Funding Ambition and Growth - Riverside Inverclyde · 2018-02-13 · Over 18’s only. ... Mobile...

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Funding Ambition and Growth Custom House, Greenock Tuesday 13 February 2018

2

riverside inverclyde | Funding Growth & Ambition | Agenda

08:30 – Welcome and Outline of Event

08:35 – Royal Bank of Scotland – David McKay

08:45 – LINC Business Angels – Brian Hale

08:55 – Scottish Enterprise – Alan Dick

09:05 – Inverclyde Council / Business Gateway – Will Nisbet

09:20 – AGL Wealth – Craig Gibson

09:30 – Riverside Inverclyde – Andrew Bowman

09:40 – Break Out and Networking

10:00 – Event Close

Boost your business Approaching the bank for finance

David McKay

Relationship Manager

13th February 2018

Information classification: Public

Meet your Relationship Manager

David McKay Relationship Manager M: 07768 558015 [email protected] Background I have 19 years experience within Royal Bank of Scotland with most of last 12 years spent within Commercial and Business Banking. I am based in our Greenock office and support business customers all across Inverclyde, North Ayrshire and parts of Argyll & Bute. I have recently also taken over as teams Agriculture specialist for Renfrewshire and surrounding areas. My aim is to make our customer’s banking simple, support their business growth ambitions through our Fee Free Lending Offer and provide an excellent customer experience. Qualifications Accredited Chartered Banker

Everyday help

• Business experts to help with day-to-day banking & specialist needs

• 24 hour access to account information and transaction services by phone, mobile or online

• Overdraft facilities to boost your working capital, improve cash flow or cover unforeseen expenses

• Credit and debit cards to help manage business expenditure

• Nationwide network of cash machines and branches, many with business quick deposit facilities

Security may be required. Product fees may apply. Over 18s only

Traditional Bank Funding Options

Small Business Loan

– £1000 to £50,000 over maximum of 10 years.

– Unsecured facility.

– No arrangement fee or early repayment charges.

Fixed Rate Business Loan

– £50,001 to £500,000 facility over maximum term of 25 years.

– Secured facility.

– No arrangement fee or early repayment charges.

Business Overdrafts (Working Capital Facility)

– Arrangement Fee applies to facility.

Business Credit Cards

– Set-up fee applies.

– Provides working capital facility to the business.

Four things the bank will ask

Information classification: Public 7

1. Purpose of borrowing?

2. Amount?

3. What is the lending term?

4. About your business?

• Security may be required. Product fees may apply. Over 18’s only. Excludes refinance and

Commercial Real Estate Finance

• Any property used as security, which may include your home, may be repossessed if you do not

keep up repayments on a mortgage or other debt secured on it

• Product fees may apply. Over 18s only

Assessing an application, what do we look at?


1. How we could help you boost your business

2. Your contribution

3. Your business plan and experience in the sector

4. Affordability, serviceability

5. Credit history

Statement of Appetites

What is a Statement of Appetite ? – Letter from the bank stating our willingness to lend.

– Counter signed by Relationship Manager and either Director

Business Banking or Senior Lending Manager.

– Based on current information (including ideally most recent set of FYE accounts and breakdown of debt servicing costs).

– Not a credit sanction but does hold additional consideration from credit when making an application after Statement of Appetite issued.

– Can be issued across all sectors.

– We can also issue SOAs for non Royal Bank of Scotland customers.

Other sources of Royal Bank of Scotland finance

Other ways in which The Royal Bank of Scotland can assist with finance

Information classification: Internal 10

13/02/2018 Presentation information in footer 11

Enterprise Finance Guarantee Scheme

We are participants of this government back initiative to make funding

available to companies with viable business proposals who can’t obtain

conventional finance due to lack of security. Funding may be accessed via a

loan, overdraft or invoice finance.

Information classification: Internal 12

13/02/2018 Presentation information in footer 13

Summary


The Royal Bank of Scotland is actively looking to lend

Statements of Appetite issued to RBS and Non-RBS customers

Offer more than conventional lending

Business Contact


Name David McKay

Business

Relationship

Manager

[email protected]

Twitter@ @david1mckay1

Mobile 07768558015

Business Angels

…more than just money

Brian Hale LINC Scotland

www.lincscot.co.uk

LINC Scotland

• Founded 1993 to support development of the business angel marketplace

• FSMA exempt

• Non-profit:- sponsored by both private and public sectors

• Shift of balance in Scotland over 8 years:

from 400 individuals & 5 syndicates to

- c. 100 individuals + 21 Syndicates (900+angels)

• Facilitators, we are NOT advisors.

