGTON, BLYTH)
BISHOP AUCKLAND
E Wear Valley Enterprise Agency, Tel: 0388 605061
St. Helen Auckland Trading Estate,
Bishop Auckland, Director: Peter Gawthrop
County Durham. DL14 9AL
CARLISLE
E Business Initiatives Carlisle, Tel: 0228 34120
Tower Buildings,
Scotch Street, Director: John Oliver
Carlisle,
Cumbria. CA3 8RB
NORTH (continued)
CHESTER LE STREET
ME Chester le Street and City of Tel: 091 3892648
Durham Enterprise Agency (CDC),
Mechanics Institute, Chief Director: Ronald Batty
Newcastle Road,
Chester le Street. DH3 3TS
[also at DURHAM)
CONSETT
ME Derwentside Industrial Development Tel: 0207 509124
Agency
Berry Edge Road,
Consett, Chief Executive: J. G. Carney
County Durham. DH8 5EV
DARLZNGTON
E Darlington & SW Durham Business Tel: 0325 480891
Venture Limited
The Imperial Centre,
Grange Road, Director: W. I. Carswell
Darlington,
County Durham. DL15NQ
R Rural Development Comission, Tel: 0325 487123

Morton Road,
Yarm Road Industrial Estate,
Darlington Senior 0rganiser:Eddie Tomlinson
County Durham. DL14PT
(for CLEVELAND, DURHAM, TYNE &WEAR)
EASZNGTON
E Easington Industrial Enterprise Ltd Tel: 091 5866555
3B Armstrong Road,
North East Industrial Estate,
Peterlee Chief Executive: D. Battensby
County Durham. SR8 5AE
GATESHEAD
E Design Works (Gateshead) Ltd., Tel: 091 261 7856
c10 60 Grainger Street,
Newcastle upon Tyne. Director: Robert Walmsley
NE1 5JG
NORTH (continued)
I North East Innovation Centre Ltd Tel: 091 490 1222

Saltmeadows Road,
Gateshead, Contact: Dr Jim Hedley
Tyne &Wear. NE8 3AH
HARTLEPOOL
E Hartlepool Enterprise Agency Ltd Tel: 0429 221216
Suite 7,
Municipal Buildings, Director: Alan Humble
Church Square,
Hartlepool, Cleveland. TS24 7ER
E Hartlepool New Development Support Tel: 0429 266522

Limited ~3721179
Old Municipal Buildings,
Upper Church Street, Director: Ron Preece
Hartlepool,
Cleveland. TS24 7ET
KENDAL
E Cumbria Rural Enterprise Agency, Tel: 0539 26624
44-46 Lound Road,
Kendal, Director: John Peat
Cumbria. LA9 7DZ
MIDDLESBROUGH
Cleveland Enterprise Agency Ltd., Tel: 0642 222836
52 -60 Corporation Road,
Middlesbrough, Chief Executive: Eric Sugden
Cleveland. TS12RN
(also at REDCAR, SALTBURN)
Cleveland Youth Business Centres, Tel: 0642 240656

6 North Street,
Middlesbrough, General Manager: Mike Reaney
Cleveland. TS2 1J L
MORPETH
E Northumberland Business Centre, Tel: 0670 511221
Southgate,
Morpeth, Business Development Officer:
Northumberland. NE61 2EH Graham Adams
NORTH (continued)

Northumberland Business Centre,
Southgate, Senior Organiser: Richard Kerven
Morpeth. NE61 2EH
(for NORTHUMBERLAND)
NEWCASTLE UPON TYNE

M E Tyne &Wear Enterprise Trust Ltd Tel: 091 261 4838
(ENTRUST)
Portman House,
Portland Road, Director: John Eversley
Newcastle upon Tyne. NE2 1BL
(also at GATESHEAD, WALLSEND, SUNDERLAND, SOUTH SHIELDS)
ME Project North East, Tel: 091 261 7856

60 Grainger Street,
Newcastle upon Tyne. Director: David Irwin
NE1 5JG
E Newcastle Youth Enterprise Centre, Tel: 091 261 6009

25 Low Friar Street,
Newcastle upon Tyne. Director: Chris Smith
NE1 SUE
E St. Thomas Street Workshops, Tel: 091 232 4895

St. Thomas Street,
Newcastle upon Tyne. Workshop Manager: Jeff Boden
NE1 4LE
D DTI North East, Tel: 091 235 7292

Stanegate House, 091 232 2722
2 Groat Market,
Newcastle upon Tyne. NE1 IYN
(for CLEVELAND, DURHAM,
NORTHUMBERLAND, TYNE & WEAR)
NORTH (continued)

15th Floor, or091 232 5353
Cale Cross House,
156Pilgrim Street, Manager: John Thurlbeck
Newcastle upon Tyne, NE1 6PZ
(for CLEVELAND, DURHAM,
NORTHUMBERLAND, TYNE &WEAR)
£ Northern Investors Company Ltd., Tel: 091 232 7068

Centro House,
3 Cloth Market, Managing Director: Michael Denny
Newcastle upon Tyne. NE1 1EE
£ Rank Xerox Pensions Ltd., Tel: 091 261 2993

c10 ENTRUST,
Portman House, Contact: P. Goodinson
Portland Road,
Newcastle upon Tyne. NE2 1BL
PENRZTH
Ullswater Road,
Penrith. Senior Organiser: Bill Robinson
CA1l 7EH
(for CUMBRIA)
SHZLDON
E Shildon & Sedgefield District Tel: 0388 777917
Development Agency Ltd.,
BREL Offices, Director: John William Robson
Byerley Road,
Shildon,. DL4 1PU
SOUTH SHIELDS
E M L Tyneside Economic Development Tel: 091 455 4300
Company Limited
Business Enterprise Centre,
Eldon Street, Chief Executive: M. G. Taylor
South Shields,
Tyne and Wear
NE33 5JE. Fund Contact: Tony Tompkins
NORTH (continued)
SUNDERLAND
E Sunderland Youth Enterprise Centre, Tel: 091 5109191
1-2 John Street,
Sunderland. Manager: Vincent T. Wright
SRl lUA
WORKINGTON
E Enterprise West Cumbria, Tel: 0900 65656
Thirlmere Building,
50 Lakes Road, Director: T. Winterbottom
Workington,
Cumbria. CA14 3YP
(also at MARYPORT, CLEATOR MOOR)
NORTH WEST
(Cheshire, Greater Manchester, Lancashire, Merseyside)
ACCRINGTON
E Hyndburn Enterprise Trust, Tel: 0254 390000
19 Avenue Parade,
Accrington, Director: Grant Seedhouse
Lancashire. BB5 6PN
ASHTON-UNDER-LYNE
E Tameside Business Advice Service, Tel: 061 339 8960
Charlestown Industrial Estate,
Turner Street, Director: Torn Jackson
Ashton-under-Lyne. OL6 8NS
BIRKENHEAD
E In Business Ltd., Tel: 05 1 647 7574
The Business Centre,
Claughton Road, Director: Denis H. Nork
Birkenhead,
Wirral. L41 6EY
NORTH WEST (continued)
E Cavendish Enterprise Centre Ltd, Tel: 051 653 4515

Brassey Street off Laird Street,
Birkenhead, Director: Jack Edwards
Wirral. L41 8BY
BLACKBURN
E Blackburn and District Enterprise Tel: 0254 664747
Trust,
14 Richmond Terrace,
Blackburn, Director: J. A. McKinstry
Lancashire. BB1 7BH
(also at DARWEN)
BLACKPOOL
E Blackpool & Fylde Business Agency Tel: 0253 294929
Limited,
20 Queen Street,
Blackpool, Director: John K. Perrins
Lancashire. FY1 IPD
BOLTON
E Bolton Business Ventures Ltd., Tel: 0204 391400
46 Lower Bridgeman Street,
Bolton. Director: Paul R. Davidson
BL2 1DG
BOOTLE
E South Sefton Enterprise Agency Tel: 051 933 0024
Limited,
Beaver Enterprise Workspace
58-60 Strand Road, Director: Peter Kennedy
Bootle,
Merseyside. L20 4BG
BURY
E Bury Enterprise Centre, Tel: 061 797 5864
12 Tithebarn Street,
Bury. Director: D. Gough
BL9 0JR
CHESTER
E Chester Enterprise Agency, Tel: 0244 3 11 474
Hoole Bridge,
Chester Director: M. C. Talbot
CH2 3NQ
CHORLEY
& Sapling North West Ltd., Tel: 02572 60411
Duxbury Park,
Duxbury Hall Road, Managing Director: E. A. Payne
Chorley,
Lancashire. PR7 4AT
CLITHEROE
E Ribble Valley Enterprise Agency Tel: 0200 22110
Limited,
Bank House,
2 York Street, Director: R. D. Dewhurst
Clitheroe,
Lancashire. BB7 2DL
CREWE
E South Cheshire Opportunity Tel: 0270 58969
for Private Enterprise (SCOPE),
SCOPE House, Director: Jake Muckersie
Weston Road,
Crewe. CW11DD
(also at CONGLETON)
ELLESMERE PORT
E Entep Trust Ltd., Tel: 051 356 3555
72A Whitby Road,
Ellesmere Port, General Manager: Peter Metcalfe
South Wirral. L65 OAA
(also at NESTON)
FLEETWOOD
E Wyre Business Agency Ltd., Tel: 03917 79279
WIBEC,
19-21Copse Road, Director: Michael C. Burton
Fleetwood,
Lancashire. FY7 6RP
(also at GARSTANG)
KIRKBY
E Knowsley Enterprise Agency, Tel: 05 1 548 3245
Admin Building,
Admin Road, Managing Director: F. G. Crawley
Knowsley Industrial Park (North),
Kirkby. L33 7TX
LANCASTER
E Business for Lancaster Ltd., Tel: 0524 66222
32B St. Leonard's House,
St. Leonardgate, Director: Gordon C. Peebles
Lancaster. LA1 INN
LEYLAND
E South Ribble Business Venture Ltd, Tel: 0772 422242
176 Towngate,
Leyland, Executive Director: Derek Wakefield
Lancashire. PR5 1TE
LIVERPOOL
E Business in Liverpool Ltd., Tel: 051 709 1231
Merseyside Innovation Centre,
131 Mount Pleasant, General Manager: S. C. Stevenson
Liverpool. L3 5TF
ME Merseyside Education Training Enterprise Ltd

(METEL),
6 Salisbury Street,
Liverpool. General Manager: Judith Manifold
L3 8DR
D DTI North West (Liverpool), Tel: 05 1 224 6300

Graeme House, 051 227 4111
Derby Square,
Liverpool. L2 7UP
(for LIVERPOOL, WIDNESIRUNCORN,
WIRRALICHESHIRE, ST. HELENSlWIGAN)

Graeme House, or 051 236 5756
Derby Square,
Liverpool. L2 7UJ Manager: Callum Dalton
(for MERSEYSIDE, CHESTER)
£ Merseyside Enterprise Board Ltd., Tel: 05 1 236 022 1

Royal Liver Building,
Water Street, Chief Executive: Ken Abbott
Liverpool. L3 1HT
I Merseyside Innovation Centre Ltd, Tel: 051 708 0123

131 Mount Pleasant,
Liverpool. Contact: Arthur Rimmer
L3 5TF
MACCLESFZELD
E Macclesfield Business Ventures, Tel: 0625 615113
Venture House,
Cross Street, Director: Graham R. Sanger
Macclesfield. SK l l 7PG
MANCHESTER
M E Manchester Business Venture, Tel: 061 236 0153
c10 Manchester Chamber of
Commerce & Industry,
56 Oxford Street, Director: Derek Gower
Manchester. M60 7HJ
E Agency for Economic Development Tel: 061 226 9434

Limited
8- 12 Parisian Way,
Moss Side Centre, Chief Executive: Volney Harris
Moss Lane East,
Manchester. M15 5NQ
D DTI North West (Manchester), Tel: 061 838 5000

Sunley Tower, 061 236 2171
Piccadilly Plaza,
Manchester. M1 4BA
(for CHESHIRE, CUMBRIA, MANCHESTER,
MERSEYSIDE, NW. DERBYSHIRE)

26-28 Deansgate, or 061 832 5282
Manchester. M3 IRH Manager: Richard Curry
(for CHESHIRE, CUMBRIA, LANCASHIRE,
MANCHESTER, NW. DERBYSHIRE, ISLE OF MAN)
& Greater Manchester Economic Tel: 061 236 4412

Development Corporation (GMEDC),
Bernard House, Contact: Ian Bolton
Piccadilly Gardens,
Manchester. M1 4DD
NORTHWZCH
E Vale Royal Small Firms Ltd., Tel: 0606 77711
Wallerscote House,
Winnington Lane, General Manager: V. Barry Lee
Northwich,
Cheshire. CW8 4EG
OLDHAM
E Oldham Enterprise Agency, Tel: 061 665 1225
Unit 26,
The Acorn Centre, Director: Roy Newton
Barry Street,
Oldham. OL13NE
ORMSKZRK
E West Lancashire Enterprise Trust Tel: 0695 78626
Limited
The Malt House,
48 Southport Road, Managing Director: Dr J. W. Smith
Ormskirk,
Lancashire. L39 1LX
(also at SKELMERSDALE)
PENDLE
ME Pendle Enterprise Trust Ltd., Tel: 0282 698001
19-23 Leeds Road,
Nelson, Executive Director: Ron Morrish
Pendle,
Lancashire. BB9 9SZ
PRESTON
E Preston Business Venture, Tel: 0772 25723
43 Lune Street,
Preston, Executive Director: Paul Arden
Lancashire. PR1 2NN

15 Victoria Road,
Fulwood Senior Organiser: John Nimmo
Preston. PR2 4PS
(for LANCASHIRE)
RAWTENSTALL
E Rossendale Enterprise Trust Ltd., Tel: 0706 229838
29 Kay Street,
Rawtenstall, Director: Bruce Harris
Rossendale,
Lancashire. BB4 7LS
(also at BACUP)
I Lancashire Business and Innovation Tel: 0706 218025

Centre,
Newhalhey Road,
Rawtenstall, Contact: John Binks
Rossendale,
Lancashire. BB4 6HN
ROCHDALE
E Metropolitan Enterprise Trust Tel: 0706 356250
Rochdale Area Ltd. (Business Help),
c10 T.B .A. Industrial Products
Ltd., Director: Bruce Harris
PO Box 40, Rooley Moor Road,
Rochdale. OL12 7EQ
RUNCORN
E Business Link Ltd., Tel: 09285 63037
62 Church Street,
Runcorn, General Manager: Bernard Burton
Cheshire. WA7 1LD
(also at WIDNES)
I Cheshire Business and Innovation Tel: 0928 580462

Centre,
6 Seymour Court,
Manor Park, Managing Director: John Melluish
Runcorn,
Cheshire. WA7 1SY
ST. HELENS
E Community of St. Helens Trust Ltd Tel: 0744 696771
PO Box 36,
St. Helens, Director: Ron Halford
Merseyside. WAlO 3TT
& Fourth St. Helens BES Syndicate, Tel: 0744 696775

c10 Community of St. Helens Trust Ltd.,
PO Box 36, Contact: Ron Halford
St. Helens,
Merseyside. WAlO 3TT
SALE
E Trafford Business Venture, Tel: 061 905 2950
Third Floor,
Six Acre House, Director: John D. Stembridge
Town Square,
Sale, Cheshire. M33 1XZ
(also at STRETFORD)
SALFORD
E Salford Hundred Venture Ltd., Tel: 061 835 1166
Stamford House,
361 Chapel Street, Director: M. T. Finnie
Salford,
Manchester. M3 5JY
SOUTHPORT
E Southport Marketing & Enterprise Tel: 0704 44173
Bureau Limited,
Pavilion Buildings,
99- 105 Lord Street, Director: Peter J. Meakin
Southport. PR8 1RJ
STOCKPORT
E Stockport Business Venture Ltd., Tel: 061 432 3770
PO Box 66,
Crossley Road, Chief Executive: Mr. Bill Hurren
Heaton Chapel,
Stockport. SK4 5BH
WARRINGTON
E Warrington Business Promotion Tel: 0925 33309
Bureau,
Barbauld House,
Barbauld Street, Director: Brian Rick
Warrington. WA12QY
WZGAN
E Wigan New Enterprise Ltd., Tel: 0942 496591
45 Bridgeman Terrace,
Wigan, Managing Director: Fred Bamber
Lancashire. WN1 I T T
YORKSHIRE @ HUMBERSIDE
(Humberside, North Yorkshire, South Yorkshire, West
Yorkshire)
BARNSLEY
E Barnsley Enterprise Centre, Tel: 0226 733291
1 Pontefract Road,
Barnsley . Business Adviser: Valerie Fairbank
S71 1AJ
(also at GOLDTHORPE)
YORKSHIRE & HUMBERSIDE (continued)

12 Churchfidds Court,
Barnsley, Senior Organiser: Ken Dutton
South Yorkshire. S70 2J T
(for WEST & SOUTH YORKSHIRE)
I Barnsley Business & Innovation Tel: 0226 249590

Centre
Wilthorpe Road
Barnsley, Contact: Brian King
South Yorkshire. S75 1JS
BRADFORD
E Bradford Enterprise Agency, Tel: 0274 734359
Commerce House,
Cheapside, Director: Tom Boyd
Bradford,
West Yorkshire. BD1 452
& West Yorkshire Small Firms Tel: 0274 754546

Fund Limited
Ground Floor Contact: Terry Smith
Kershaw House
55 Well Street
BRADFORD BD1 5PS
BRZGG
E South Humberside Business Tel: 0652 57637
Advice Centre,
7 Market Place, Chief Executive: Derek Marshal1
Brig&
South Humberside. DN20 8HA
DONCASTER
E DonBAC - The Doncaster Enterprise Tel: 0302 340320
Agency & Business Advice Centre,
19-21Hallgate, Director: Brian J. Crangle
Doncaster. DN1 3NA
GOOLE
14 Market Place,
Howden, Contact: Tony Burton
Goole,
North Humberside. DN14 7BJ
(for HUMBERSIDE)
GRIMSBY
E Grimsby & Cleethorpes Area Tel: 0472 241869
Enterprise Agency Ltd.,
Norwich Union House, Chief Executive: G. J. Mellor
27 Osborne Street,
Grimsby, South Humberside. DN31 1EY
HALIFAX
E Calderdale Small Business Tel: 0422 69487
Advice Centre (CaSBAC),
OP53 Dean Clough Office Park,
Dean Clough Director: Alan H Craddock
Halifax. HX1 1XG
HUDDERSFIELD
E Kirklees & Wakefield Venture Tel: 0484 531352
Trust,
Commerce House,
New North Road, Manager: Clive Pawson
Huddersfield. HD1 5JP
(also at CASTLEFORD,SOUTH ELMSALL, WAKEFIELD
HULL
E Hull Business Advice Centre, Tel: 0482 27266
24 Anlaby Road,
Hull, Director: Peter Haysom
North Humberside. HU12PA
I Hull Innovation Centre, Tel: 0482 226348

Guildhall Road,
Queens Gardens, Director: Mrs. Dawn Smith
Hull. HU1 1HJ
LEEDS
ME Leeds Business Venture Ltd., Tel: 0532 446474
Commerce House,
2 St. Alban's Place, Director: Derek Varley
Leeds. LS2 8HZ
D DTI Yorkshire & Humberside, Tel: 0532 338300

Priestley House, 0532 443171
3- 5 Park Row,
Leeds. LS15LF
(for YORKSHIRE, HUMBERSIDE)

1 Park Row, or 0532 445151
City Square,
Leeds. LSl5NR Manager: David Dench
(for YORKSHIRE, HUMBERSIDE)
£ Yorkshire Enterprise Ltd., Tel: 0532 420505

