smallbusiness.co.uk: Helping your business think big

Helping small businesses to get off the ground by becoming a business angel is more rewarding than simply making money, a successful entrepreneur reveals.

Alistair Arkley, head of New Century Enterprises, has become a board member of the British Business Angels Association and explains that helping fledgling businesses to succeed is appealing because of the relationships that can be built with the small business owners they sponsor.

Speaking to the Northern Echo, Arkley adds that one motivation for becoming a business angel is to give something back to the community.

He tells the newspaper that although cash investments in new firms can play a 'crucial' role in their success, 'the knowledge and experience which angels can bring to a fledgling company is often just as valuable'.

Many entrepreneurs who have done well from their own companies are willing to take risks and help others because they are grateful for their achievements, Arkley adds.

According to the British Business Angels Association, there was a total of £28.9 million invested in smaller companies by its entrepreneurial members in 2005.