So What Is ‘Angel Investment’?

• Not family and friends

• Objective, direct investment in unquoted

companies by private individuals

• Active participation & value added

• Funding usually in the “Equity Gap” (in the UK this = £20,000 to £500,000)

• Larger sums from syndicates

• Angels invest close to home

• Assessment and negotiation will take an

average of 4 / 6 months

• Company will need 3 or 4 further rounds

• 6 + years to a (successful) exit

• Have potential for high returns--(5X to 20X)

-------- because

Characteristics of ‘Professional’ Angel Deals

• 10 in 100 proposals worth looking at

• Of the 10, invest in 2 or 3

• Of every 10 investments:

• 5 will crash and burn

• 3 will return the value of the investment

• 2 will pay out big

With these odds this is better done as a team sport….

2 in 100

The Funding Gap

Founder, Friends & Family

Grants

Stage of Development

Seed Start - up Early Growth Established

Business Angels

Venture Capitalists

Quoted Markets

Banks

The Funding Gap

Founder, Friends & Family

Grants

Stage of Development

Seed Start - up Early Growth Established

First Customer

Venture Capitalists

Quoted Markets

Banks

What Companies Need to Demonstrate

• The various skills within the Team

• T -- Together

• E -- Everyone

• A -- Achieves

• M -- More

• Understand a Shareholders Agreement

• Manage Investor Risk

What Companies Need to Demonstrate

• High calibre of Team that will listen

• Large growing market

• Real understanding of customers

• Scalable and sustainable revenue model

• Scope for at least 5X money return

• Shared vision on direction and exit

• Manage Investor Risk

Likely Investment Stages

• Executive Summary usually 3 to 4 pages.

• Initial Meeting with Investor Gatekeeper.

• The Meeting Agenda:--Investor/ Investee.

• Available Time scheduled for Meeting.

• Relevant information for the Meeting.

• Take a Team member (or an Advisor!!).

• Follow up meetings – due diligence starts.

• Expect delays.

Not all angels are the same so think about

• Sector relevance – contacts and market

knowledge

• Experience and skills

• Investment capacity – can they follow on?

• Their role in your business

• Understand Shareholders Agreement

• Understand EIS

Choosing Your Angel

Why Angels do Due Diligence

• Evaluate the opportunity against their investment criteria

• To reduce their risk

• To understand the pressure points & identify areas of focus

• To get to know the management …. including

----Seeing the management under pressure

-----Vision for business and EXIT plan

Likely scope of Diligence

Market Technology IP

Size Technical Risks Patents

Trends Competing Technologies Trademarks

Competition Product Manufacture Know-how

Ops & Threats Design Rights

Sales & Marketing People

Value Proposition Management

Business Model Key Staff

Sales Forecasts Roles & Responsibilities

Routes to Market

Operations Finance Legal

Product Delivery Balance Sheet Staff

Customer Support Cash Flow Premises

Systems/Controls P&L Suppliers

Health, Safety Management Info & Customers

Environment Internal Controls

Survey of LINC Members on Key Factors Influencing Decision

• Tax breaks - 22%

• Business Plan - 30%

• Sector - 39%

• Advisors - 2%

Investor opinion of Entrepreneur & TEAM - 89%

Truisms of Valuation

• It’s only worth what someone will pay!

• What company is now more valuable than

a future promise

• All assumptions are subjective

• Supply of Capital always wins – Angels

don’t have to invest

• “Blow” your own credibility!!!

Tax Environment

Enterprise Investment Scheme EIS

Seed EIS (introduced April 2012)

• Must be eligible company.

• 30% ceiling on shareholding Ordinary shares.

• 30% EIS income tax relief at point of

investment up to £1m p.a.

• 50% SEIS - relief as above up to £100k p.a.

• Relief on losses at highest personal rate.

• Tax free gains if held for qualifying period.

• Information current but Budgets change Tax schemes!!