Elizabeth House,
Queen Street, Contact: Cheryl Foley
Leeds. LS12TW
(for BARNSLEY, BRADFORD, CALDERDALE, HUMBERSIDE
and SHEFFIELD Funds also)
NORTHALLERTON
£ North Yorkshire County Council, Tel: 0609 780780
County Hall, x2273
Northallerton. Contact: P. W. Whitaker
DL7 8AD
RICHMOND
M E Richmond & Northallerton Tel: 0748 6262
Business Venture Ltd.
13Market Place, Managing Director: Alan Slater
Richmond,
North Yorkshire. DLlO 5PX
ROTHERHAM
E Rotherham Enterprise Agency Ltd., Tel: 0709 382121
2nd Floor, All Saints Buildings x3463
2 1 Corporation Street,
Rotherham Executive Director: E. H. Lunness
S60 1NX
(also at TREETON, WATH UPON DEARNE)
SCARBOROUGH
E Scarborough, Filey & District Tel: 0723 354454
Business Development Agency Ltd.,
4th Floor Skipton Chambers,
32 St Nicholas Street, Director: Norman H. Swain
Scarborough,
North Yorkshire. YOl l 2HF
SHEFFIELD
M E Sheffield Enterprise Agency(SENTA) Tel: 0742 755721
6 1-69 Leavygreave Road,
Sheffield, Director: Barrie Briggs
South Yorkshire. S3 7RB
SKIPTON
E The Yorkshire Dales Enterprise Tel: 0756 748194
Agency Limited
21 High Street,
Gargrave, Director: Mike Trestrail
Nr. Skipton,
North Yorkshire. BD23 3RW
WHZTBY
E Whitby & District Tel: 0947 600827
Business Development Agency Ltd.,
3 Bagdale, Director: Peter Edwin Horn
Whitby,
North Yorkshire. Y021 1QL
YORK
E York Enterprise Ltd., Tel: 0904 646803
York Enterprise Centre,
l Davygate, Chief Executive: Richard Foster
York. Y012QE
E Vale of York Small Tel: 0904 641401

Business Association,
York Enterprise Centre, Director: G. Elliott
1 Davygate,
York. Y012QE

William House,
Shipton Road, Senior Organiser: Jim McKinney
Skelton,
York. Y 0 3 6WZ
(for NORTH YORKSHIRE)
WEST MIDLANDS
(Hereford& Worcester, Shropshire, Stafford, Watwick,
West Midlands)
AUDLEM
6 Shropshire Street,
Audlem, Senior Organiser: Kay Homer
Cheshire. CW3 ODY
(for CHESHIRE & STAFFORDSHIRE)
BIRMINGHAM
M E Birmingham Venture, Tel: 021 454 6171
Chamber of Commerce House,
75 Harborne Road, Manager: J. D. Bullivant
Birmingham. B15 3DH
E 3B Black Business in Birmingham Tel: 021 6312860

15 The Square,
111 Broad Street, Director: Kofi Adjei
Birmingham. B15 1AS
WEST MIDLANDS (continued)
D DTI West Midlands, Tel: 021 632 4111

Ladywood House,
Stephenson Street,
Birmingham. B2 4DT
(for HEREFORD & WORCESTER, SHROPSHIRE,
STAFFORDSHIRE, WARWICKSHIRE, WEST MIDLANDS)

9th Floor - Alpha Tower, or 02 1 643 3344
/ Suffolk Street,
Queensway,
Birmingham. B1 1TT
(for HEREFORD, WORCESTER, SHROPSHIRE, COVENTRY,
STAFFORDSHIRE, WARWICKSHIRE, WEST MIDLANDS)
& Birmingham Technology Ltd., Tel: 021 359 0981

Aston Science Park,
Love Lane, Contact: D. W. Harris
Aston Triangle,
Birmingham. B7 4BJ
& Black Country Venture Capital Tel: 021 236 8855

Fund Limited
Wellington House Contact: Martin Booth
3 1-34 Waterloo Street
Birmingham
B2 5TJ
& Mercia Venture Capital Ltd., Tel: 021 233 3404

126 Colmore Row,
Birmingham. Contact: D. F. Houlihan
B3 3AP
I Birmingham Technology Ltd., Tel: 021 359 0981

Aston Science Park,
Love Lane, Contact: H. A. Nicholls
Aston Triangle,
Birmingham. B7 4BJ
BURTON ON TRENT
E Burton Enterprise Agency Ltd., Tel: 0283 37151
Midland Railway Grain Warehouse,
Derby Street, Director: F. D. Barrow
Burton on Trent. DE14 2JJ
(also at BURNTWOOD, LICHFIELD, TAMWORTH, UTTOXETER)
CANNOCK
E Cannock & Burntwood Enterprise Tel: 0543 466566
Agency Limited,
c10 F & V Linford Ltd.,
PO Box 14, Park Road,
Cannock, Executive Director: Peter Atkinson
Staffordshire. WSl l 1JW
COVENTRY
E Coventry Business Centre, Tel: 0203 552781
Christchurch House,
Greyfriars Lane, Director: John Simpson
Coventry. CV1 2GY
£ Coventry Venture Capital Tel: 0203 831340

Fund Ltd.,
Tower Block Contact: James Hunt
Much Park Street
Coventry CV1 2PY
I University of Warwick Tel: 0203 418535

Science Park Ltd.,
Barclays Venture Centre, Contact: David N. E. Roe
Sir William Lyons Road,
Coventry. CV4 7EZ
DUDLEY
ME Dudley Business Venture, Tel: 0384 231283
Stanton House,
10Castle Street, Director: J. G. Standish
Dudley,
West Midlands. DY 1 1LQ
HENLEY IN ARDEN
Stanley House
47A High Street Organiser: G. N. Wright
Henley in Arden
Solihull B95 5AA
(for WARWICKSHIRE)
HEREFORD
E Herefordshire Enterprise Agency Tel: 0432 276898
Limited
Berrows Business Centre,
Bath Street, Director: Derek 0 Herbert
Hereford. HR12HE
MALVERN
32 Church Street,
Malvern, Senior Organiser: Sandy Fraser
Hereford & Worcester. WR14 2AZ
(for GLOUCESTERSHIRE, HEREFORD & WORCESTER)
NUNEATON
& Warwickshire Ventuce Capital Tel: 0203 375469
Fund Ltd.,
Business Initiatives Office
Vicarage Street Contact: Terry Quainton
Nuneaton CV1l 4AZ
REDDZTCH
E Redditch Enterprise Agency Ltd., Tel: 0527 501122
Rubicon Centre,
17 Broad Ground Road, Director: Ron Herd
Lakeside, Redditch,
Worcestershire. B98 8YP
SOLIHULL
E Solihull Business Enterprise Ltd. Tel: 021 704 1456
Vulcan House,
Vulcan Lane, Director: Fred Smallman
Lode Lane Industrial Estate,
Solihull, West Midlands. B91 1JI
STAFFORD
E Stafford Enterprise Ltd., Tel: 0785 57057
718 Mill Street,
Stafford. Director: John Cooper
ST16 2AJ
M Staffordshire Development Tel: 0785 51449

Association
Martin Street, Contact: Peter Wood
Stafford.
ST16 2LH
STOKE ON TRENT
E North Staffs & District Business Tel: 0782 279013
Initiative
Commerce House,
Festival Park, Etruria, Director: Tony Brooks
Stoke on Trent,
Staffordshire. ST1 5BE
TELFORD
E Shropshire Enterprise Trust Ltd., Tel: 0952 56624
National Westminster Bank Chambers,
The Green, Church Street, Director: E. A. Houghton
Wellington, Telford,
Shropshire. TF1 1DN

Strickland House,
The Lawns, Senior Organiser: Cyril Stannet
Park Street,
Telford. TF13BX
(for SHROPSHIRE)
I Industrial Development Unit, Tel: 0952 290329

Telford Industrial Centre,
Stafford Park 4, Contact: David Chiva
Telford. TF3 3BA
WALSALL
E Walsall Small Firms Advice Unit Tel: 0922 646614
Limited
Jerome Chambers,
Bridge Street, Director: David G. Porter
Walsall,
West Midlands. WS 1 1EX
WARWICK
E Warwickshire Enterprise Agency, Tel: 0926 495685
Northgate South,
Northgate Street, Executive Director: C. D. Edwards
Warwick. CV34 4JH
(also at NUNEATON)
WEST BROMWZCH
E Sandwell Enterprise Ltd., Tel: 021 569 2231
Sandwell Business Advice Centre,
Victoria Street, Director: A. W. Woodhouse
West Bromwich, Sandwell,
West Midlands. B70 8ET
WOLVERHAMPTON
E Wolverhampton Enterprise Ltd., Tel: 0902 312095
Exchange Street,
Wolverhampton. Acting Manager: Phi1Wilson
WV1 ITS
WORCESTER
E Worcestershire Enterprise Agency, Tel: 0905 612412
First Floor,
Marmion House, Director: Gordon Moone
Copenhagen Street,
Worcester. WRl 2HB
SOUTH EAST
(Bedford, Berkshire, Buckingham, East Sussex, Essex,
Greater London, Hampshire, Hertfordshire, Isle of Wight,
Kent, Oxford, Surrey, West Sussex)
ALDERSHOT
E Blackwater Valley Enterprise Trust Tel: 0252 319272
Limited
The Old Town Hall,
Grosvenor Road, Director: Walter T Oakey
Aldershot,
Hampshire. GUl l 3DP
(also at CAMBERLEY)
ALTON
E East Hampshire Enterprise Ltd., Tel: 0420 87577
c10 Bass Brewing (Alton) Ltd.,
Manor Park, Director: Alex C. Addison
Alton,
Hampshire. GU34 2PS
(also at BORDON, PETERSFIELD)
ASHFORD
ME Enterprise Ashford Ltd., Tel: 0233 30307
Enterprise Centre,
Old Railway Works, Director: Alan Duncan
Newtown Road, Ashford,
Kent. TN24 OPD
AYLESBURY
E Aylesbury Vale Business Advice Scheme, Tel: 0296 394555
23A Walton Street,
Aylesbury. Head Adviser: Victor Nichols
HP20 1TZ
BANBURY
E North Oxfordshire Business Ltd. Tel: 0295 67900
(NORBIS)
33a Crouch Street,
Banbury, Director: John Trumper
Oxon. OX16 9PR
SOUTH EAST (continued)
BASZNGS TOKE
E Basingstoke & Andover Enterprise Tel: 0256 54041
Centre
9 New Street,
Joices Yard, Director: Colin Close
Basingstoke,
Hampshire. RG21 1DF
(also at ANDOVER)
BASZLDON
E Basildon & District Tel: 0268 286977
Local Enterprise Agency Ltd.
lOla Keay House, Director: Brian Bazzard
88 Town Square, Basildon,
Essex. SS14 1BN
(also at LAINDON)
BEDFORD
Argicultural House,
55 Goldington Road, Contact: Rex Whitmore
Bedford. MK40 3LU
(for BEDFORDSHIRE)
BRAINTREE
E Braintree District Enterprise Agency Tel: 0376 43140
Limited
Town Hall Centre,
Market Square, Executive Director: Brian Holby
Braintree,
Essex. CM7 6YG
(also at WITHAM AND HALSTEAD)

64a High Street,
Braintree. Contact: Peter Williams
CM7 7JP
(for ESSEX)
BRENTWOOD
E Brentwood Enterprise Agency, Tel: 0277 213405
1-2 Severn Arches Road,
Brentwood, Director: Geoff Jennings
Essex. CM15 8AY
BRIGHTON
E Brighton & Hove Business Tel: 0273 688882
Enterprise Agency Ltd.,
23 Old Steine, Director: Michael J. Hogg
Brighton. BNl 1EL
(also at LEWES)
CANTERBURY
M E East Kent Enterprise Agency, Tel: 0227 470234
45 North Lane,
Canterbury. Director: Colin Atkins
CT2 7EF
(also at DOVER, THANET)
CHATHAM
ME Medway Enterprise Agency Ltd., Tel: 0634 830301
Railway Street,
Chatham, Director: Guy Sibley
Kent. ME4 4RR
(also at GILLINGHAM)
CHELMSFORD
E Chelmsford Enterprise Agency Ltd., Tel: 0245 490281
Unit A03 Globe House,
New Street, Director: John Antony Harris
Chelmsford,
Essex. CM1 1PP
E Essex Business Centre, Tel: 0245 283030

Chelmer Court,
Church Street, Director: Roy W McLarty
Chelmsford,
Essex. CM1 I N H
(also at BASILDON)
CHORLEYWOOD
& Smithdown Investments Ltd., Tel: 09278 5 199
Barkhill House,
Shire Lane, Contact: G. L. Taylor
Chorleywood,
Hertfordshire. WD3 5NT
CLACTON-ON-SEA
E Enterprise Tendering Ltd., Tel: 0255 421225
27A Pier Avenue,
Clacton-on-Sea, Manager: Christine A. Cundall
Essex. C015 1QE
(also at HARWICH)
COLCHESTER
M E Colchester Business Enterprise Agency, Tel: 0206 48833
Gate House,
High Street, Director: John Hitchman
Colchester,
Essex. C 0 1 1UG
(also at MALDON)
DARTFORD
M E North West Kent Enterprise Agency, Tel: 0322 91451
2A Hythe Street,
Dartford, Director: Michael Fitzpatrick
Kent. DA1 1BT
EASTBOURNE
E Eastbourne & District Enterprise Tel: 0323 644470
Agency Limited,
68 Grove Road,
Eastbourne, Director: Robin Smith
East Sussex. BN21 1DS
ASTMO LESLEY
£ The Young Entrepreneurs Fund Ltd., Tel: 01 783 1099
The Seymour Suite,
65-69 Walton Road, Contact: David Wells
East Molesley,
Surrey. KT8 ODP
FOLKESTONE
M E Shepway Business Advisory Panel Ltd., Tel: 0303 59162
24 Cheriton Gardens,
Folkestone, Director: A. T . Pearce
Kent. CT20 2AS
(also at NEW ROMNEY)
GRAVESEND
M E Gravesham Enterprise Agency, Tel: 0474 327118
22 Wrotham Road,
Gravesend, Director: Jim Pritchard
Kent. DAl l OPA
GRAYS
E Thurrock Local Enterprise Tel: 0375 374362
Agency Ltd.,
79A High Street,
Grays, Director: John F. G . Brace
Essex. RM17 6NX
HARLOW
E Enterprise Agency Ltd., Tel: 0279 38077
19 The Rows,
The High, Director: John Greener
Harlow,
Essex. CM20 1DD
(also at HERTFORD)
HASTINGS
E Hastings Business Ventures Ltd., Tel: 0424 433333
18 Cornwallis Gardens,
Hastings, Director: Ted Bridgeman
East Sussex. TN34 1LP
HATFZELD
E Welwyn & Hatfield Enterprise Agency Tel: 07072 67635
Limited,
5 Queensway House,
Town Centre, Director: J. Ken Sumeray
Hatfield,
Hertfordshire. ALlO ONR
HEMEL HEMPSTEAD
E The Dacorum Enterprise Agency, Tel: 0442 232333
Swallowdale Lane,
Hemel Hemstead. Director: Tom Hughes
HP2 7EL
HENLEY ON THAMES
£ Seed Capital Ltd., Tel: 0491 579999
Boston Road,
Henley on Thames. Contact: Lucius Cary
RG9 1DY
ISLE OF WZGHT
E Isle of Wight Enterprise Agency Ltd., Tel: 0983 529120
6 Town Lane,
Newport, Director: Don Crabtree
Isle of Wight. P030 1JU

6-7 Town Lane,
Newport, Contact: Robin Cooke
Isle of Wight. P030 1JU
(for ISLE OF WIGHT)
LETCHWORTH GARDEN CITY

E Letchworth Garden City Business Tel: 0462 678272
Centre
Avenue One,
Business Park, Business Consultant: Stephen Brockrnan
Letchworth Garden City,
Hertfordshire. SG6 2HB
LEWES
Sussex House,
212 High Street, Senior Organiser: Eifion Jones
Lewes. BN7 2NH
(for SUSSEX)
LONDON
GREATER LONDON
D DTI South East, Tel: 01 215 7877
Bridge Place, 01 730 9678
88 - 89 Eccleston Square,
London. SW1 1PT
(for LONDON AND MIDDLESEX)
LONDON (continued)

Ebury Bridge House, or 01 730 8451
2- l 8 Ebury Bridge Road,
London. SWlW 8QD Manager: Brenda Haddock
(for LONDON, KENT, MIDDLESEX, EAST SUSSEX)
& Audley Securities Ltd., Tel: 01 408 1234

65 Duke Street,
London. Contact: D Ravden
W l M 5DH
& Bexley Venture Capital Ltd., Tel: 01 303 7777

Cl0 Economic Development Unit,
London Borough of ~ e x l e ~ , Contact: Andrew Bennett
Marlowe House,
109 Station Road
Sidcup, Kent. DA15 7ET
& Hackney Enterprise Board, Tel: 01 739 4654

46 Great Eastern Street,
London. Contact: S. Burchell
EC2A 3EP
& Investors in Industry plc, Tel: 01 928 7822

91 Waterloo Road,
London. Contact: Ian Menzies
SE1 8XP
& JMI Advisory Services Ltd., Tel: 01 930 7107

85-87 Jermyn Street,
London. Contact: Philip Percival
SWlY 6JD
& Metrogroup plc Tel: 01 404 5620

7 Southampton Place
LONDON Contact: Andrew Blair
WClA 2DR
LONDON (continued)
£ Thompson Clive & Partners Ltd., Tel: 01 491 4809

24 Old Bond Street,
London. Contact: Steve Black
W1X 3DA
I South Bank Technopark, Tel: 01 928 2900

90 London Road, Contact: M. Jeffers
London. SE1 6LN
I The Technology Exchange Ltd., Tel: 01 403 0300

63/67 Newington Causeway,
London. Director: Brian Padgett
SE1 6BD
BRENTFORD
E Enterprise Hounslow Ltd., Tel: 01 847 3269
13 Boston Manor Road,
Brentford. Director: Tony Hazel1
TW8 9DT
BRZXTON
E South London Business Initiative Ltd., Tel: 01 274 4000
444 Brixton Road, x375
Suite 113-114 Director: Walter V. Baker
Brixton Enterprise Centre,
London. SW9 8EJ
BROMLEY
ME Bromley Enterprise Agency Trust Ltd., Tel: 01 290 6568
7 Palace Grove,
Bromley, Director: Ronnie W. Fenn
Kent. BR1 3HA
CAMDEN TOWN
E Camden Enterprise Ltd., Tel: 01 482 2128
57 Pratt Street,
Camden, Manager: Allen Lever
London. NW1 ODP
LONDON (continued)
CITY
&IME London Enterprise Agency (LEntA), Tel: 01 236 3000
4 Snow Hill,
London. Chief Executive: Brian Wright
EClA 2BS Innovations Adviser: Dr. Hilary Trudeau
(also at SPITALFIELDS, TOTTENHAM)
CROYDON
E Croyden Business Venture Ltd., Tel: 01 681 8339
26 Barclay Road,
Croydon, Director: Sydney Laurence
Surrey. CRO 1JN
DEPTFORD
E Deptford Enterprise Agency, Tel: 01 692 9204
146 Deptford High Street,
Deptford, Director: Joe Greenland
London. SE8 3PQ
EALING
E Enterprise Ealing Ltd., Tel: 01 840 2667
69/71 Broadway,
West Ealing. Consultant Director: Gordon Foss
W13 3PT
EDMONTON
E Enfield Enterprise Agency, Tel:01 807 5333
2-3 Knights Chambers,
32 South Mall, Director: Alan Wilks
Edmonton Green,
London. N9 OTL
(also at PONDERS END)
FZNCHLEY
E Barnet Enterprise Trust Ltd., Tel: 01 346 2187
Hertford Lodge,
East End Road, Chief Executive: Peter Love11
Finchley,
London. N3 3QE
FZNSBURY PARK
E North London Business Development Tel: 01 359 7405
Agency,
35/37 Blackstock Road,
Finsbury Park, Director: Manny Cotter
London. N4 2JF
LONDON (continued)
HACKNEY
E Hackney Business Venture, Tel: 01 739 7941
130- 150 Hackney Road,
London. Director: Paul Chaplin
E2 7QL
HAMMERSMITH & FULHAM

E Hammersmith & Fulham Business Tel: 01 741 7248
Resources Limited,
5th Floor,
The Town Hall, Director: David Mitchell
King Street, Hammersmith,
London. W6 9JU
HARROW
E Harrow Enterprise Agency Ltd., Tel: 01 427 6188
2 Courtfield Avenue,
Harrow, Director: Douglas Ramsay
Middlesex. HA1 2LW
ISLINGTON
E Manor Gardens Enterprise Centre, Tel: 01 272 8944
10-18 Manor Gardens,
London. Director: Patrick Quarry
N7 6JY
Project Fullemploy, Tel: 01 251 6037

Unit 120 Clerkenwell Workshops,
3 1 Clerkenwell Close, Contact: Richard Haynes
London. EC l R OAT
MORDEN
E Merton Enterprise Agency Ltd., Tel: 01 545 3067
12th Floor,
Crown House, Director: Harry Corben
London Road, Morden,
Surrey. SM4 5DX
PADDINGTON
E Westminster Enterprise Agency Ltd., Tel: 01 286 1740
Beauchamp Lodge,
2 Warwick Crescent, Director: Bob MacLean
London. W2 6NE
LONDON (continued)
ROMFORD
E North East Thames Business Advisory Tel: 0708 766438
Centre
Marshalls Chambers,
80A South Street, Director: Ulrik Middelboe
Romford,
Essex. RM1 1RP
(also at BARKING, ILFORD)
R UISLIP
E Hillingdon Enterprise Agency Ltd., Tel: 0895 73433
400a Long Lane,
Hillingdon, Director: Don Hynds
Middlesex. UB l 0 9PG
SUTTON
E Sutton Enterprise Agency Ltd., Tel: 01 643 9430
11 Lower Road,
Sutton, Director: John Jardine
Surrey. SM14QJ
TOWER HAMLETS
E Tower Hamlets Centre Tel: 01 377 8821
for Small Business Ltd.,
76 Wentworth Street, General Manager: Ian R. Lorkin
London. E1 7SE
TWICKENHAM
E Richmond upon Thames Tel: 01 891 3742
Enterprise Agency Ltd.
55 Heath Road, Director: Brian Parkinson
Twickenham,
Middlesex. T W l 4AW
WEMBLEY
E Brent Business Venture Ltd., Tel: 91 903 7300
12 Park Lane,
Wembley, Executive Director: Anthony Ure
Middlesex. HA9 7RP
(also at CRICKLEWOOD)
HOME COUNTIES
LOUGHTON
E Forest Enterprise Agency Trust, Tel: 01 508 7435
Feat House (Rear of Swimming Pool),
Traps Hill, Director: Mr Gerry F. Clarke
Loughton,
Essex. IG1O 1SZ
LUTON
E Bedfordshire Community Enterprise Tel: 0582 452288
Agency,
Enterprise House,
7 Gordon Street, Chief Executive: The Rev. Derek Upcott
Luton,
Bedfordshire. LU12QP
(also at BEDFORD, DUNSTABLE)
MAIDSTONE
M E The Maidstone Enterprise Agency Tel: 0622 675547
Ltd.,
25a Pudding Lane,
Maidstone, Director: Ian Dumbreck
Kent. ME14 IPA

8 Romney Place,
Maidstone. Contact: Peter Graham
ME15 6LE
(for KENT)
& Kent Economic Development Board, Tel: 0622 679976

Brenchley House,
Week Street, Chief Financial Executive: David Morse
Maidstone,
Kent. ME14 IRF
MZLTON KEYNES
M E Milton Keynes Business Venture, Tel: 0908 660044
Civic Offices (Level 3),
1 Saxon Gate East, Executive Director: John Carpenter
Central Milton Keynes. MK9 3JH
HOME COUNTIES (continued)
OXFORD
E Thames Business Advice Centre, Tel: 0865 249279
8th Floor Seacourt Tower,
West Way, Director: B. J. Hills Spedding
Oxford,
Oxfordshire. OX2 0JP
& Oxford Seedcorn Capital Ltd, Tel: 0865 53535

2 13 Woodstock Road
Oxford Contact: Anthony Costley-White
OX2 7AD
PORTSMOUTH
E Portsmouth Area Enterprise, Tel: 0705 833321
27 Guildhall Walk,
Portsmouth, Director: Bill Sumner
Hampshire. P 0 1 2RY
(also at FAREHAM, GOSPORT)
READING
&E Berkshire Enterprise Agency, Tel: 0734 585715
10- 12 The Forbury,
Reading, Berkshire. RG13EW Director: Roy Hale
(also at NEWBURY)

Abbey Hall, or 0734 591733
Abbey Square,
Reading. RG13BE Manager: Roger Harris
(for BERKSHIRE,HAMPSHIRE, ISLE OF WIGHT,
OXFORDSHIRE,SURREY, SUSSEX)
ST. ALBANS
E St. Albans Enterprise Agency Ltd. Tel: 0727 37760
(STANTA)
Unit 6G St. Albans Enterprise Centre,
Long Spring, Executive Director:
Porters Wood, St. Albans, K. J. Hughesman
Hertfordshire. AL3 6EN
SITTZNGBOURNE
M E Swale Enterprise Agency, Tel: 0795 27623
Unit 4B Smeed Dean Centre,
Eurolink, Director: Nigel J. Gilbert
Sittingbourne,
Kent. ME10 3RN
SOUTHAMPTON
E Southampton Enterprise Agency, Tel: 0703 788088
Solent Business Centre,
Millbrook Road West, Director: John Townsend
Southampton,
Hampshire. S 0 1 OHW
(also at EASTLEIGH, LYNDHURST)
& Southampton Economic Tel: 0703 832401

Development Corporation Ltd.,
Civic Centre, Contact: J. M. Brook
Southampton. S 0 9 4WY
SOUTHEND
E Southend Enterprise Agency Ltd., Tel: 0702 714115
Commerce Centre,
845 London Road, Business Development:
Westcliffe-on-Sea, Gordon Barrett
Essex. SS0 9SZ
STEVENAGE
M E Stevenage Initiative Ltd., Tel: 0438 315733
Business & Technology Centre,
Bessemer Drive, Executuve Director: M G Amos
Stevenage,
Hertfordshire. SG12DX

Business and Technology or 0438 743377
Centre,
Bessemer Drive Manager: Chris Temple
Stevenage
Herts SG12DX
(for BEDFORDSHIRE, BUCKINGHAMSHIRE, ESSEX &
HERTFORDSHIRE)
TONBRIDGE
M E Great Weald Enterprise Agency, Tel: 0732 360133
34a High Street,
Tonbridge, Director: Ron Booth
Kent. TN9 1EJ
WALLINGFORD
R Rural Development Commission,
- Tel: 0491 35523
The Maltings,
St. John's Road, Senior Organiser: Jan Balkwill
Wallingford. OX10 9BZ
(for BERKSHIRE, BUCKINGHAMSHIRE & OXFORD)
WATFORD
E Watford Enterprise Agency, Tel: 0923 247373
The Business Centre,
Colne Way, Director: Ken Hards
Watford,
Hertfordshire. WD2 4ND
WOKZNG
E Surrey Business Enterprise Agency Tel: 04862 28434
Ltd.
19 High Street,
Woking, Director: Matt Huber
Surrey. GU21 1BW
(also at DORKING, GUILDFORD, REDHILL)
WORTHING
M E West Sussex Area Enterprise Centre Tel: 0903 3 1499
'Ltd.
69a Chapel Road,
Worthing, Director: Len Crowhurst
West Sussex.
(also at CHICHESTER)
WINCHESTER
Barton Farm,
Andover Road, Senior Organiser: Jamie Fraser
Winchester. S022 6AX
(for HAMPSHIRE)
SOUTH WEST
(Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset,
Wiltshie)
BARNSTAPLE
E North Devon Enterprise Agency Ltd., Tel: 0271 861215
Yelland Centre,
West Yelland, Managing Director: Tony Jennings
Barnstaple. EX3 1 3EZ
BATH
E Bath Enterprise Ltd., Tel: 0225 338383
Green Park Station,
Green Park Road, Executive Director: Robert A. Kelly
Bath. BA1 1JB
BRADFORD ON AVON
E West Wiltshire Enterprise, Tel: 02216 7843
PO Box 15,
Abbey Mills, Director: A. B. Zehetmayr
Bradford on Avon,
Wiltshire. BA15 1YZ
BRIDG WATER
E Small Industries Group, Tel: 0278 424456
68-70 Friarn Street,
Bridgwater, Development Officer: Fred Wedlake
Somerset. TA6 3LJ
(also at TAUNTON)
BRISTOL
E Bristol & Avon Enterprise Agency Tel: 0272 272222
(BRAVE)
Canons Road,
Bristol. Director: Mike Mears
BS15UH
(also at WESTON-SUPER-MARE)
E New WorkTrust Co. Ltd., Tel: 0272 603871

Avondale Workshops,
Woodland Way, Director: Michael Winwood
Kingswood,
Bristol. BS15 1QH
(also at BATH, WARMLEY, YATE)
SOUTH WEST (continued)
E Coach House Small Business Centre, Tel: 0272 428022

2 Upper York Street,
St. Paul's, Director: Barry Davies
Bristol. BS2 RH
E Hartcliffe & Withywood Ventures Tel: 0272 784865

Ltd.,
HWV Block Hartcliffe School,
Bishport Avenue, Co-ordinating Director:
Hartcliffe, Brian McInally
Bristol. BS 13 ORL
E Black Business Association (BEA), Tel: 0272 550916

9 Lower Ashley Road,
St. Agnes, Manager: Leslie McDonald
Bristol. BS2 9QA
D DTI South West, Tel: 0272 308400

The Pithay, 0272 272666
Bristol.
BSl 2PB
(for AVON, CORNWALL, DEVON, DORSET,
GLOUCESTERSHIRE, SOMERSET,WILTSHIRE)

6th Floor, or 0272 294546
The Pithay,
Bristol. BSI 2NB Manager: Rodger Fowler
(for AVON, CORNWALL, DEVON, DORSET,
GLOUCESTERSHIRE, SOMERSET,WILTSHIRE)

209 Redland Road,
Bristol. Contact: Elizabeth Coward
BS6 6YU
(for AVON)
CAMBORNE
M E West Cornwall EnterpriseTrust Ltd., Tel: 0209 714914
Lloyds Bank Chambers,
Market Square, Director: Alex Bryce
Camborne,
Cornwall. TR14 8J T
(also at FALMOUTH, PENZANCE)
I Cornwall Innovation Centre, Tel: 0209 717111

Tehidy Hospital
Carnborne, Contact: Hugh Stapleton
Cornwall. TR14 8DS
CHELTENHAM
£ Capital Ventures Ltd., Tel: 0242 584380
37 London Road,
Cheltenham. Contact: S. Smith
Gloucestershire. GL52 6HA
CHIPPENHAM
M E North Wiltshire Enterprise Agency, Tel: 0249 659275
Pearl House,
3-4 New Road, Manager: Helen Norton
Chippenham,
Wiltshire. SN15 1EJ
DORCHESTER
Wing D Government Buildings,
Prince of Wales Road, Senior Organiser:
Dorchester. D T l 1QJ James Hamriding
(for DORSET)
EXETER
E Business Enterprise Exeter, Tel: 0392 56060
39 Marsh Green Road,
Marsh Barton, Director: E. G. Sheridan
Exeter. EX2 8PN

27 Victoria Park Road,
Exeter. Senior Organiser: David Rees
EX2 4NT
(for DEVON)
FROME
E Frome And Mendip Enterprise Agency, Tel: 0373 73101
South Parade,
Frome, Managing Director: Geoff Stringer
Somerset. BA1 l 1EJ
(also at SHEPTON MALLET)
GLASTONBURY
E PAD Enterprise Agency Tel: 0458 34220
(Project Avalon Development of FACE),
Workface, Director PAD: R. Ripper
Market Place, Glastonbury,
Somerset. BA6 9HL
GLOUCESTER
E Gloucestershire Enterprise Agency, Tel: 0452 501411
90 Westgate Street,
Gloucester. Director: Jack Tester
GL12NZ
(also at CHELTENHAM, CIRENCESTER, COLEFORD)
HONZTON
E East Devon Small Industries Group, Tel: 0404 41806
115 Border Road,
Heath Park, Development Officer: Albert Johnson
Honiton,
Devon. EX14 8BT
LAUNCESTON
E Enterprise TAMAR, Tel: 0566 5632
National School,
St. Thomas Road, Director: David M. Stanbury
Launceston,
Cornwall. PL15 8BU
NEWTON ABBOT
E Teignbridge Enterprise Agency, Tel: 0626 67534
The Tindle Centre,
St. Marychurch Road, Director: Leslie J A Saye
Newton Abbot,
Devon. TQ12 4UQ
PAULTON
E Wansdyke Enterprise Agency, Tel: 0761 415400
Business Advice Centre,
High Street, Director: Reginald T Clark
Paulton,
Bristol. BSI8 5NW
PLYMOUTH
E Devon & Cornwall Business & Tel: 0752 569211
Innovation Centre,
Somerset Place,
Stoke, Director: Fred Parker
Plymouth. PL3 4BB
(also at LISKEARD, TAVISTOCK)
POOLE
ME Dorset Enterprise Agency Ltd., Tel: 0202 748333
1Britannia Road,
Lower Parkstone, Director: Paul Cook
Poole,
Dorset. BH14 8AZ
(also at ISLE OF PURBECK, WEYMOUTH)
ST. AUSTELL
E Restormel Local Enterprise Trust Ltd., Tel: 0726 813079
Lower Penarwyn,
St. Blazey, Honorary Director: A. G. Tourell
Par,
Cornwall. PL24 2DS
SALISBURY
E South Wiltshire Enterprise Agency, Tel: 0722 41 1052
48a New Street,
Salisbury, Director: Dick Turpin
Wiltshire. SPl 2PH

141 Castle Street,
Salisbury. Contact: Peter Curbishley
SP13TP
(for WILTSHIRE)
S WZNDON
E Swindon Enterprise Trust, Tel: 0793 487793
54 Victoria Road,
Swindon, General Manager: R. H. D. Hardy
Wiltshire. SN1 3AY
TAUNTON
1The Crescent,
Taunton. Senior Organiser: Mike Harding
TA1 4EA
(for SOMERSET)
I Somerset Innovation Centre, Tel: 0823 276905

c10 Rural Development Commission,
3 Chartfield House, Contact: Mr. David Patten
Castle Street,
Taunton. TA1 4EA.
TZVERTON
E Mid-Devon Enterprise Agency, Tel: 0884 255629
The Factory,
Leat Street, Director: Mike Robins
Tiverton,
Devon. EX16 5LL
(also at CREDITON)
TOTNES
E South Hams Agency Tel: 0803 864200
for Rural Enterprise (SHARE),
4a Leechwell Street, Director: Alan Littlewood
Totnes,
Devon. TQ9 5SX
(also at ERMINGTON, KINGSBRIDGE)
TRURO
2nd Floor,
Highshore House, Senior Organiser: Bob Hatt
New Bridge Street,
Truro. TR12AA
(for CORNWALL)
YEOVZL
ME The Enterprise Agency Tel: 0935 74813
(South Somerset and West Dorset),
5 St. Johns House, Manager: Michael Warne
Church Path, Yeovil,
Somerset. BA20 1HE
NORTHERN IRELAND
ARMAGH
E Armagh Business Centre, Tel: 0861 525050
2 Loughgall Road,
Armagh. Director: S. Hartley
BT617NH
BANGOR
E North Down Development Tel: 0247 271525
Organisation,
Enterprise House,
Balloo Industrial Estate, Director: Mr. D. Dunstall
Bangor,
County Down. BT19 2QT
BELFAST
E Action Resource Centre, Tel: 0232 234504
3 Botanic Avenue,
Belfast. Manager: Robin McConkey
BT7 1JG
E Brookfield Business Centre, Tel: 0232 745241

Brookfield Mill,
333 Crumlin Road, Director: Fr. Myles Kavanagh
Belfast. BT14 7EA
E Glenand Youth & Community Tel: 0232 301483

Workshop Ltd.,
Blackstaff Road,
Kennedy Way Industrial Estate, Director: P. Crossey
Belfast. BTl l 9DT
NORTHERN IRELAND (continued)
S Local Enterprise Development Tel: 'Freefone Enterprise'

Unit (LEDU)
17/19 Linenhall Street,
Belfast.
BT2 8AB
(also at LONDONDERRY, NEWRY, OMAGH)
& Local Enterprise Development Tel: 0232 491031

Unit (LEDU),
LEDU House,
Upper Galwally, Newtownbreda
Belfast. BT8 4TB
& Northern Ireland Venture Capital Ltd., Tel: 0232 23078 1

19 Donegal1 Pass,
Belfast. Contact: J. N. Anderson
BT7 1DQ
& Ulster Venture Capital Ltd., Tel: 0232 228490

Sinclair House,
89 Royal Avenue, Contact: Garth Lomas
Belfast. BT1 IBP
CARRZCKFERGUS
E Carrickfergus Enterprise Ltd., Tel: 09603 69528
75 Belfast Road,
Carrickfergus, General Manager: D. R. Waite
County Antrim. BT38 8PH
COLERAINE
E Coleraine Enterprise Agency, Tel: 0265 55464
3 Gateside Road,
Coleraine, Manager: Ray Young
County Londonderry. BT52 2PB
DO WNPATRZCK
E Jobspace (NI) Ltd., Tel: 0396 6416
45 Saul Road,
Downpatrick, General Manager: Hugh R. McKirgan
County Down. BT30 6PA
DRAPERSTOWN
E Workspace Draperstown Ltd., Tel: 0648 28 113
7 Tobermore Road,
Draperstown, Manager: Patsy McShane
Magherafelt. BT45 7AG
DUNMURRY
E Glenwood Enterprises Ltd., Tel: 0232 620150
Springbank Industrial Estate,
Pembroke Loop Road, Director: Aidan Fitzpatrick
Dunmurry. BT17 OQL
ENNZSKILLEN
E Fermanagh Enterprise Ltd., Tel: 0365 27348
Project House,
Regal Pass, Manager: Martin Maguire
Enniskillen, County Fermanagh.
LARNE
E Larne Enterprise Development Tel: 0574 70742
Company,
Ledcom Industrial Estate,
Bank Road, Manager: Ken Frayne
Larne,
County Antrim. BT40 3AW
LONDONDERRY
E Ebrington Business Centre Ltd., Tel: 0504 43885
Ebrington Gardens,
Waterside, Director: R. Gillespie
Londonderry. BT47 1EH
E North West Ulster Enterprise Agency, Tel: 0504 2658 17

1- 3 Clarendon Street,
Londonderry. Director: Dr. Vera I. Furness
BT48 7EP
E Foyle Factory Space Ltd., Tel: 0504 364015

Enterprise House,
Little James Street, Manager: Denis Feeney
Londonderry. BT48 7BG
I Noribic Ltd., Tel: 0504 264242