LINC Members Activity 2014

88 deals with £18.01M invested by private investors

Overall investment £35.03M inc. other leverage

Average angel deal size = £205K (£149K)



Overall investment £44.2M incl other leverage

Average angel deal size = £195,728



Overall investment £37.5M inc. other leverage

Average angel deal size = £254K (£203K)

Other Options

• Online matching services for example

www.fundingcircle.com

www.syndicateroom.com

www.angelsden.com

www.venturegiant.com

www.angelinvestmentnetwork.co.uk

www.lendingcrowd.com

• Crowdfunding etc www.crowdcube.com

www.seedrs.com

www.sharein.com

www.growthdeck.com

• www.ycfguide.com

• Local Connections ------- and your Bank?

http://www.fundingcircle.com/

http://www.syndicateroom.com/

http://www.angelsden.com/

http://www.venturegiant.com/

http://www.angelinvestmentnetwork.co.uk/

http://www.lendingcrowd.com/

http://www.crowdcube.com/

http://www.seedrs.com/

http://www.sharein.com/

http://www.growthdeck.com/

Regional Selective Assistance


Alan Dick,

Grant Advice and Appraisal Team

Scottish Enterprise

Direct Dial 0141 242 8314

Email: [email protected]

mailto:[email protected]

Investment Grants

• Regional Selective Assistance

– investment grant scheme for businesses in

designated areas of Scotland

• Moved from Scottish Government to Scottish Enterprise

on 1 October 2009, but no changes made to

Programme


• Aims to improve job opportunities provided in the Assisted Areas of Scotland

• Open to limited companies, sole traders or partnerships

• Projects must create and safeguard jobs by supporting investment

• Open to manufacturing and service sector projects serving more than a local market

• Discretionary grant dependent on a number of factors incl. market served

Directly create/ safeguard

employment

Serve more than just local market

Capital expenditure

Funded mainly from private

sector

Require RSA to proceed

The project must:

RSA Project Appraisal

• Initial enquiry

– High level review of project against scheme criteria

• Appraisal of application

– Size and impact of project

– Market assessment

– Financial viability

– Need for assistance

• Decision (Advisory panel for grants >£250k)

• Turnaround - 40 working days upon receipt of signed application

Inverclyde Council

Business Development

Regeneration & Planning

Service

Presented by

Will Nisbet

Small to Medium Enterprises

Business Assistance • Employment Base within Inverclyde

• Up to 250 Employees

• 50 Million Euro’s turnover (c.£40m)

• 43 Million Euro’s balance sheet (c.£34m)

Small Business Assist Grant

• For Capital Expenditure

• Up to 50% of project costs

• Up to £5,000 ex VAT

• Business Plan

• Accounts

• 3 quotes for Project Required

• Provide justification of Gap Funding

• Paid Receipts Required before Payment

Small Business Assist Loan




• 0% over 3 years

• Business Plan

• Accounts & Experian Report



Training Support Grant

• Aimed at Management & Key Workers

• Statutory or Mandatory not funded


• Up to 50% of Total Costs

• Training Plan & Accounts




Tourism Grant

• For Improvement of Services

• For Facilities & Marketing Activities

• Operating in Tourism Related Activity


• Up to 50% of Project Costs




New Start-up Grant


• New Business trading up to 6 months



• Business Plan, UTR No, B/Bank Account




New Marketing Grant

• Most Marketing Activities






Growth Company Dev Fund

• Introduce New Products/Services

• Identify New Markets & Exporting



• Business Plan & Accounts

• Working with a B/Gateway Advisor




Growth New Start Fund

• Support Commercial Rent, Marketing, Website Development. Trading less 1 year

• Up to 50% of project costs, £1,000 ex VAT

• Turnover of £150k within 3 years

• Business Plan & 2 Years Projections

• Working with a B/Gateway Advisor




BLS Loan Fund

• Loans £50k to £100k

• Online Application to have completed

• Business Plan, Accounts & 3 Years Projections

• Quotes for Project Required


• Must have match funding in place


Property Assistance Grant

• Up to 50% of total costs for permanent improvements to business premises. May be up to £10,000 Support

• The Grant provides ‘gap’ funding - the minimum finance needed to allow a project to proceed.

• Physical improvements to premises in the form of shop

front refurbishments / replacements, upgrade /

replacement signage, and improved security in the

form of CCTV / roller shutters etc.