North West College of Technology,
14 Asylum Road Campus, Contact: C. Cavanagh
Londonderry. BT48 7DX
NEWRY
E Newry & Mourne Enterprise Agency, Tel: 0693 67011
Enterprise House,
5 Downshire Place, Director: Frank Dolaghan
Newry. BT34 1DZ
OMAGH
E Omagh Enterprise Company Ltd., Tel: 0662 49494
Gortrush Industrial Estate,
Derry Road, Enterprise Manager: Liam McDonald
Omagh,
County Tyrone. BT79 7XH
PORTADOWN
M E Craigavon Industrial Tel: 0762 333393
Development Organisation,
Craigavon Enterprise Centre, Manager: Jim Burke
Carn Industrial Estate,
Portadown. BT63 5RH
STRABANE
E Strabane Industrial Properties Ltd., Tel: 0504 8845l 8
Ballycolman Industrial Estate,
Strabane, Manager: Christina Mullen
County Tyrone. BT82 9PH
SCOTLAND
ABERDEEN
M E Aberdeen Enterprise Trust, Tel: 0224 582599
First Floor,
Seaforth Centre, Director: Anne Minto
30 Waterloo Quay,
Aberdeen. AB2 1BS
SCOTLAND (continued)
& Aberdeen Fund Managers Ltd., Tel: 0224 631999

10 Queens Terrace,
Aberdeen. Contact: Andrew A. Laing
AB9 1QJ
&L Scottish Development Agency, Tel: 0224 641791

Aberdeen Office,
10 Queen's Road,
Aberdeen. AB 1 6YT
ALLOA
E Alloa & Clackmannan Enterprise Trust Tel: 0259 2 17171
(ACE)
70 Drysdale Street,
Alloa, Director: Tony Deeley
Clackmannanshire. FKlO 1JA
ARBROATH
E Arbroath Venture Trust, Tel: 0241 70563
115 High Street,
Arbroath. Director:
DD11 1DP
AYR
E Ayr Locality Enterprise Tel: 0292 264181
Resource Trust Ltd. (ALERT),
88 Green Street, Chief Executive: D. Malcolm Troup
Ayr. KA8 8BG
(also at GIRVAN)
BATHGATE
E Bathgate Area Support Tel: 0506 634024
for Enterprise Ltd. (BASE),
19North Bridge Street, Director: Michael J . Fass
Bathgate,
West Lothian. EH48 4PJ
COATBRIDGE
E Monklands Business Enterprise Trust, Tel: 0236 2328 1
Unit 10,
Coatbridge Business Centre, Director: Terry Currie
Main Street, Coatbridge.
CROSSGATES
E South Fife Enterprise Trust Ltd., Tel: 0383 515053
6 Main Street,
Crossgates, Director: David Blues
Fife. KY4 8AJ
(also at DUNFERMLINE, KIRKALDY)
CUMBERNAULD
E Cumbernauld & Kilsyth Enterprise Tel: 0236 739394
Trust Limited
5 South Muirhead Road,
Cumbernauld. Director: Ian T. Long
G67 1AJ
CUMNOCK
E Cumnock & Doon Enterprise Trust, Tel: 0290 2 1159
Cumnock and Doon Enterprise Centre,
Block 3, Director: Alex Neil
Caponacre Industrial Estate, Cumnock,
Ayrshire. KA18 1LD
CUPAR
E North East Fife Enterprise Trust, Tel: 0334 56360
24 St. Catherine Street,
Cupar, Director: Peter Mason
Fife. RY 15 4HH
DALKEITH
E Midlothian Campaign, Tel: 031 660 5849
115 High Street,
Dalkeith, Director: Frank Binnie
Midlothian. EH22 1AX
DUMBARTON
E Dumbarton District Enterprise Trust, Tel: 0389 50005
Block 2/2,
Vale of Leven Industrial Estate, Director: Ralph S. Risk
Dumbarton,
Dumbartonshire. G82 3PD
DUMFRIES
E The Enterprise Trust for Nithsdale; Tel: 0387 56229
AnnandaleIEskdale and the Stewartry,
Heathall, Director: Cyril H. Rankin
Dumfries. DGl 1TZ
(also at ANNAN, CASTLE DOUGLAS, SANQUHAR)

Business Development Centre,
16 Buccleuch Street, Contact: Brian McEnroy
Dumfries. DG1 5AH
DUNDEE
E Dundee Enterprise Trust Ltd., Tel: 0382 26002
West Hendersons Wynd,
Dundee. Director: David Morrison
DD1 5BY

Tayside Business Development Centre,
Nethergate Centre, Contact: Gordon Longlands
Yeaman Shore,
Dundee. DD1 4BU
£ Tayside Enterprise Board Ltd Tel: 0382 621 030

Fulton Road
Westergourdie Industrial Estate Contact: Ian Long
Dundee DD2 4SW
EAST KZLBRZDE
E East Kilbride Business Centre, Tel: 03552 38456
PO Box 1,
10th Floor, Director: Burt Miller
Plaza Tower,
East Kilbride. G74 1LW
EDINBURGH
E Edingburgh Venture Enterprise Trust Tel: 031 229 8928
(EVENT)
2 Canning Street Lane,
Edinburgh. Director: Alf Laing
EH3 8ER
E Leith Enterprise Trust, Tel:031 553 5566

25 Maritime Street,
Leith, Director: James A. Prettyman
Edinburgh. EH6 5PW
E Edinburgh Old Town Trust, Tel: 031 225 8818

Advocate's Close,
High Street, Director: Brig. James Wilson
Edinburgh.

Roseberry House, or 03 1 337 9229
Haymarket Terrace,
Edinburgh. EH12 5EZ Manager: Willie Allen
(for GRAMPIAN, CENTRAL, TAYSIDE, LOTHIAN, FIFE &BORDER)
&L Scottish Development Agency, Tel: 031 337 9595

Small Business Division,
Roseberry House, Contact: FionaBallantyne
Haymarket Terrace,
Edinburgh. EH12 5EZ
& Lothian Enterprise Ltd., Tel: 031 220 2100

2 1 Ainslie Place
Edinburgh EH3 6AJ Contact: Liz Allan
I Research Park, Tel: 031 449 5111

Heriot-Watt University,
Riccarton, Contact: I. G. Dalton
Edinburgh. EH14 4AS
I Scottish Development Agency, Tel: 031 337 9595

Technology Projects,
Roseberry House, Contact: Campbell Thomson
Haymarket Terrace,
Edinburgh. EH12 5EZ
ELGIN
E Moray Enterprise Trust, Tel: 0343 49644
6 North Guildry Street,
Elgin. Director: Dick Ruane
IV30 1JR
FALKZRK
E Falkirk Enterprise Action Tel: 0324 716173
Trust (FEAT),
Suite A,
Haypark, Director: Dr. John Hogan
Marchmont Avenue,
Polrnont. FKZ ONZ
FRASERBURGH
E Fraserburgh Ltd., Tel: 0346 27764
Old Station Yard,
Dalrymple Street, Managing Director: Ian Moir
Fraserburgh. AB4 5BH
GALASHZELS
Small Business Division,
Wheatlands Road, Contact: Dr. Elspeth Atkinson
Galashiels. T D l 2HQ
GLASGOW
E Glasgow Opportunities, Tel: 041 221 0955
7 West George Street,
Glasgow. Director: Tony Eadsforth
G2 1EQ
E The Greater Easterhouse fartnership, Tel: 041 771 5591

40 Township Centre,
Easterhouse, Executive Director: William M. Craw
Glasgow. G34 9BP
E Barras Enterprise Trust, Tel: 041 552 7258

244 Gallowgate,
Glasgow. Director: Martin Caldwell
G4 0TS
D Scottish Office (DTI Initiatives), Tel: 041 248 4774

Industry Department for Scotland,
Alhambra House,
45 Waterloo Street,
Glasgow. G2 6AT

21 Bothwell Street, or 041 248 6014
Glasgow.
G2 6NR Manager: Willie Allen
(for SCOTLAND APART FROM AREAS COVERED BY SFC IN
EDINBURGH)
& Scottish Development Agency, Tel: 041 248 7806

21 Bothwell Street, Contact: Alan Grant
Glasgow. G2 6NR
I Industrial Development Unit, Tel: 041 227 3861

Strathclyde Regional Council,
Chief Executive's Department Contact: John J. Downie
20 India Street,
Glasgow. G2 4PF
I Strathclyde Innovation Tel: 041 554 5995

Unit 3A, Building 1,
Templeton Business Centre, Contact: D. H. Martyn
62 Templeton Street,
Glasgow. G40 1DA
GLENROTHES
E Glenrothes Enterprise Trust Ltd., Tel: 0592 757903
North House,
North Street, Director: Erik J. Hendry
Glenrothes,
Fife. KY7 5NA
GREENOCK
E Inverclyde Enterprise Trust Ltd., Tel: 0475 892191
64/66 West Blackhall Street,
Greenock. Director: Ewen Macauley
FA15 1XG
HAMILTON
E1 LIFE Business Trade & Export Centre, Tel: 0698 891515
116 Cadzow Street,
Hamilton, Chief Executive: Peter F. Agnew
Lanarkshire. ML3 6HH
E Hamilton Enterprise Development Tel: 0698 429425

Company,
114 Cadzow Street,
Hamilton, Director: Ross Clark
Lanarkshire. ML3 6HH
INVERNESS
&E Highland Opportunity Ltd., Tel: 0463 234121 x402
Development Department,
Highland Regional Council, Director: Hugh Black
Glenurquhart Road,
Inverness. IV3 5NX
(also at DORNOCH, DINGWALL, FORT WILLIAM,
KINGUSSIE, NAIRN, PORTREE, WICK)
£ Highlands & Islands Development Tel: 0463 234171

Board,
Bridge House,
20 Bridge Street, Director of Business
Inverness. Services and Finance: J . K. Farquharson
IVl lQR
KILBIRNIE
E Garnock Valley Development Executive Tel: 0505 685455
Ltd.
44 Main Street,
Kilbirnie, Managing Director: Bill Dunn
Ayrshire. KA25 7BY
KZMARNOCK
E Kilmarnock Venture Enterprise Trust, Tel: 0563 44602
30 The Foregate,
Kilmarnock. Director: Alistair Murning
KA11JH
KZRKALDY
Fife Business Development Centre,
441 High Street, Contact: Norman Mitchell
Kirkaldy. KY 1 2SX
KZRKZNTZLLOCH
E Stathkelvin Enterprise Trust, Tel: 041 777 7171
10 Rochdale Place,
Kirkintilloch. Director: Donald J. F. MacInnes
G66 1HZ
LANARK
E Clydesdale Enterprise Resource Trust, Tel: 0555 61331
c10 Clydesdale District Council,
South Vennel, Executive Director: Iain Carmichael
Lanark. M L l l 7J T
LEVEN
E Levenmouth Enterprise Trust, Tel: 0333 27905
Unit 17b120a Hawkslaw Trading Estate,
Riverside Road, Director: Arthur J. Murphy
Leven,
Fife. KY 8 4LT
MOTHERWELL
E Motherwell Enterprise Trust, Tel: 0698 69333
28 Brandon Place,
Motherwell. Executive Director: John Murphy
ML11UJ
NEWTON STEWART
E Wigtown Rural Development Company Tel: 067 1 3434
Ltd.,
Royal Bank Building,
44 Victoria Street, Managing Director: W. Phillips
Newton Stewart,
Wigtownshire. DG8 6BT
PAISLEY
E Paisley and Renfrew Enterprise Trust, Tel: 041 889 0010
26 High Street,
Paisley. Director: David W. Logan
PA12BZ
PITLOCHRY
E Highland Perthshire Development Tel: 0796 2697
Co. Ltd.,
2 1 Bonnethill Road,
Pitlochry, Chief Executive: Dr R. G. Taylor
Perthshire. PH16 5BS
SALTCOATS
E Ardrossan, Saltcoats & Stevenston Tel: 0294 602515
Enterprise Trust (ASSET),
21 Green Street, Chief Executive: Kenneth D Fraser
Saltcoats,
Ayrshire. KA21 5HQ
(also at STEVENSTON)
STIRLING
E Stirling Enterprise Park, Tel: 0786 63416
John Player Building,
Stirling. Director: Derek Gavin
FK7 7RP

Stirling University, Contact: Peter Swinson
Alpha Centre,
Innovation Park, Stirling.
FK9 4NF
WALES
AMMAN VALLEY
E Dinefwr Enterprise Co. Business Centre, Tei: 0269 3707
Margaret Street,
Ammanford, Chief Executive: Paul Hannon
Dyfed.
BANGOR
£L Welsh Development Agency, Tel: 0248 370082
'Llys Garth',
Garth Road, Contact: David Lewis
Bangor,
Gwynedd. LL57 2RT
BARGOED
E Economic Development Partnership Tel: 0443 821222
of the Rhymney Valley,
Enterprise Centre, Director: A. Shapland
Bowen Industrial Estate, Aberbargoed,
Bargoed, Mid Glamorgan. CF8 9EP
BRZDGEND
E Ogwr Partnership Trust Ltd., Tel: 0656 724414
Enterprise Centre,
Bryn Road, Executive Director: Gareth Bray
Tondu, Bridgend,
Mid Glamorgan. CF32 9BS

Bridgend Industrial Estate,
Bridgend, Contact: Meirion Thomas
Mid Glamorgan. CF313SD
CARDIFF
E Cardiff & Vale Enterprise, Tel: 0222 494411
Enterprise House,
127Bute Street, Managing Director: Peter Fortune
Cardiff. CFl 5LE
(also at BARRY)
WALES (continued)
D Welsh Office (DTI Initiatives), Tel: 0222 823185

Welsh Industry Department,
New Crown Building,
Cathays Park,
Cardiff. CF13NQ
S small ~ i r mcentre,
s Tel: 'Freefone Enterprise'
16 St. David's House, or 0222 396116
Wood Street,
Cardiff. CF1 1ER Manager: Doug Taylor
& Welsh Development Agency, Tel: 0222 222666

Investment Division,
Pearl House, Contact: S.C. White
Greyfriars Road,
Cardiff. CFl 3XX
& First Welsh General Investment ~ e l0222

: 396131
Trust Ltd
114- 116 St. Mary Street,
Cardiff, Contact: Martin Rees
South Glamorgan, CF1 1XJ
CARMIARTHEN
&L Welsh Development Agency, Tel: 0267 235642
Cillefwr Industrial Estate,
Johnstown, Contact: Wyn Price
Carmarthen,
Dyfed. SA31 3RB
DEESZDE
E Deeside Enterprise Trust Ltd., Tel: 0244 815262
Park House,
Deeside Industrial Park, Director: Peter Summers
Deeside,
Clwyd. CH5 2NZ
WALES (continued)
HAVERFORDWEST
E Pembrokeshire Business Initiative (PBI), Tel: 0437 67655
Lombard Chambers,
14High Street, Director: Richard J. Packman
Haverfordwest,
Dyfed. SA61 2LD
HIR WAUN
Hirwaun Industrial Estate,
Nr. Aberdare, Contact: Allen Williams
Mid Glamorgan. CF44 9UU
HOLYWELL
E Delyn Business Partnership Ltd., Tel: 0352 711747
Greenfield Business Park,
Bagillt Road, Chief Executive: Neville R. Clive
Holywell,
Clwyd. CH8 7HN
LLANDRINDOD WELLS
E Powys Self Help, Tel: 0597 4576
Old Town Hall,
Temple Street, Director: Barrie W. Cooper
Llandrindod Wells,
Powys. L D I 5DL
LLANELLI
E Llanelli Enterprise Company Ltd., Tel: 0554 772122
100 Trostre Road,
Llanelli, Director: David C r a n s t o Williams
~
Dyfed,
South Wales. SA15 2EA
Llanelli Borough Council, Tel: 0554 758181

Planning & Economic Development Department,
Ty Elwyn, Contact: Ms. M. J. Thomas
Llanelli,
Dyfed. SA15 3AP
WALES (continued)
MERTHYR TYDFZL
E Merthyr-Aberdare Tel: 0443 692233
Development Enterprise Ltd.,
The Enterprise Centre, Director: Jeff Pride
Merthyr Industrial Park, Pentebach,
Merthyr Tydfil, Mid Glamorgan. CF48 4DR
(also at ABERDARE)
NEATH
E Neath Development Tel: 0639 54111
Partnership Enterprise Ltd.,
7 Water Street, Business Development
Neath. SA1l 3EP Manager: A. R. Morgan
NEWPORT
E Newport Enterprise Agency Ltd., Tel: 0633 54041
Enterprise Way,
Off Bolt Street, General Manager: Alan Prosper
Newport,
Gwent. NP9 2AQ
&L Welsh Development Agency, Tel: 0633 244666

1 & 2 Gold Tops,
Newport, Contact: M. Shukman
Gwent. NP9 4YW
NEWT0 WN
£L Mid Wales Development (for WDA), Tel: 0686 626965
Ladywell House,
Newtown, Director: Grenville Jackson
Powys. SY16 1JB
NEWCASTLE EMLYN
E Antur Teifi, Tel: 0239 710238
Teifi Valley Business Centre,
Aberarad, Director: Wynfford James
Newcastle Emlyn,
Dyfed. SA38 9DB
WALES (continued)
RUTHIN
E Clwydfro Enterprise Agency, Tel: 0978 88414
Llysfasi,
Ruthin, Managing Executive: Mr Arwyn L. Jones
Clwyd. LL15 2LB
SWANSEA
ME West Glamorgan Enterprise Trust Tel: 0792 475345
Ltd.,
12A St. ~ a r ~Square,
' s
Swansea, Director: G. W. Atkins
West Glamorgan. SA1 3LP
(also at PONTARDULAIS)

Swansea Industrial Estate,
Fforestfach, Contact: Meirion Thomas
Swansea,
West Glamorgan. SA5 4DL
TREFOREST
£L Welsh Development Agency, Tel: 0443 841l 3 1
Treforest Industrial Estate,
Pontypridd, Contact: Allen Williams
Mid Glamorgan. CF37 5UT
I Welsh Development Agency, Tel: 0443 841777

Treforest Industrial Estate, Contact: Ken Page
Pontypridd,
Mid Glamorgan. CF37 5UT
WREXHAM
Wrexham Industrial Estate,
Wrexham, Contact: Graham Watson
Clwyd. LL13 9UF
D) Risk Capital Sources t
3 Their Main Investment
Criteria
This section contains the main investment criteria for those sources of risk
capital (private and public sector funds) whose managers supplied details in
response to an extensive questionnaire survey undertaken during
mid- 1987 (and updated mid- 1988).
To warrant an entry, a source needs to have expressed an interest in:-
the supply of equity capital, and,
investments of below £50,000.
The information is regionalised (arranged in a similar fashion to the
preceding directory of contact details), and the criteria for each source have
been placed in the region in which its head office is based e.g. if the office is
in Manchester, the information can be found in the North West region, and
likewise, for an office in Edinburgh, the details will be shown under
Scotland. The entries for each corresponding region are listed below:-
ENGLAND: Pages
East Anglia.. ............................................ .308
East Midlands .......................................... .309
North.. ............................................. .310-311
North West.. ...................................... . 3 12-313
Yorkshire & Humberside.. .....................314-315
West Midlands.. .................................. .316-318
South East.. ....................................... .318-325
South West.. ............................................ .326
N O R T H E R N I R E L A N D .............327-328
S C 0 T L A N D .................................... .329-331
W A L E S .................................................... 332
INTERPRETATION OF HEADINGS:
HEAD OFFICE
The full address and contact details for each source can be found in the
preceding regional directory - see the corresponding cityltown entry for
that particular region. N.B. As well as the head offices, the local offices for
the Scottish and Welsh Development Agencies are also included in the
contact directory.
INVESTMENT RANGE
This refers to finance for expansion purposes; the possibility for support
under other circumstances - such as a start-up or a 'rescue' - is indicated
further down the table.
EQUITY USUALLY SOUGHT
Taken to mean the percentage of a company's equity capital (after
investment). Voting rights may not correspond in direct proportion to the
investor's shareholding.
EXTENT OF PARTICIPATION
Indicating the degree of involvement that the fund would usually seek. In
general terms, 'hands-off investors use financial skills to pick what is hoped
will be a winner, leaving the business to manage its own affairs as is felt fit.
'Hands-on' investors aim to add value to the investee company by
participating in its management, usually taking a non-executive post on the
board and being on hand for all kinds of advice.
SEAT ON BOARD
To cover the possibility of a significant change of the business's
circumstances, some investors may wish to reserve the right to a seat on the
board of directors.
EXPECTED PERIOD OF REALISATION

The anticipated timescale for the investor's shareholding from date of
purchase to date of sale.
FEES CHARGED
Some funds expect the investee company to pay various fees e.g. for an
in-depth appraisal and/or legal fees - these could easily amount to several
thousand pounds and may be payable even if the fund decides not to invest.
If a director is appointed on behalf of the fund, the company will usually be
expected to pay for his services- which are normally supplied on a part-time
basis.
LOAN FINANCE AVAILABLE

Many sources are prepared to consider a financial 'package'; namely, a
combination of share and loan-based finance. Some may be prepared to
offer 'loan-only' financing (indicated by a 'Yes').
NO. OF INVESTMENTS PER YEAR

Some figures quoted, e.g. as in the case of the Welsh Development Agency,
include loan-only investments. In any case, these figures are likely to
represent the total number or the amount of investments placed -
irrespective of the nature of the finance supplied.
'GEOGRAPHICAL' PREFERENCES:
Such sources often have regional bias towards prospective investee
businesses (sometimes, the closer the applicant's business is to the fund's
head office, the better), but some would be interested to hear from
businesses based in other parts of the country. Therefore, it may be
worthwhile to investigate - for additional possibilities - the sources based
in other (especially adjacent) regions.
N.B. Some sources - such as Investors in Industry (3i) - will entertain
applications from anywhere in the U.K. (the head office is in London, and it
has local offices based in Aberdeen, Birmingham, Brighton, Bristol,
Cambridge, Cardiff, Edinburgh, Glasgow, Guildford, Hull, Leeds,
Leicester, Liverpool, Manchester, Milton Keynes, Newcastle upon Tyne,
Nottingham, Reading, Sheffield, Southampton and Watford).
Inner cities fund:

In support of the Government's inner cities initiatives, Investors in
Industry (39, announced in October 1987, that it was creating a &10mfund
to support new business projects.
According to 3i's publicity, "Money from the fund will be used to take
minority shareholdings in new business ventures, thereby providing the
owners with stable, long-term finance on which to build their companies."
The fund is concentrating: "....particularly on equity investments in the
£20,000 to £50,000 area."
The inner city areas concerned are:-
Birmingham Handsworth
Coventry
Doncaster
Hartlepool
Leeds Chapeltown, Harehills
Leicester Highfields
London N. Kensington, N. Peckham,
Spitalfields
Manchester Hulme, Moss Side
Middlesborough North Central
Nottingham Hyson Green
Preston
Rochdale
Wolverhampton
Applications for finance are being handled by the local offices of 3i. For
further information, contact:-
Investors in Industry plc,
91 Waterloo Road,
London. SE1 8XP Tel: 01 928 7822
CHANGING CRITERIA:
In addition to their 'geographical' preferences, each source's other
investment preferences (and exclusions) are also shown, but, since such
criteria may change from time to time, further enquiries are recommended
so that the significance of any subsequent changes can be noted.
RECENTLY-ESTABLISHED SOURCES:
Given the constantly changing supply of risk capital to smaller businesses
(particularly as a result of the increasing involvement of the public sector), it
is quite likely that several new sources of equity capital will have been, or
will be in the process of being, launched since this edition of the guidebook
was first published.
However, the directorlmanager of your local enterprise agency is likely to be
aware of any recent developments concerning the availablity of local
finance, and, correspondingly, it is recommended that he or she be
approached to determine whether any relevant new sources of equity capital
have become available since publication. See the preceding directory for
local contact details.
MAKING CONTACT:
A fund of any type should be able to supply standard written information
outlining their main investment criteria, and a telephone call to the
appropriate office will usually elicit the appropriate details.
This call could also represent a suitable opportunity to ascertain:
the way in which the fund managers prefer to receive details of an
investment proposal (whether it should be a brief synopsis, or a full
business plan, and to whom it should be addressed), and in
addition,
the length of time that it would normally take for them to reach a
decision on whether or not they wished to investigate the proposal
any further.
ENGLAND - East Anglia
FUND Prelude Technology Cambridge Research
[or Source] Fund & Innovation Ltd.
Managers Prelude Technology Cambridge Capital
Investments Ltd. Management Ltd.
Head Office Cambridge Cambridge
Geographical Readily accessible U.K.

Preferences from Cambridge (preferably East
Anglia)
Investment £5,000 Up to
Range to £50,000
(for expansion) £600,000
Equity Variable Between
Usually Sought 25% - 75%
Investment Technology based Technology-transfer
Preferences in the applied projects only
physical sciences
Investment Retail
Exclusions Consumer -
Bio-technology
Start-up andlor Start-up Start-up

Rescue Capital only only
also?
Extent of Active
Participation non-executive Close
involvement
Seat on
Board? Yes Yes
Expected Period
of Realisation 5-10 Years 9 Months to 5yrs
Fees Variable Small
Charged
Loan Finance yes - but only with Yes - but only

Available also? equity capital with equity
capital
Approx. No. of 6 Not set
Investments per
Year
ENGLAND - East Midlands
FUND Thornton Nottinghamshire
[or Source] Venture Capital Fund County Council
Managers Maystock
Associates Ltd.
Head Office Ashbourne Nottingham
Geographical East
Preferences Midlands Nottinghamshire
Investment £10,000 £ 1,000
Range to to
(for expansion) £50,000 £500,000
Equity 15% - 40% 25% - 49%
Usually Sought
Investment Capable of Job savinglcreation
Preferences growth within
Nottinghamshire
Investment Shopkeeping -
Exclusions
Start-uplor
Rescue Capital Yes Yes
also?
Extent of - Non-executive
Participation director
Seat on
Board? Sometimes Sometimes
Expected Period
of Realisation 7 Years Long-term
Fees Professional
Charged Advisory None
Loan Finance Yes - but only

Available also? with equity Yes
capital
Approx. No. of
Investments per
Year
ENGLAND - North
FUND Northern Investors Rank Xerox
[or Source] Company Ltd. Pension Fund
Managers (as above) Rank Xerox Pensions Ltd
& ENTRUST
Head Office Newcastle upon Tyne Newcastle upon Tyne
Geographical North East England Northumberland,

Preferences Cumbria Durham, Cleveland,
Tyne & Wear
Investment £25,000 plus Up to
Range - no maximum £50,000
(for expansion)
Equity 15% - 40% 20% - 40%
Usually Sought
Investment
Preferences None None
Investment
Exclusions - None
Start-up andlor Start-up Start-up

Rescue Capital capital only capital only
also? p- P
Extent of Regular contact with Close support for

Participation management; advisory investee company
role where a ~ ~ r o ~ r i a t e
Seat on
Board? Usually Usually
Expected Period
of Realisation 5 Years 5-7 Years
Fees 3% or £5,000 4% of sum raised
Charged whichever is
greater
Loan Finance Yes - but only with yes - but only

Available also? equity capital with equity
canital
Approx. No. of
Investments per 5 New fund
Year
ENGLAND - North
FUND South Tyneside Northern Investors
[or Source] Investments Ltd. Company Ltd.
Managers Tyneside Economic Northern Investors
Development Co. Ltd. Company Ltd.
Head Office South Shields Newcastle Upon Tyne
Geographical South Tyneside North East England

Preferences Metropolitan Cumbria
Borough
Investment £10,000 £25,000 plus
Range to - No Maximum
Equity Minority 15% - 40%
Usually Sought shareholding
Investment
Preferences None None
Investment
Exclusions Retailing
Start-up andor Start-up

Rescue Capital Yes Capital
also? Onlv
Extent of Quarterly monitoring Regular contact with
Participation plus assistance management; advisory
where appropriate role where appropriate
Seat on
Board? No Usuallv
Expected Period
of Realisation 5 Years 5 Years
Fees Legal Fees 3% on £5000
Charged onlv whichever is greater
Loan Finance Yes Yes - but only with

Available also? Equity capital
Approx. No. of
Investments per 10 5
Year
ENGLAND - North West
FUND North West Worknorth Ltd.
[or Source] Regional Fund Ltd.
Greater Manchester
Managers Sapling Economic Development
(North West) Ltd Corporation (GMEDC)
Head Office Chorley Manchester
Geographical Cheshire, Cumbria Greater

Preferences Derbyshire (N), Manchester
Manchester,
Lancashire,
Merseyside
Investment £25,000 525,OO
Range top to
(for expansion) £200,000 £250,000
Equity Between Typically
Usually Sought 10% and 40% up to 25%
Investment None Manufacturing
Preferences Productive Service
Investment - Retail, Restaurant
Exclusions Property Development
ClericaVProf. Services
Start-upand/or Start-up
Rescue Capital only Yes
also?
Extent of No inferference with 'Hands-off
Participation day-to-day running, investor
some management
support
Seat on No, but reserve
Board? Sometimes right to appoint
director
Expected Period 7 Years
of Realisation 5-10 Years maximum
Fees None Contribution to
Charged appraisalllegalcosts
Loan Finance Yes - but only Yes

Available also? with equity capital
Approx. No. of
Investments per 5-8 Variable
Year
ENGLAND - North West
FUND Fourth St. Helens Merseyside Enterprise
[or Source] BES Syndicate Board Ltd.
St. Helens
Managers BES S ndicates (as above)
( d o St. &lens Tmst)
Head Office St. Helens Liverpool
Geographical St. Helens and Merseyside

Preferences surrounding
area
Investment £25,000 Up to
Range to £250,000
Equity 25% to 50% Up to
Usually Sought preferred 25%
Investment - Manufacturing,
Preferences Productive Services
Investment Business Expansion Retail,
Exclusions Scheme (BES) Financial Services
exclusions
Start-up andor
also?
Extent of 'Hands-on' plus
Participation support of -
St. Helens Trust
Seat on yes -normally Yes
Board? appoint part-
time chairman
Expected Period
of Realisation 5-6 Years 5 Years
Fees 2.5% of original -
Charged investment
Loan Finance No Yes - but only with

Available also? equity capital
Approx. No. of
Investments per 6 20
year
ENGLAND - Yorkshire & Humberside
FUND Barnsley Investments Ltd North Yorkshire
[or Source] Bradford Met Ent Ltd Investment Company Ltd
Calderdale Met Inv Ltd
Humberside Country Ent
Ltd
Sheffield City Inv. Ltd
N. Yorkshire CCIYork
Managers (As above) Trust
Yorkshire Enterprise Ltd
Head Office Yorkshire Enterprise Ltd Northallerton
Leeds
Geographical Respectively :- North

Preferences Barnsley, Bradford, Yorkshire
Calderdale, Humberside,
Sheffield
Investment £25,000 £25,000
Range to to
(for expansion) £250,000 £250,000
Equity Usually Usually below
Usually Sought below 25% 25%
Investment Manufacturing, Services Manufacturing, Services
Preferences to manufacturing, to manufacturing,
Tourism Tourism
Investment Retailing, Personal Retailing, Personal
Exclusions services, Services,
Agriculture Agriculture
Start-upandor
also?
Extent of Flexible according to Flexible according to
Participation individual needs indivdual needs
Seat on Usually Usually
Board?
Expected Period No set No set
of Realisation period period
Fees 1?h% on loans, 1Y2% on loans,
Charged 3% on equity. Legal 3% on equity. Legal
fees at cost fees at cost
Loan Finance Yes Yes

Available also?
Approx. No. of New funds: New funds:
Investments per year no record to date no record to date
ENGLAND - Yorkshire & Humberside
FUND West Yorkshire Yorkshire
[or Source] Small Firms Fund Enterprise Ltd
Managers West Yorkshire (as above)
Small Firms Fund Ltd
Head Office Bradford Leeds
Geographical West Yorkshire &

Preferences Yorkshire Humberside
Investment Up to £25,000
Range £15,000 to
(for expansion) £1,000,000 plus
Equity Less than Usually
Usually Sought 25% below 25%
Tourism Tourism
Investment Retailing, Retailing,
Exclusions Personal services, Personal Services,
Aariculture A~riculture
Start-up andor
also?
Extent of Flexible according
Partici~ation to indivdual needs
Seat on No Usually
Board?
Expected Period Usually 3-5 No set
of Realisation vears ~eriod
Fees 1%% on loans,
Charged 3% on equity.
Legal fees at cost

Available also?
Approx. No. of 60 15-20
Investments per year
--p--
ENGLAND -West Midlands

FUND Birmingham Technology Mercia Venture Capital
[or Source] Venture Capital Fund Scheme
Managers Birmingham Mercia
Technology Venture Venture Capital Ltd
Capital Ltd
Head Office Birmingham Birmingham
Geographical
Preferences Birmingham area Midlands
Investment £25,000 £25,000
Range to plus
(for exvansion) £250.000
Equity 26% to 49% 25% to 49%
Usually Sought
Investment High-growth Less than £50,000 preferred
Preferences Technology-based but will consider
companies exceptional
opportunities
Investment
Exclusions 'Low-technology'
Start-upandlor Yes Yes - but

Rescue Capital would prefer not
also?
Extent of
Particivation 'Hands-on'
Seat on Yes Yes
Board?
Expected Period
of Realisation 7 Years 5 Years
Fees Director's fees, but Negotiable
Charged none for evaluations
Loan Finance Yes - but only with Yes - but only with
Available also? equity capital equity capital
Approx. No. of 6 12
Investments per Year
ENGLAND -West Midlands
FUND Black Country Coventry
[or Source] Venture Capital Fund Venture Capital Fund
Black Country Coventry
Managers Venture Capital Fund Venture Capital Fund
Limited Limited
Head Office Birmingham Coventrv
Geographical Dudley, Sandwell,

Preferences Walsall, Coventry
Wolverhampton
Investment £25,000 £25,000
Range to to
(for expansion) £75,000 £50,000
Equity Typically Typically
Usually Sought 20% to 40% 20% to 40%
Certain Certain
tourism-related tourism-related
Investment Personal Services Personal Services
Exclusions
Start-up andtor Yes Yes

Rescue Capital
also?
Extent of Regular monitoring, Regular monitoring,
Participation reserve right to appoint reserve right to appoint
non-executive director non-executive director
Seat on Usually Usually
Board?
Expected Period Normally Normally
of Realisation 7- 10 vears 7-10 vears
Fees 3% of finance 3% of finance
Charged raised raised
Loan Finance Yes - but only Yes - but only

Available also? with eauitv ca~ital with eauitv ca~ital
Approx. No. of 5-10 5-10
ENGLAND - West Midlands - South East
FUND Warwickshire Smithdown
[or Source] Venture Capital Fund Investments Ltd
Warwickshire
Managers Venture Capital Fund -
Limited
Head Office Nuneaton Chorleywood
Geographical Warwickshire England

Preferences
Investment £25,000 £20,000
Range to to
(for expansion) £50,000 £75,000
Equity Typically Negotiable, but
Usuallv Sou& 20% to 40% never more than 50%
Investment Manufacturing, Services
Preferences to manufacturing, -
Certain tourism-related
Investment Personal Services 'High-technology'
Exclusions
Start-up andor Start-up

Rescue Capital Yes only
also?
Extent of Regular monitoring, reserve Business and financial
Participation right to appoint advice when needed
non-executive director
Seat on Usually Sometimes
Board?
Expected Period Normally Open-ended
of Realisation 7-10 years
Fees 3% of finance Vary - but no
Charged raised up-front fees
Loan Finance Yes - but only Yes - but only with

Available also? with equity capital equity capital
Approx. No. of 5-10
Investments Der year
ENGLAND - South East
FUND The Young Seed Capital Ltd
[or Source] Entrepreneurs
Fund Ltd
Managers David Wells (As above)
Head Office East Molesley Henley on Thames
Geographical South West and Area

Preferences South East of Surrounding
Endand M4 Motorwav
Investment £10,000 £10,000
Range to to
(for expansion) £100,000 £40,000
Equity Typically 10% - 30%
Usually Sought 26% - 33%
Investment Service, Skilled Technology
Preferences Manufacturing, Leisure innovation
& Tourism, Franchising
Investment Capital intensive
Exclusions 'high-technology' -
Start-up and/or
also?
Extent of
Participation Active Directorship
Seat on Yes Yes
Board?
Expected Period 5 Years 7 Years
of Realisation
Fees Negotiable, dependent None
Charged upon financelequity
Loan Finance Yes - but only with No

Appox. No. of
Investments per Year - 4
FUND Audley Hackney
[or Source] Fund Management Fund
Managers Audley Hackney
Securities Ltd Enterprise Board
Head Office London London
Geographical South East Borough of

Preferences England Hacknev
Investment £25,000 £5,000
Range to to
(for expansion) £250,000 £50,000
Equity BY 10% - 30%
Usually Sought negotiation
Investment Leisure, Furniture
Preferences Communications Food
Investment Heavy Engineering,
Exclusions Oil & Gas Clothing
Start-up andlor
also?
Extent of
Participation - -
Seat on Yes Sometimes
Board?
Expected Period
of Realisation 3 - 5 years 5 - 10 years
Fees Minimum 2.5% 1% of sum
Charged Maximum 5% invested
Loan Finance Yes - but only with Yes

Approx. No. of 5 -10 12
FUND Investors in JMI Seed
[or Source] Industry plc Capital Limited
Managers - JMI Advisory
Services Ltd
Geographical None Within 1%-2 hours

Preferences travelling time
Investment
Range Unlimited £1 to £150,000
(for expansion)
Equity Minority 20% - 80%
Usually Sought
Investment Information Technology,
Preferences None Bio-technology,
Health Care
Investment Businesses without
Exclusions None significant growth
~otential
Start-up and/or
also?
Extent of Dependent upon Very major, 'hands-on'
Participation circumstances 1 daylweek, help with
business plan
Seat on No Yes
Board?
Expected Period Depends upon
of Realisation transaction 5 - 7 Years
Fees Dependent upon None on investment,
Charged transaction but with later funding

Available also?
Approx. No. of Approximately 1000 6

FUND Bexley Venture Thompson Clive
[or Source] Capital Limited Ventures
Managers - Thompson Clive
& Partners Ltd
Geographical Operating mainly

Preferences within the London UK
Borough of Bexley
Investment Range £5,000 to £25,000 Up to £3m
(for expansion) no minimum
Equity Minority Minority
Usually Sought stake
Investment Any type of business; Systems, Instrumentation,
Preferences especially interested Electronics, Eng. Services,
in maufacturing Healthcare & Life Sciences
Investment
Exclusions - Property
Start-up andor Yes - but rescue

Rescue Capital Yes only exceptionally
also?
Extent of Monthly accounts, reserve Industrial experience
Participation right to appoint available
Seat on
Board? Sometimes Usually
Expected Period Approximately Not fured, has varied
of Realisation 5 Years from 2 - 15 vears
Fees Application fee plus Not
Charged 1% Facility Fee usually
Loaa Finance Yes - but only with Yes - but only with
Available also? eauitv capital eauitv cavital
Approx. No. of 5 6-8
FUND Kent Berkshire
[or Source] Investments Ltd Venture Fund
Managers Kent Economic Berkshire
Development Board Enterprise Agency
Head Office Maidstone Reading
Geographical Kent - within Berkshire

Preferences County Council
boundary
investment Range £20,000 to £100,000 Up to £50,000
(for expansion)
Equity Up to 10% to 49%
Usually sought 30%
investment - None
Preferences
Investment Agriculture.
W
None
Exclusions Retail, Transport
Start-up andor Yes No

Rescue Capital
also?
Extent of - Regular monitoring,
Participation assistance offered
Seat on Sometimes Sometimes
board?
Expected period 5 - 7 Years Typically
of Realisation 5 - 7 years
Fees Legal and None
Charged arrangement fees
Loan Finance No No
Available also?
Approx. No. of 10 Unspecified
FUND Metrogroup Oxford
[or Source] Seed Capital Fund Seed Capital Ltd.
Managers Metrogroup plc (above)
Head Office London Oxford
Geographical South East, Midlands Within 2 hours'

Preferences travelling of Oxford
Investment
Range £5,000 to £50,000 £10,000 to £100,000
(for expansion)
Equity 20% - 40% 10% - 49%
Usually Sought
Leisure, Entertainment,
Investment Health & Beauty Care, Science and
Preferences Medical-related, technology-based
Advertising & PR,
Publishing & Printing,
Media Communications
Investment Construction, -
Exclusions Heavy Engineering
Start-up andlor
Rescue Capital Yes Start-up only
also?
Extent of Invariably 'Hands-on' management
Participation 'hands-on' assistance via
Seat on Yes Usually
Board?
Expected Period Typically
of Realisation 2 - 5 years 5 years
Fees Charged By negotiation Negotiable
Loan Finance yes - but only with No

Approx. No. of 10 10
FUND Southampton Economic
[or Source] Development
Corporation Ltd
Managers -
Head Office Southamvton
Geographical Southampton and

Preferences its business area
Investment Range £15,000 to £50,000
(for ex~ansion)
Equity Minority
Usually sought
Investment Manufacturing
Preferences High-technology,
Marine En~ineerinp.
Investment
Exclusions
Start-up andlor
Rescue Capital Yes
also?
Extent of
Participation
Seat on Non-executive
board? director appointed
Expected period Average
of Realisation 5 years
Fees Charged 3% and approx.
1%leeal
Loan Finance Yes

Available also?
Approx. No. of New fund - yet to
Investments er vear be established
ENGLAND - South West
FUND -
[or Source]
Managers Capital Ventures Ltd
Head Office Cheltenham
Geographical
Preferences
Investment Range £25,000
(for expansion) upwards
Equity Varies - but
Usually sought usually BES
Investment
Preferences None
Investment
Exclusions None
Start-up andtor Start-up

Rescue Capital only
also? p- P
Extent of "Hand-on" involvement

Participation through board
revresentation
Seat on Yes
Board?
Expected Period Usually 5 years
of Realisation because of BES
Fees Charned Varv
Loan Finance
Available also?
Approx. No. of 12
NORTHERN IRELAND
FUND Ulster Local Enterprise
[or Source] Venture Capital Ltd Development Unit (LEDU)
Managers - LEDU
Head Office Belfast Belfast
Geographical Northern Northern

Preferences Ireland Ireland
Investment Range Minimum Up to
(for expansion) £5,000 &0.5m
Equity Varies Up to
Usually Sought 66%
Investment Services and Small industry and
Preferences Manufacturing - services employing
export growth up to 50
potential
Investment Businesses serving Agriculture, Retail,
Exclusions only local markets Wholesale,
Road Transport
Start-up andlor Yes Yes

Rescue Capital
also?
Extent of 'Hands-on' support
Participation in early stages -
Seat on Yes Sometimes
Board?
Expected Period 5 - 10 years 5 years
of Realisation
Fees Charged Yes No
Loan Finance No Yes

Available also?
Approx. No. of 1- 3 750 companies assisted
Investments per Year during 1985186
NORTHERN IRELAND
FUND Northern Ireland
[or Source] Venture Capital Ltd
Managers (above)
Head Office Belfast
Geographical Northern
Preferences Ireland
Investment Range £25,000 to £200,000
(for expansion)
Equity Minority
Usually sought
Investment None
Preferences
Investment -
Exclusions
Start-up andtor
Rescue Capital Yes
also?
Extent of 'Hands-on'
Participation as required
Seat on Usually
board?
Expected period 5 - 7 years
of Realisation
Fees Charged 3%
Loan Finance No
Available also?
Approx. No. of 5-6
Investment per year
SCOTLAND
FUND Scottish Development Highlands & Islands
[or Source] Agency Development Board
Managers Regional Offices:- (As above)
Aberdeen/Dumfries/Dundee
GalashieldGlasgow/
Edinburgh/Kirkaldyl
Stirling
c,
Head Office Inverness
Geographical BorderslCentrali Highlands

Preferences DumfriesIFifel & Islands
GrampianILothian
Strathclyde (SE)/Tayside
Investment Up to £50,000 £10,000
Range (under scheme 36) to
(for exvansion) £250,000
Equity 10% to 30% 10% to 30%
Usually Sought
Investment Help job savinglcreation General Manufacturing
Preferences contribution to exports, and Processing,
reduction of i m ~ o r t s Fish Farmina. Tourism
Investment
Exclusions None None
Start-upandlor
also?
Extent of MonthlyIQuarterly
Participation reporting as appropriate,
'hands-off sarticivation
Seat on Usually - or right reserved
Board? to appoint nominee director Sometimes
Expected Period
of Realisation 5 - 7 Years 5 - 10 Years
Fees
Charged None None
Loan Finance
Available also? Yes Yes
Approx. No. of
Investments er Year 1501200
SCOTLAND
FUND Tayside Lothian
[or Source] Enterprise Board Ltd Enterprise Fund
Managers (above) Lothian
Enterprise Ltd.
Head Office Dundee Edinburgh
Geographical Tayside Region Region administered by

Preferences Lothian Regional
Council
Investment Range £25,000 to £150,000 £30,000 to £250,000
(for expansion)
Equity Up to 25% 20% - 40%
Usually Sought
Investment None Manufacturing
Preferences
Investment Financial Services Retail
Exclusions
Start up andlor
also?
Extent of 'Hands-off, but Advice and assistance
Participation reserve right to via a non-executive
appoint director director
Seat on Sometimes Usually
Board?
Expected Period 5 - 10 years 5 years and upwards
of Realisation
Fees Legal costs, p!us 3% Negotiation, plus
Charged external appraisal legal charges
costs (where used)
Loan Finance Yes - but preferred Yes - but only with

Available also? with eauitv ca~ital eauitv capital
Approx. No. of 10 5
SCOTLAND
FUND Highland Aberdeen
[or Source] Opportunity Ltd. Fund Managers
Managers (as above) (as above)
Head Office Inverness Aberdeen
-
Geographical Highland Region Scotland

Preferences
Investment £1,000 to £30,000 £30,000
Range (upper limit subject to
(for expansion) to possible increase) £500,000
Equity Minority Up to 49%
Usuallv sought
Investment None None - but prefer
Preferences companies with
a track record
Investment Normal Farming None
Exclusions
Start-up andor Yes No start-ups, but

Rescue Capital rescues possible
also?
Extent of On-going monitoring, Prefer 'hands-off
Participation management training, control (tight
and advice financial control
essential)
Seat on No Usually
board?
Expected period Medium Term 3 - 7Years
of Realisation
Fees Charged None Variable
Loan Finance Yes Yes - but only

Available also? with eauitv ca~ital
Approx. No. of 60 (overall) 8
Investment per Year
WALES
FUND Welsh Development First Welsh General
[or Source] Agency Investment Trust Ltd
Managers Cardiff Head Office &:- Subsidiary of the
BangorIBridgendl Bank of Wales plc
CarmarthedHirwaud
Newport/Newtownl
SwansedTreforestl
Wrexharn
Head Office - Cardiff
Geographical Wales, Border

Preferences Wales Counties, M4 corridor
South West England
Investment Usually £5,000
Range less than to
(for expansion) £250,000 £50,000
Equity Under 10% to 30%
Usually Sought 30%
Investment None Most types of
Preferences business
Investment Media, firms meeting 'High-technology'
Exclusions purely local need not normally
favoured
Start-up andor Yes - but rescue

Rescue Capital Yes only exceptionally
also?
Extent of 'Arms-length'
Participation monitoring -
Seat on Right to appoint
Board? reserved, but not No
always exercised
Expected Period 3 - 10 Years Optimum 5 years
of Realisation maximum 10 years
Fees Charged . Legal fees Exit payment
Loan Finance Yes yes - but only

Available also? with equity capital
Approx. No. of 150 No data
Investments Per Year presently available
REFERENCES - GUIDEBOOK
CHAPTER l
Commerce Made Simple
Whitehead G.
W. H. Allen 1979
How to form a Private Company
Goldstein B.
Jordan & Sons 1985
Business Advisory Service
'Directors' Duties VI.3'
Peat Marwick December 1985
The Shareholdeu's Rights and Responsibilities
Wider Share Ownership Council November 1980
Finance for Business -Part 2: Private Sector Finance
Finance for Business (Publishing) & ICAEWIICAS October 1985
Money for Business
Bank of England1 City Communications Centre May 1985
'Venture Capital: how to get it and who to go to'
What To Buy For Business November 1986
Guidelinesfor Directors
Institute of Directors October 1985
The Law and Procedure of Meetings
Moore M.
Sweet & Maxwell1979
Annual Report 1987
Scottish Development Association
CHAPTER 2
'Fast-growing companies can slip and fall'
Warnes B.
Accountancy November 1985 (pp. 80-81)
Synopsis of a talk on the funding problems of growing companies
Warnes B.
Business Dynamics Ltd. (circa 1987)
CHAPTER 3
A Study of businesses financed under the Small Business Loan Guarantee
Scheme
Robson Rhodes
Department of Trade & Industry 1984
Annual Report 1984
Schlumberger
'Why Poole's little fish are not bigger'
Marsh P.
Financial Times 11/6/86
The Peat Marwick Report on the Business Expansion Scheme
Peat Marwick
Inland Revenue 1986
Role of the Non-Executive Director
PRO NED February 1982
The Natural History of the Company Director
Topics Number 1
Unilever 1979
Finance for Growth
Committee on Finance for Industry and the Electronics EDCs
NEDO September 1986
CHAPTER 4
Venture Capital Today
Lorenz T.
Woodhead-Faulkner 1985
'Lifespan analysis of businesses in the UK 1973-82'
British Business pp838-845 12 August 1983
Department of Trade & Industry
The Venture Capital Report Guide to Venture Capital in the UK
Cary L.
Venture Capital Report 1985
Review 1985-86
British Technology Group
Financefor Innovation
British Technology Group (undated)
Annual Report 1986 6.'Annual Report 1987
Scottish Development Agency
Report and Accounts 1985-86 6.'Report and Accounts 1986-87
Welsh Development Agency
20th Annual Report 1985& 21st Annual Report 1986
Highlands and Islands Development Board
'Venture Capital'
Economic Progress Report
ppl-3 No.180 September-October 1985 H.M. Treasury
Business Expansion Scheme
Inland Revenue Statistics 1986& Inland Revenue Statistics 1987
BES LEDIS Report
Planning Exchange (1414186 unpublished)
'West Yorkshire Enterprise Board'
LEDIS A281 September 1986
Planning Exchange
'Nottinghamshire County Council's Financial Support Schemes For
Business' LEDIS A287 October 1986
Planning Exchange
Annual Report 1984185
Nottinghamshire County Council
External Capital for Small Firms
NEDO 1986
BES Press Release 27/3/86
Inland Revenue
BES Press Release 13/11/85
Inland Revenue
UK Venture Capital Journal MayIJune 1986
Venture Economics
'BES tax relief goes mainly to south-east companies'
'Trying to fire the imagination'
Financial Times 1012187
Corporate Venturing
NEDO 1987
The End of Year Review 86-87
LEDU 1987
Annual Review 85/86
NCB Enterprise (now British Coal Enterprise)
Agencies in Regional and Local Development
Mawson J . & Miller D.
Centre for Urban & Regional Studies (University of Birmingham)
March 1983
'Portfolio Summary'
Prelude Technology Fund 1987
'Help for small business promised by Commission'
William Dawkins
Operations of the European Community concerning small and medium-sized
enterprises
H . Malosse
Commission of European Communities June 1986
Investing in the Local Economy
Collinge C.
Community Projects Foundation 1983
We Invest One Million Pounds Every Day
Investors in Industry Undated (circa 1987)
CHAPTER 5
'The risk capital market can be rough and thorny'
Accountancy December 1985 pp77-80
VentureCapital and The Growing Business
Peat Marwick McLintock 1985
Venture Capital Today
Lorenz T.
Woodhead-Faulkner 1985
Checklistfor raising venture capital
Business in the Community/Arthur Young undated (c. 1985)
'A capitalist puts money where he feels it will grow'
Davison A.
Accountancy February 1986
The Small Business Action Kit
Rosthorn J. & Dicken A.
Kogan Page 1986
Scheme
Robson Rhodes
DTI 1984
Venturespeak
Investors in Industry undated (c. 1986)
Capital from outside investors
Voller P.
Small Business Bureau September 1985
Special Report 5 - Licensing
Dore J. B.
Centre for Innovation in Industry June 1984
'Venture capital: a guideline for the smaller firm'
Wood I.
Accountancy July 1985
The Peat Marwick Report on the Business Expansion Scheme
Peat Marwick
Inland Revenue 1986
The V C R Guide to VentureCapital in the UK
Cary L.
Venture Capital Report 1985
Business plans and financing proposals
Arthur AndersenIBritish Venture Capital Association 1985
Enterprise Boards - their contribution to economic development and investment
Centre For Local Economic Strategies 1987
CHAPTER 6
How to make your business grow !
HMSO/DTI/COI 1985
Guide to Enterprise
Department of Employment/COI 1987
Annual Report 1985-86
Department of Employment 1986
A Big Help To A Small Business
DoEmpICOI June 1987
Thinking of Starting a Small Business
Derby & Derbyshire Business Venture (undated c. 1986)
Small Businesses in London - A Guide to Local Authority Assistance
London Research Centre 1987
Practical assistance for Small Rural Businesses
CoSIRA 1986
Facts & Figures
British Library Document Supply Centre April 1986
Rapid expansion in Business Innovation Centres
Press Release - European Business and Innovation Centre Network
l l111/86
Leaflet Birmingham Innovation and Development Centre (undated
c. 1986)
User demand in the U Kfor business information
Internal British Library Report (? undated c. 1985)
Initial Information To Support A n Application For Finance
London Enterprise Agency (undated c. 1987)
Basic Market Assessment
London Enterprise Agency May 1986
The Peat Matwick Report on the Business Expansion Scheme
Peat Marwick Inland Revenue 1986
Report of the Working Party on Loan CapitallEquity Support for Small
Businesses
Business in the Community May 1986
The Enterprise Initiative
Department of Trade & Industry/COI 1988
CHAPTER 7
Enterprise Agencies as Marriage Bureaux
Love11 P.
London Enterprise Agency March 1985
'Painless way to raise capital'
Drummond M.
The Times 27/8/83
External capital for small firms
NEDO March 1986
Inland Revenue Statistics l986 & Inland Revenue Statistics l987
Inland Revenue 1986187
'Lifespan analysis of businesses in the UK 1973-82'
Ganguly P.
British Business 12/8/83
CHAPTER 8
Money for Business
Bank of England 1985
Unlisted Securities Market
Moores & Rowland March 1986
'Criticism as expenses increase'
Kellaway L.
Unlisted Securities Market Financial Times Survey 27/1/86
Unlisted Securities Market
Financial Times Survey 20/1/87
Going Public: The Markets in Unlisted Securities
Bannock G.; Doran A
Harper & Row 1987
What is the Third Market?
The Stock Exchange December 1986
The Third Market: An introductionfor growing companies
Touche Ross undated (c. 1986)
London Share Service
'Financial Times' 17/6/87
'Third Market may pose threat to USM'
Rawsthorn A.
Financial Times 241lO/86
Peat Marwick's OTC Market Survey
Peat Marwick September 1986
Lloyds Bank Small Business Guide
Williams S.
Penguin 1987
APPENDICES
5 ) The Business Expansion Scheme
Small Business Bureau September 1986
Business Expansion Scheme -
A two-way benefitfor the investor and for small businesses
Department of Employment September 1985
Notes prepared for the Planning Exchange
Purdy D. April 1986
(ultimately published in shortened form as: -
LEDIS Overview 'Business Expansion Scheme' B39 August 1986)
Government Assistance Information Service
Bank of Scotland 26/6/87
'Business Expansion Scheme.'
Press Office
Inland Revenue 27th March 1986
7) Key Ratios
Predicting Corporate Failure
Argenti J .
ICAEW Series - Accountants Digest 1983
Argenti J .
ICAEW Series - Notes for Businessmen 1984
The Economist Pocket Style Book
Economist Publications 1987
Rosthorn J. & Dicken A.
Kogan Page 1986
The Genghis Khan Guide to Business
Warnes B.
Osmosis Publications 1984
Scheme
Wobson Rhodes DTI 1984
12) 'A' Scores

Argenti J .
ICAEW Series - Notes for Businessmen 1984
13) Lending Criteria

Lending to Small Firms
Committee on Finance for Industry
NEDO 1986
Rosthorn J . & Dicken A.
Kogan Page 1986
15) Practical Glossary

A share in the action
CBI November 1984
International Dictionary of Management
Johannsen J . & Page G. T.
Kogan Page 1980
Venturespeak
Investors in Industry undated (c. 1986)
Scheme
Robson Rhodes
'Venture capital in the United Kingdom'
Shilson D.
Bank of England Quarterly Bulletin pp207-211 June 1984
Going Public: The Markets in Unlisted Securities
Bannock G.; Doran A.
Harper & Row 1987
How toform a Private Company
Goldstein B.
Jordan & Sons 1985
The Economist Pocket Style Book
The Economist Pocket Accountant
References used during revision September 1988

Report on Investment Activity l987
British Venture Capital Association undated (c. 1988)
3i Group plc Annual Review 1988
3i Group plc undated (c. 1988)
'The Budget: The Chancellor's Speech'
The Financial Times 16/3/88
REFERENCES - DIRECTORY
Business in the Community Newsletter - August 1985
Business in the Community
The impact of local enterprise agencies in Great Britain
Centre for Employment Initiatives
Centre for Employment Initiatives/Business in the Community
February 1985
'Local Enterprise Agencies - How Can Your Partnership Benefit?'
Purdy D.
Partnership Management September 1986
1987 Directory
Business in the Community 1987
A Guide to Scottish Local Enterprise Trusts
Scottish Business in the CommunityISDA undated (c. 1986)
Business Plan
Department of Employment (Small Firms Service) 1986
Small Firms Service
No sourceldate (probably SFS E. Midlands c. 1986)
Small Firms Service Annual Report 1985-86
Department of Employment 1986
At Your Service: A Guide to Approaching LED U
LEDU undated (c. 1986)
Scottish Development Agency Annual Report 1986
Scottish Development Agency October 1986
Financial Aid Guide to Grants, Loans and Incentives in Scotland
Kennedy D.
Scottish Development Agency March 1986
Financefor new and established businesses - Information Pack
Welsh Development Agency undated (c. 1986)
Report and Accounts 1985-86
Welsh Development Agency November 1986
A guide to technology acquisition through licensing agreements
WINtech undated (c. 1986)
Practical assistance for Small Rural Businesses
CoSIRA November 1986
Rural Industry
Clark H .
CoSIRA September 1986 (Notes for presentation)
Information Pack
Rural Development Commission, undated (c.June 1988)
Rapid expansion in Business Innovation Centres
EBN News (European Business and Innovation Centre Network)
l l111/86
EBN European Business and Innovation Centre Network
European Business and Innovation Centre Network September 1985
EBN List of Members
European Business and Innovation Centre Network May 1987
'A Euro-network for nurturing enterprise'
Batchelor C.
Britain's New Products: The AICE Report - 2nd Edition
The Association of Innovation Centre Executives February 1986
How to makeyour business grow: A practical guide to government
advice and schemes
Department of Trade & Industry August 1985
Loan GuaranteeScheme
Department of Employment August 1986
Financial Incentives and Assistance for Industy: A Comprehensive
Guide
Arthur Young August 1985
Bank of Scotland GovernmentAssistance Information Service
(GAINS)
Bank of Scotland undated (c. 1984)
'LINC - Local Investment Networking Company Service Launched'
1/4/87
'Four More Enterprise Agencies Join LINC' 24/12/87
Press Releases
LINC
Leaflet ' A National Business Introduction Service'
LINC undated (c. June 1988)
Bulletin No. 114
LINC June 1988
Various sales literature for VCR, Business Link-up, VCN
Finance from Europe
Commission of the European Communities (London Office) May 1986
Operations of the European Community concerning small and
medium-sized enterprises
Malosse H .
Commission of the European Communities May 1986
'Help for small business promised by Commission'
Dawkins W.
A Businessman's Guide to Grants & Incentives in the Midlands
Peat Marwick McLintock December 1986
1987 Directoy of Members
British Venture Capital Association December 1986
Report on Investment Activity I987
British Venture Capital Association undated (c. April 1988)
Business plans and financing proposals
Arthur AndersenIBVCA August 1985
A big help to a small business
Department of Employment June 1987
Leaflet 'Equity Finance For Small Businesses'
Leicestershire Enterprise (undated c. 1987)
The Enterprise Initiative
Application and guidance notes for consultancy (The Enterprise
Initiative)
The Research and Technology Initiative (The Enterprise Initiative)
Leaflet 'The GrantsAdvisoy Service'
Barclays Bank plc January 1988
Leaflet 'Business Information Bureau'
National Westminster Bank plc February 1988
SURVEY REFERENCES/SOURCES
Peat Manvick Venture Capital Database Search February 1987
Standard Enquiry Letter to LEDIS Subscribers February 1987
Local Economic Development Information Service, Planning Exchange
1987 Directoy of Members
British Venture Capital Association December 1986
' A Guide to Business Growth'
Touche Ross October 1986 [reproduced from Investors Chronicle 14/3/86]
The V C R Guide to Venture Capital in the U K
Venture Capital Report July 1985
Finance for Business Part 2: Private Sector Finance
I.C.A.E.W. Guide October 1985
Sources of Venture and Development Capital in the United Kingdom 1987
Stoy Hayward
Financial Resourcesfor Economic Development
Chartered Institute of Public Finance & Accountancy October 1982
(latest updated material 22110186)
Regional Financefor Industy & Commerce
Blay's Guide 1983
(latest updated material 23/12/86)
'3i Takes New Inner City Initiative' 4110187
Press Release
Investors in Industry
SUGGESTIONS FOR IMPROVEMENTS
The Small Business Research Trust would be pleased to receive any
suggestions for improvements to this edition - especially from people
subsequently having encountered difficulties in raising risk capital not
covered in this guide. Please note any comments below, detaching these
pages afterwards and posting them to:-
The Small Business Research Trust,
School of Management,
Open University,
1 Cofferidge Close,
Stony Stratford,
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Tel: 0908 261122
Should you wish to keep the guide intact, then any constructive suggestions
or observations received via letter would be equally welcome. All responses
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Please note that the Trust is unable to enter into correspondence regarding
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(see the directory for details).
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INDEX
Terminology: 'risk', 'equity' and 'share' are seeking of (strongly recommended), v, xiii
intended to be synonymous (seep.iv for further adviser,,professional
qualification). as an mtermediary, 36,82
Thus 'risk' and 'equity' are ofien used in a problems as a linkage between a business and
general fashion, whereas 'share' -which can also investor, 79-81
be used in a similar m a n w -finds wider usage amortisation, see depreciation
when technical aspects are being discussed. annual report, 192
Accordingly, when further inf-tion relating to a appendices, contents listing, 91
technical or perhaps of a more detailed nature is appraisal, investment, see investment appraisal
being sought,it may be helpful to look first under a approved investment fund (Business Expansion
heading commencing with 'share ...' (e.g. by Scheme), 192, see also Business Expansion
looking under 'shareholders' rights' in the instance Scheme...
of the rights of shareholders). articles of association, 1,5,168,192
Bold page numbers - e.g. 192, or 54-60 - asset, 193
indicate where information in greater depth, such as net, (value)
a section about the topic, or a glossary definition, other expressions for, 7
can be found. not necessarily the value of a company, 164
Association of Innovation Centre Executives
A (AICE), 217-18
A scores, qualitative company assessment auditor's report, 193
using, 182-83
acid test, see quick ratio
advertising, see raising risk (equitylshare)
B
balance sheet, 193, see also business plan
capital, problems which may be bank, merchant, 155,202
encountered when, , bank managers
advice, business (principally low-cost), 50, 54- aide memoire for, 184
60 attitudes towards additional (unforeseen)
availability of, the, xiii cash requirements, 108,114-15
case study examples, 105,134 discretionary lending (limits), 7, 114-15
Directoty section: suppliers of advice and banks, clearing ("High Street Banks"), 81,195
information, lending criteria, 183-84
contact details, local, raising finance from, amounts of greater than
England, 234-86
Northern Ireland, 287-89 &100,000,88; matching applications, types
Scotland, 28%98 and sources (tables), 154-56
Wales, 299-303 suggestions for further reading, 185-91
directory contents listing, 206-7 banks, other, raising finance from
overview of suppliers, 208-20 amounts of greater than &100,000,88
see also Department of Trade and Industry matching applications, types and sources
and government, central and government, (tables), 154-56
local and innovation centres and local Bexley Venture Capital (profile of the board of a
enterprise agencies and Rural local governmentlpublic sector source of
Develo~mentcommission and Small risk/equity/sharecapital), 141-43, see also
Firms Service the Directory section
advice, professional business, 50,54,75,87, borrowing, see bank... and loan ... and
100,105,165 lending.. .
break-even point:sales margin, key ratio St. Helens BES Syndicate, see St. Helens
definition of, 158 BES Syndicate
break-even point, 178 syndicates, 28, 127, see also St. Helens BES
key ratio definition of, 158 Syndicate
break-even sensitivity, see business plan synopsis of the, 146-50
British Coal Enterprise, 227, as a source of tax relief under the, X, 24, see also advantages
share capital (public sector), 30 and disadvantages of the BES and synopsis
British Steel (Industd. 228. as a source of of the BES
share capital, 30." ' Business in the Community (BE), 210
British Technolom G r o u ~(BTGL 23 Business Information Bureau, 221
as a source of &ity capital, 30- business plan
raising finance from: matching applications, appraisal of, see investment appraisal
types and sources (tables) 15456 assistance with the development of, see
British Venture Capital Association, i, 23,75, advice, business and information, business
82,231 balance sheet, examples of a,
budget forecast, see business plan outline for monthly operating statement (in
building societies, raising finance from: a case study), 117
matching applications, types and sources spanning several years (in a case study),
(tables), 15456 100
business development, general: suggestions for specimen year-end (in business plan
further reading, 185-91 guidelines), 72
Business Expansion Scheme (BES), 24-26,48- break-even sensitivity (exam~le),43-44
49,80,134,155,194 budget forecast, detailed (eiHn;;le), 68,69,
'abuses' of the, 26 70,74,174-81
advantages and disadvantages of the, 19,136, cash-flow forecast,
150-53 detailed (example), 68-69,71,74,174-81
Approved Investment Funds, 24, (table) 25, testing of a, see investment appraisal
(table) 84,105,152,192 circulating a, see raising risk (equitylshare)
case study investment examples, (B: private capital: problems which may be
individuaYprivatesector fund; encountered when
hypothetical example) 98-103; (C: BES detailed guidelines, examples of,
syndicate) 104-19; (E: BES syndicate) general, 60-74
126-30 for a fund, 172-81
costs of raising finance under the, 76,106 need for a, the (when raking risklequityl
debate concerning the, X share capital), xiz-xiii, 34,36,50, 105, 131
direct investors, (table) 25, (table) 84 need for assistance with the development
assessment of investment risk, (table) 49 with a, the, xiii, 50,52,105
see also investor(s), private individuals: outline, example, 35,37
case study examples Business Expansion Scheme (BES)
directors, non-executive, 16-17, see also syndicate (case study example), 107
director(s), non-executive, local government source (case study
investment in the U.K., by amount, t , X, (by example), 123-24
industrial sector/-regions, table) 25, (table)
84 profit and loss account
investor preferences, (BES direct investors: example of a, (case study) 99, 132-33,
investment risk assessment, table) 49; BES (example) 179
funds (table) 76; BES syndicate (example) outline for monthly operating statement of
l06 a, an (case study example), 116
problems with the, 84-85, see also advantages time taken to develop a, the xiii, 51;
and disadvantages of the BES examples of, 97,105,109,123
qualifying trades, 25, see also synopsis of the Business Start-up Scheme, 24
---
RES business start-ups, see starting-up a business
reasons for raising equity finance, 19 business valuation, see share valuation and
restrictions asset, net, (value)
placed on companies, 17,25,26 businesses, small, the extent of, i
placed on investors, 17,24,49, 118-19
see also synopsis of the BES
C contract hire, raising finance by: matching
Cambridge Venture Management, 226 applications, types and sources (tables),
capital, 194 154-56
--
employed, return on (ROCE), key ratio 159; control (idof a business), retaining, (example)
203 4445,100
equity, see equity capital and share capital fear of a loss of, xi, (exaggerated ?) 19
gearing, see gearing, capital via corporate venturing, 27, see also corporate
loan, see also loan capital and lending venturing
resources (net), see asset, net via a majority shareholding, xi, see also
venture, see venture capital shareholders' rights, (voting)
working, 7 see also case studies: examples of firms having
net current assets: 7; reducing, 13; 177 successfully raised external risk/equity/
case study examples, in, 93, 126, 130 share capital
for a typical manufacturing company, ix, 9 control, releasing total, xiv,
key ratio delinitionsof, 159-60 to introduce finance and management skills,
capital gains tax (CGT), 194 14; 27, see also skills (in smaller
capitalisation, market, 201 businesses), management
case studies: examples of 6rms having control (of a company), strategic, (vested in the
board of directors) 1
successfully raised external risk/-equity/
corporate venturing, 2627,196
share capital benefits of, the
A: from private investors, 93-97 for the large company, 27
B: from a private sector fund and a private for the small company, 27
investor (hypothetical example), 98-103 definition, 26,230
C: from a Business Expansion Scheme (BES) via venture capital funds, 26,27
syndicate, 104-19 Corporate Venturing Register (National
D: from a pubLic sector fund, 11%26 Economic Development Office), 230
E: from a BES syndicate, 126-30 counselling, business, see advice, business and
F: from private investors, 130-37 information, business
cash-flow forecast, see business plan and creditor, 196, priority of claims at liquidation
investment appraisal (for different types of creditor) 5
central government, see government, central current assets, net, see capital, working
certificate of incorporation, see incorporation, current ratio, key ratio definition of, 159
certificate of
chairman, non-executive, (Business Expansion
Scheme syndicate, case study example) D
106,111 dealer, licensed, 200, see also Department of
benefits of a, the, l l8 Trade and Industry
see also director(s), non-executive, debenture(s), 196-97, see also loan stock
Cheshire Contacts, 226-27 constraintson the sale of, 77
clearing bank, 195, see also bank.. . shown in cash-flow forecast, 181
collection period, key ratio definition of, 159 debtlequity ratio, see gearing, capital
companies, other, raising finance from: debt finance, 197, see also borrowing.. .,
amounts of greater than £100,000, see also lending.. .,loan.. .
corporate venturing, 88 debtor, 197
Companies Act 1980, The, 77 Department of Trade and Industry
Companies Act 1981, The, 24 ("department for Enterprise"), 55,218-19
Companies Acts, The, 77,89 licensing by the, 77,200
company, 195 Regional Development Grants (case study
limited liability, i v example), 113-14
benefit of the, ix depreciation, 197
forming a, suggestion for further reading, director(s), 197
185, see also incorporation, certificate of board of, strategic control vested in the, 1
shareholders' rights, see shareholders' liability, (personal) 5
rights loans from, see loans, directors'
contents of guidebook and Directory, ii-iii non-executive, 15-17
(directors, non-executive continued) enterprise initiative, the, see Department of
Trade and Industry
benefits of, the xi, 17,105 equity
contacts via, new, 16, (case study example; base
non-executive chairman) 114 growth of, as a limitation on growth, 7,12
costs, 46,76, (example) 83 (net), see asset, net
. .
detached stand~oint~ossible.a more. 15
involvement with companies under the
capital, (e.-finance, risklshare), 198, see also
share capital
Business Ex~ansionScheme (BES), . ,, 16- comparison with loan capital, 6-13,18
17,105,llf description of, 1,2
vroblems with (under the BES), 17,75, mixing with loan capital (example), 8
case study example 118 raising, see raising risk (equitylshare)
special skills, 15 capital,
see also chairman, non-executive, reasons for raising (Business Ex~ansion
responsibilities of, the, 15, suggestion for Scheme exampie$), 19
further reading, 185 investment, the benefits of,
director-shareholderrelationship, 1-2, see also absence of a running yield, the potential
shareholders' agreement and shareholders' for an, 18
rights (voting) provision of a 'breathing space', (examples)
Directoty section: suppliers of advice, 18-19
-- -
information and suppliers of risk/equity/ participation, 28
share capital, 206-332 relinquishinga proportion of (in return for
diversification, 197, see also portfolio the prospect of sharing in a much larger
dividend, see shareholders' dividend cake), xiv
European Business and Innovation Centre
Network, 217-18
E European Venture Capital Association (EVCA),
earnings, 101,198 212
valuation of, 164 exit r z e ( s ) , 33,44,76,109,152
earnings per share, 198 created by the development of junior share
economic development board, 31, see also Kent markets, 24
Economic Development Board and via a full listing, 89
enterprise board expansion, risks associated with, see turnover,
EEC, 32,57,156,217 increasing
addresses, 232-33
Business Improvement Services, 32,106
innovation centres, support for, 57 F
stimulation of the supply of and demand for factoring
risk capital by the, 32 I raising finance via, 13, matching
Venture Consort scheme, 32,232 applications, types and sources (tables),

England (Directory section) 154-56
suppliers of general advice and information: shown in cash-flow forecast, 181
overview, 20612,215-21 finance, raising, see raising finance and gearing,
contact details, 234-86 capital
suppliers of risk/equity/sharecapital, and Finance Acts 1983, The, 149
linkages to, Financial Services Act, The, 77,78, (1986) 79;
contact details, 234-86 90,199
investment criteria of various suppliers, financial structure, of a business, 92
3067,308-26 case study examples, 9%103,136
overview (principally linkages to), 222-33 key ratio definitions of, 160
enterprise agency, local, 198, see also local see also business plan, detailed guidelines,
enterprise agency examples of,
enterprise board, examples of, (Yorkshire Financial Times, The, 82,230,233
Enterprise, and Lancashire Enterprises) findiv investors, see linking investors to
31, (Greater London Enterprise) 134, see investees
also government, local full listing, 88-89, see also Stock Exchange, The
funds, shareholders', see shareholders' funds growth, equity base growth as a limitation on
further reading, suggestions for, 185-91 business, 7, 12
G H
gearing, 182,199 heads of agreement ("heads of terms"), 40,46,
different formulae possible, 157 53
capital, 6 , l Highlands & Islands Development Board
bank manager's discretion (regarding share capital, source of, public sector
lending limits), 7 (Scotland), 30
examples of, (ratios) 8, (case study) 101 source of advice and information, as a, 212-
generally accepted U.K. maximum ratio 13
(by banks), 6 hire purchase
key ratio, 160 raising finance: matching applications, types
restricting flexibility by increasing, 18 and sources (tables), 154-56
income, 9 shown in cash-flow forecast, 181
key ratio, 160 HMSO (Her Majesty's Stationery Office), 232
glossary, 192-205
government, central
financial support for industry, I
see Department of Trade and Industry income gearing, see gearing, income
and Loan Guarantee Scheme incorporated business, 199
raising finance: matching applications, types incorporation, certificate of, 195, see also
and sources (tables), 154-56 company, forming a,
source of business assistance, as a, 59 see also Industrial and Commercial Finance
Rural Development Commission and Small Corporation (ICFC), see Investors in
Firms Service Industry
suppliers of information on (government information, business, 58-59, see also advice,
assistance), 219-21 business.. .
sources of share capital, 29-30, see also share information, further
capital, sources of, guidebook and directory references, 33344
government, local suggestions for further reading, 185-91
preferences as investors, see investors' information, release of sensitive, (during
preferences negotiations), 39, see also non-disclosure
profile of the board of a public sector source agreement
(Bexley Venture Capital), 141-43 information on suppliers of risk (equitylshare)
raising finance: matching applications, types capital, see raising risk (equitylshare)
and sources (tables), 154-56 capital: information on suppliers of
source of business assistance, as a, 55, (table) (examples of)
56-57,59,120 inheritance tax, 199
source of share capital, as a, 31, examples innovation, assistance with: suggestions for
(Kent Economic Development Board) further reading, 188-89
119-26; (NottinghamshireCounty innovation centres: suppliers of low-cost
Council) 31; overview (Yorkshire business advice (scope), 55,57-58, 59,
Enterprise) 138-41, see also enterprise 217-18
board(s insurance companies, raising finance from
Government Assistance Information Service amounts of greater than £100,000,88
(GAINS), 220 matching applications, types and sources
grants, as a means of raising finance, 13 (tables), 154-56
information on suppliers of, 220-21 interest cover, see income gearing
matching applications, types and sources inventions, help with, see innovation.. .
(tables), 154-56 investment, 200
Grants Advisory Service, 220 investment appraisal
Greater London Enterprise, 134 cash-flow forecast testing, 42, case study
growing businesses, the need for additional example 107,108
management skills in, 14-15,1617, see costs of, liability for the, (when appraised by
also skills, management a fund), 40-41,46,75,83; (for a BES
(investment appraisal, costs of, continued) when raising finance at a later stage,
problems (associated with the BES), 151
amounts over £100,000,87
syndicate; case study) 106; (for a local case study examples, 96-97,119,126,136
government source; case study) 122, see see also heads of agreement and investment
also raising risk (equitylshare) capital, monitoring and non-executive directors
generalised sequence of events (funds), 36; and shareholders' agreement
Business Expansion Scheme (BES)
syndicate (case study example) 109-10 investor(s), the preferences of, 33-49,60
key areas for investigation (by a fund), the, BES syndicate (case study example) 106
41 central government sources, 2%30,34
of the management personnel in a business Directory entries (investment criteria), 304-32
(by a fund), 37,38-39,40,47, (general EEC schemes, 31
share valuation) 165 general, X,
risk assessment (including "what-if' or control, regarding, xi
sensitivity testing, especially by a fund), positivelnegative factors, (under the BES;
42,4243,75,85, see also cash-flow table), 76
forecast testing local government sources, 31,34,47, (case
risk assessment by individuals (BES direct study example) 122, (Yorkshire
investors, table), 49 Entemrise) 13940
view of one venture capital fund, the, 36-41 private ihdividuals (BES and non-BES), 48-
see also 'A' scores and venture capital funds 49, (business plan widelines) 60, 136-37
appraisal: general acceptancelrejection private sector v;. pu6iic sector vs. private
rauos individuals, 33
investment appraisal and monitoring, the cost venture capital funds, xii, 21,34-47,60
of, see also case studies: examples of firms having
the view of a local enterprise agency, 105 successfully raised external risk/equity/
investment conditions, see investment offer, share capital
sample letter containing an, investor(s), private (individual), 27-28,
investment levels in the U.K. (smaller (business plan guidelines) 60,
businesses), equitylshare capital, see case study examples: (A) 93-97, (B: plus a
Business Expansion Scheme: investment in private sector fund - hypothetical example)
the U.K. and venture capital funds: 98-103, (C: via a BES syndicate) 104-19,
investment in the U.K. (E: via a BES syndicate) 126-30, (F) 13&
investment monitoring, 34, 174,178, see also 37
investment offer, sample letter containing problems when trying to raise risk capital
an, from, 77
cost of, liability for the, (with funds) 76, syndicates, see syndicates
(example) 83 investor@),misleading or deceiving,
example of, an (BES syndicate), 115-17 deterrents from, 77
investment offer, sample letter containing an, preventing proposals from, 78
168-71
--.-
investment trusts, raising finance from investorlsmall business compatibility, 81-82
amounts of greater than £100,000, 88 investors' club (i.-meeting) see marriage bureau
matching applications: types and sources investors' criteria, see investor(s), the
(tables), 154-56 preferences of
investment, return on (ROI), 203 Inve$ors in Industry ("3i"), 23,95,226,228,
shareholders', (example) 8 306, raising finance:
venture capital, 21 matching applications, types and sources
investor(s), the involvement of (tables) 154-56, invoice discounting,
Business Expansion Scheme (BES) fund raising finance via, matching applications,
managers: (via non-executive directors), types and sources (tables) 154-56
17; vs. venture capital, 24 issuing houses, raising finance from, amounts of
equity participation, 28 greater than £100,000,88
'hands-on' vs. 'hands-off, 4 5 4 6
influenced by distance, 46,49
private individuals (case study), 96-97, 135-
37
K problems when, see adviser, professional, as
Kent Economic Development Board: as a an intermediary
public sector/local government source of see also Local Investment Networking
share capital (case study example), 119-26, Company and marriage bureau and
see also the Directory section Venture Capital Report
key ratio, selected definitions 157-60; 200 linking organisations: when raising finance,
amounts of greater than £100,000,88
liquidation, 44, winding-up, 163; 200
L priority of claims on a business's assets, 4
Lancashire Enterprises, 34 shareholders' rights at, see shareholders'
leasing, raising finance via, matching rights
applications, types and sources (tables), liquidity, 200
154-56 key ratio definitions of, 159
legislation, see Prevention of Fraud loan capital
(Investments)Act 1958, The and comparison with equity capital, 6, 18
Companies Acts, The and Finance Acts 'last resort', of, 13
1983, The and Financial Services Act, The mixing with equity (example), 8
. ,
Leicestershire Enter~rise.227-28
lending
unsecured, 5, see also security
see also debt finance
application, the rejection of a, by a (clearing) Loan Guarantee Scheme, 13,97,201
bank, 81 raising finance: matching applications, types
increased, borrower's: the risk to and sources (tablesy154-56,
shareholdersand lenders, 8 study of the, (by Robson Rhodes), t x , 183
risk, the elimination of, 8 loan stock, 21
security, the need for, 6, see also security convertible, (case study example) 136
see also capital, loan see also debenture
leverage, private sector, 29, 140 loans, directors'
liability, (directors') personal, 5 capitalisation of, (case study example) 102
licensed dealer, see dealer, licensed case study example, 100, 101
limited liability company, see company, limited local enterprise agencies, see also marriage
liability bureau and Local Investment Networking
linking investors to investees, 28-29,78-81,82 Company
case study examples (investee business. .): sources of low-cost business advice, as, 54-
A: ..to private investors, via a local 55,56, 58,60,95, 143, ('enterprise
enterprise agency marriage bureau, 93- agency') 198,209-10,307
97 case study example, 104-19
C: ..to a Business Expansion Scheme database, 221
(BES) syndicate, via a local enterprise Local Enterprise Development Unit
agency, 104-19 share capital, source of, public sector
D: ..to a public sector fund, via a local (Northern Ireland), 30
information source, 119-30 source of advice and information, as a, 214-
E: ..to a BES syndicate, via a personal 1s
--
business contact, l 2 6 3 0 local government, see government, local
F: ..to private investors, via a specialist Local Government Act 1972, The, 31
publication, 13lL37 Local Investment Networking Company
costs of, examples of the, 79, see also Dtrectory (LINC), 28,78-79,82,223-24
section London Enterprise Agency (LEntA) marriage
Directory section: linking services bureau, 28,60,78,82,93,95,97,134,
contact details, local and national 143-45
England, 234-86 losses, early, see starting-up a business
Northern Ireland, 287-89
Scotland, 289-98
Wales, 299-303 M
directory contents listing, 206-7 management skills, see skills, management
overview of suppliers, 222-33 margin (gross), 201
improving the chances of, (examples) 82 marginal rate of tax, see tax, marginal rate of,
market caoitalisation, 201 ordinarv shares. see shares, ordinaw
marriage bureau, local enterprise agency, 28,
60,78,93,95,97,134,201,223-24
investors' club (L-meeting), 28 Business Expansion Scheme, 147
LEntA, 93,95,134,143-45 suggestion for further reading, 186
see also corporate venturing and Local
Investment Networking Company (LINC) P
and London Enterprise Agency (LEntA) partnership, 202
member (of a company), 201 incorporated, iv
memorandum of association, 1, 168,201 pension funds, raising finance from
merchant bank, 155,202 amounts of greater than &100,000,88
matching applications, types and sources
(tables), 154-56
N placing (under Stock Exchange rules), 89
National Economic Development Office, 230 portfolio, 202
National Enterprise Board, see British portfolio investment
Technology Group Business Expansion Scheme (BES) Approved
National Research and Development Investment Funds, 24
Corporation, see British Technology Group BES syndicate, 105
negotiation, 163,165, see also heads of government, local (example), 140
agreement and non-disclosure agreement venture capital funds, 21, (example) 21-23,
and investment offer, sample letter 85
containing an, preference shares, see shares, preference
net asset base, see asset, net pre-emption, 89
net asset value, see asset, net premium, 202, see also share premium
net capital resources, see asset, net Prevention of Fraud (Investments)Act 1958,
net current assets ('working capital'), see The, 77.78
capital, working pricelearnings ratio (PIE), (case study example)
net equity base, see asset, net 101; 202
net shareholders' funds, see asset, net principal, 203
net tangible assets, see asset, net problems, potential
non-disclosure agreement, (sample) 166-67 see adviser, professional, as an intermediary
non-executive chairman, see chairman, non- (problems as a linkage between a business
executive, and an investor)
non-executive directors, see directors, non- see Business Expansion Scheme (BES),
executive problems with the
Northern Ireland (Directory section) see investor(s), the involvement of - when
suppliers of general advice and information: raising finance at a later stage, problems
overview, 20642,21415 (associated with the BES)
contact details, 28689 see investor, private (individual), problems
suppliers of risklequitylshare capital, and when trying to raise risk capital from,
linkages to, see non-executive directors, problems with
contact details, 28689 (under the BES),
investment criteria of various suppliers, see raising risk (equitylshare) capital,
3047,327-28 problems which may be encountered
overview (principally linkages to), 222-33 when,
Nottinghamshire County Council: as a public see starting-up a business, problems with
sectorllocal government source of share profit, 203
capital, 31, see also the Directory section profit and loss account, see business plan
profit margin, gross, 174
key ratio definition of, 157-58
profitablity, key ratio definitions of, 157-58
objectives, guidebook and Directory, v prospectus, 203
offer for sale (under Stock Exchange rules), 89 issue (under Stock Exchange rules), 89
official list (stock Exchange), 89, g0 public sector, see government, central and
option, 202 government, local,
(public sector, continued) guidance regarding a generalised sequence of
agencies, raising finance: amounts of greater events, (flow-chart) 52-54
than &100,000,88 information on suppliers of, (examples of) 82,
see also share capital
problems which may be encountered when,
Q
quick ratio, key ratio definition of, 159
77-86--
advertising, 78
circulating business proposals, 78
reasons for (BES examples), 19
R timescale, (typical) 51, 140; case study
raising finance (of any type): for amounts of example, 136
greater than &100,000,87-90 see also Business Expansion Scheme (BES)
clearing banks, 88 and case studies: examples of firms having
insurance companies, 88 successfully raised external
investment trusts, 88 risWequity1share capital and investor(s),
issuing houses, 88 the preferences of,
linking organisations, 88 ratios, key, see key ratios
other banks, 88 registered business, see also incorporation,
other companies, 88, see also corporate certificate of,
venturing report, auditor's, see auditor's report
pension funds, 88 report, annual, see annual report
public sector agencies, 88 research & development, raising finance:
research & development, 88 amounts of greater than &100,000,88
share markets, 88-90 reserves, 203
venture capital funds, 88 return on capital employed (ROCE), see capital,
raising finance return on,
alternative suggestions for, (examples) 12-13 return on investment (ROI), see investment,
by raising prices, (example) 12-13 return on,
by selling shares, see raising risk rights issue (under Stock Exchange rules), 89
(equitylshare) capital risk
demonstrating expertise when, xii-xizi assessment
matching applications, types and sources BES direct investors, (table) 49,
(tables), 154-56 see also investment appraisal
next or second stage, for the, 87-90 associated with expansion, see turnover,
suggestions for further reading, 185-91 increasing
see also investor(s), the involvement of: when capital, ix, 4, see also equity (riskkhare)
raising finance at a later stage (amounts of capital and share capital
greater than f 100,000) lending,
raising risk (equitylshare) capital, 50-76 to shareholders and lenders, (resulting
business types (legal status) suited to, iv from increased borrowing), 8
by selling shares, 5 the elimination of, 8
costs (and workload) when, the, 50-54, ROCE, see capital employed, return on,
75-76 ROI, see investment, return on,
Directory section: suppliers of Rural Development Commission: source of
risklequitylsharecapital low-cost business advice, 54,56,59,60,
contact details, local and national 215-17
England, 234-86
Northern Ireland, 287-89
Scotland, 289-98
Wales, 299-303 S
directory contents listing, 206-7 sale and leaseback, raising finance via: matching
investment criteria of various suppliers applications, types and sources (tables),
England, 308-26 15456
Northern Ireland, 327-28 Scotland (Directmy section)
Scotland, 329-31 suppliers of general advice and information:
Wales, 332 overview, 20&13,217-21
(Scotland, suppliers of general advice and see also share and shares, ordinary and shares,
information, continued) preference
shareholder-director relationship, 1-2, see also
contact details, 289-98 shareholders' agreement
suppliers of risklequity/share capital, and shareholders' agreement, 46
linkages to, shareholders' funds, 204
contact details, 289-98 (net), see asset, net, (value)
investment criteria, 3047,329-31 shareholders' liabilities, iv
overview (principally linkages to), 222-33
Scottish Business in the Community (ScotBIC), extent of, the, i x
210 shareholders' return on investment, i x ,
Scottish Development Agency (example), 8
objectives and priorities, 29 shareholders' rights, 1,4, (example) 171
private sector leverage, 29 benefits of, potential, ix
raising finance: (amounts of greater than discrimination against minority
&100,000),88 shareholdings, 2
share capital, source of, public sector dividend, 1,21,46,198
(Scotland), 29,30 absence of a (running yield), the, 18, 106,
source of advice and information, as a, 150
212-13 case study example 102; 125
searching for investors, see linking investors to see also investment offer, sample letter
investees containing an
securities, 203 entitlements, specific, 161, (example of) 171,
dealing in, 77 see also articles of association and
security, 6,203 memorandum of association
share capital, t x , see also equity capital , liquidation, at, X , 1,4, 162-63, (example of)
share capital, sources of, 171
general, I X , 20-32 pre-emption, 89
public sector, 29-32 suggestions for further reading, 185-91
central government, see government, voting, 1, 162-63
central multiple voting, 47, 140
EEC, see EEC when holding greater than 75%, 1
England, see England see also shares, ordinary and shares,
local government, see also government, preference and investment offer, sample
local and enterprise board(s) letter containing an,
Northern Ireland, see Northern Ireland voting and profit relationship, 2
and Local Enterprise Development Unit see also share valuation
Scotland, see Scotland and Highlands & shareholding, investment via a minority, xi,
Islands Development Board and Scottish 4445,111,162-63
Development Agency see also case studies: examples of firms having
Wales, see Wales and Welsh Development successfully raised external
Agency see also British Coal Enterprise risklequityfshare capital and corporate
and British Technology Group venturmg
venture capital funds, XI-xtt, 21-24 shares, 203
see also British Steel (Industry) different types of, see share classes
share buying-back of, the, (ordinary, redeemable)
classes, 2 4 2; 24,109
main types of, comparison of the, (table), 3 sale of, the, 5, (examples) 12
markets, raising finance: amounts of greater problems with the, 77-86;
than £100,000,88-90 unmarketability, 24; lack of an
premium, (example) 12,202 established market, 79
valuation, 4647, 50, see also asset, net, see also exit routes and Stock Exchange,
(value) The
case study example, 101-3 shares, ordinary, 24,3,12,21,125
overview, 160-65 'A' non-voting, 2
suggestion for further reading, 187 comparison with other types (table), 3,
value, face ('par' or 'nominal'), 1, (case study cumulative participating preferred, 168,
example) 98, 103; 161 (example) 171
(shares, ordinary, continued) Stock Exchange, The, 24,88-90,141,147,151,
204, see also Third Market, The and
deferred ("founders"), 3 Unlisted Securities Market, The
preferred, 3,21 stock turn, key ratio definition of, 160
raising finance via, see raising risk stockbroker, 204
(equitylshare) capital stocks, 204
redeemable, 2 Strathclyde Venture Capital Club, 228-29
voting rights, 2,140 supply of and demand for risk capital,
shares, preference, 2,12,21,4, stimulation of the, see EEC
comparison with other types (table), 3 syndicates (Business Expansion Scheme), 28,
convertible, 4,21, (case study example) 102 127, see also Business Expansion Scheme:
cumulative, 4, 18,21 case study investment examples
participating, 4,21, (case study example) 125 syndication, venture capital, (EEC), 32
raising finance via, see raising risk
(equitylshare) capital
redeemable, 4,21, 141 T
voting rights, 4 tangible assets, net, see asset, net
skills (in smaller businesses), management tax
the need for additional, xi, 15,16,85,96,97, capital gains (CGT), 194
105,118,126,137,182 corporation, 171
supplied by investors, (via corporate implications regarding share disposal, 165
venturing) 27; (case study examples), inheritance, 199
marginal rate of, 201
96, 118, 126, 137, see also director(s), relief for investors under the Business
non-executive, Expansion Scheme (BES), see Business
see also control, retaining, and control, Expansion Scheme: (tax relief under the;
releasing total, synopsis of the; advantages and
Small Firms Service (Department of disadvantages,)
Employment): source of low-cost business Stamp duty, see Stamp Duty
advice (scope), 54,55-56,59,60,134,209, suggestionsfor further reading, 185-91
210-12 terminology, general guidebook, i v
sources of finance, see linking investors to glossary, 192-205
investees and raising finance and raising Third Market, The, 24,90,137,151,205, see
risk (equitylshare) capital and share also Stock Exchange, The
capital, sources of, trade creditor days, key ratio definition of, 160
spreadsheet, (micro-computer), 75,204 turnover, increasing, the risks associated with,
Stamp Duty, 75,204 (example) l l
St. Helens BES Syndicate (and The
Community of St. Helens Trust)
Business Improvement Services, support via
EEC, 32 Unlisted Securities Market (USM), The, 24,
case study C, 104-19 89,96,100,109,137,141,147.151,205.
starting-up a business (suggestio; for further reading) 186; see '
case study example, 104-19 also Stock Exchange, The
development beyond the initial phase, 87,
105
early losses, 9-10 v
"Death Valley" curve, 10 venture capital
initial costs, 9 database (of suppliers), 233
failure rates, 86, 126 definitions of, xi-xii, 21,205
perceived risks regarding the investment in, growth of, reasons for the, 24
80 venture ca~italfunds, xi-xii, 21-24
problems with, 81-86 apprais& general &cept&e/rejection ratios,
case study example 111-15; 137; xii, 50, see also investment ao~raisal
lack of internal sources of finance 154 captive (including examples), 23
see also company formation corporate venturing, 26
(venture capital funds, continued) Y
Yorkshire Enterprise, 31
example of business plan guidelines, an overview of, (as West Yorkshire
172-81 Enterprise Board) - as a local
independent, (including sources of capital for government/-public sector source of share
the private,) 23 capital, 138-41, see also the Directoy
investment section
appraisal and monitoring costs (example),
83 L
criteria, see investor(s), the preferences of,

examples of, 23; case study example
(hypothetical example) 98-103
falures, 83,86
in the U.K., overall level r, 23; analysis by
amount (table) 83; suggestions for
further reading 185-91
portfolio investment by, see portfolio
investment
raising finance from: matching applications,
types and sources (tables), 15456;
amounts of greater than f 100,000,88
syndication of (via the EEC), 32
Venture Capital Network, 229
Venture Capital Report (VCR), 28,78-79,82,
134-35, (suggestion for further reading) ,
190; 225
venture capital sponsor (linking organisations):
raising finance (amounts of greater than
&100,000),88
voting rights, see shareholders' rights and shares
W
Wales (Directoy section)
suppliers of general advice and information:
overview, 20642,213-14
contact details, 29%303
suppliers of risklequitylsharecapital, and
linkages to,
contact details, 29%303
investment criteria of various suppliers,
3047,332
overview (principally linkages to), 222-33
warranties, 46
Welsh Development Agency
share capital, source of, public sector
(Wales), 30
source of advice and information, as a,
213-14
"what-if' testing, see investment appraisal
winding-up (of a business), see liquidation
working capital, see capital, working
worth (business), see net asset value

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RISK CAPITAL FOR SMALL FIRMS

A Guidebook & Directory, 1989

Web Version (2011)

But enterprise support in the UK is again under review – with the

England - Business Link http://www.businesslink.gov.uk/

Northern - Invest Northern Ireland http://www.investni.com/

Scotland - Scottish Enterprise http://www.scottish-enterprise.com/

Wales - business.wales.gov.uk http://business.wales.gov.uk/

The enterprise agency network now has the National Federation of

Web Version Introduction /2

1) the Guidebook section, including the Chapters, Case Studies, Further

2) the Directory, including the Chapter References, Directory of

They may be found here http://www.scribd.com/SME_Research, and

To assist readers in tracing text of interest, the main sections are

N.B. Whilst the optical character recognition (OCR) process is usually

Web Version Introduction /2

The purpose of this section is to provide information on locally-based

Main U.K. Business Advice Agencies for Smaller

Linkages to Potential Investors for Smaller Businesses

Sources of Risk Capital

Main U.K. Business Advice Agencies for Smaller

B) Linkages to Potential Investors for Smaller

D) Risk Capital Sources & Their Main Investment

'Investigatefirst; spend later'

SMALL FIRMS SERVICE (SFS):

Contact Details of the regional offices are shown under the

Contact Contact details for each SDA Small Business Division

Contact Contact details for WDA equity capital and regional

Contact Contact details for the LEDU regional offices (with

RURAL DEVELOPMENT COMMISSION:

Scope Most of the Rural Development Commission's offices

For contact with the headquarters, the address is:-

Scope The centres' services are often free or charged at a nominal

Locations At present the number of innovation centres in the UK

'THE ENTERPRISE INITIATIVE' (DTI):

The DTI has several offices based in London.

GOVERNMENT SCHEMES -INFORMATION:

Contact For further details, contact:-

(4) Local Enterprise Agency Databases

The information is supplied 'on-line', that is, direct from

Contact For further information, contact the nearest local

'(L)' = Member of LINC

For those wishing to invest

Local Investment Networking Company (LINC),

For membership enquiries, contact:-

Strathclyde Venture Capital Club

8 Venture Capital Network

The Financial Times

FURTHER INFORMATION: Risk Capital Sources

Venture capital database

D = Department of Trade & Industry (DTI)

BURY ST. EDMUNDS

Cambridge Enterprise Agency Ltd., Tel: 0223 323553

Rural Development Commission Tel: 0223 354505

S Small Firms Centre, Tel: 'Freefone Enterprise'

& Cambridge Capital Management Ltd., Tel: 0223 312856

& Prelude Technology Investments Ltd, Tel: 0223 862232

M/&L Cambridge Venture Management, Tel: 0223 862618

R Rural Development Commission, Tel: 0473 827893

R Rural Development Commission, Tel: 0603 624498

R Rural Development Commission, Tel: 0604 765874

I Timken Business and Innovation Tel: 0604 79 1179

D DTI East Midlands, Tel: 0602 596460

Web Version Introduction /2

Web Version Introduction /2