• Doesn’t support repairs, statutory obligations, cosmetic improvements i.e. décor

Business Gateway

• Start-up one to ones

• Start-up Workshops

• Growth Workshops

• Growth one to ones

• Expert help assistance

• Digital Boost

Application

• Application forms Grant Support

– download from www.inverclyde.gov.uk

• Application for BLS

– Online Application www.bls.co.uk

http://www.inverclyde.gov.uk/

http://www.bls.co.uk/

Contact Details

Will Nisbet – Business Development Team Leader

e-mail [email protected]

Tel: 715555

Gary Campbell – Property Development Team Leader

e-mail [email protected]

Tel: 715581



Questions?

• If you have any questions please ask

• I Thank you for Listening

“Funding Growth & Ambition”

Craig Gibson

Managing Director

AGL Wealth Management Ltd

Who are we?

• Formed in 2009, with each of our senior management team having a minimum of 20 years’ industry experience

• Offices in Glasgow, Edinburgh and London, serving clients throughout the UK

• We firmly believe that financial education and advice should be made available to everyone, and cost should not be a barrier

What do we do?

How do we do it?

Business Owners Directors/Execs Management Employees

Unlimited Reviews Quarterly Reviews Annual Reviews Online process

Auto-enrolment Solutions

Cashflow Modelling Family Protection Tailored investment solutions

Employee Health & Wellbeing

Programmes

Wealth Creation, Preservation &

Distribution Strategies

Retirement Planning

Full investment report to review

before proceeding

Voluntary Rewards & Benefits

Succession Planning Investment & Savings

Suitability Report on completion

Business Consultancy

Appraisal

Specialist Professional

Partners

Tax & Estate Planning

Online access 24/7 with guided advice

if required

AGL Corporate Services

• Business Consultancy Appraisal – Full Business Review

– Look for areas where we can reduce costs

– Look for areas where we can improve profitability

– Help businesses retain and attract the best employees

• We work with carefully selected panel of professional partners – Preferential terms / Regularly review service levels

and fees

Not your traditional IFA

CONCERNS

AGL CORPORATE SERVICES

AGL PROFESSIONAL PARTNERS

SOLUTIONS

CLIENT

Regulated Credit Broker

• Independent Whole of Market Review – Business Bank Accounts

– Lending • Overdrafts

• Term Loans

• Asset Finance

• Invoice Finance

• Commercial Mortgages (including Pensions - SIPP/SSAS)

• Renewables Finance

• Gap Funding

– Asset Sales

Business Energy Broker

• Independent Whole of Market Review

• Act as a intermediary between supplier and client

• Due to size of our operation we can negotiate significant savings

– Low prices passed directly to client

– Can fix prices for 1, 2 or 3 years

R&D Tax Credits

• Government funded tax incentive designed to encourage companies to invest into R&D – Have you been developing or improving your business

products, processes or systems?

• Most SMEs are potentially eligible – Limited Company – Less than 500 employees – T/O of under 100m Euros or Balance Sheet total under 86m

Euros

• A claim can be up to 230% of qualifying R&D expenditure

Spend, Save or Invest?

Business Owners Directors/Execs Management Employees

Unlimited Reviews Quarterly Reviews Annual Reviews Online process

Auto-enrolment Solutions

Cashflow Modelling Family Protection Tailored investment solutions

Employee Health & Wellbeing

Programmes

Wealth Creation, Preservation &

Distribution Strategies

Retirement Planning

Full investment report to review

before proceeding

Voluntary Rewards & Benefits

Succession Planning Investment & Savings

Suitability Report on completion

Business Consultancy

Appraisal

Specialist Professional

Partners

Tax & Estate Planning

Online access 24/7 with guided advice

if required

“Funding Growth & Ambition”

Contact Us:

Craig Gibson

Email: [email protected]

Mobile: 07545 338835

Glasgow Office: 0141 348 7710

Edinburgh Office: 0131 240 3830

London Office: 0203 780 5860

Web: www.aglwealth.com

Regulatory Statement

AGL Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority.

AGL Wealth Management, AGL Financial Planning, AGL Simply Invest and AGL Corporate Services are all trading styles of AGL Wealth Management Ltd.

Registered in England No. 06911689 Registered Office: 1st Floor, 2 Woodberry Grove, North Finchley, London N12 0DR.

The value of your property and investments can go down as well as up and you may not get back the original amount invested.




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Riverside Inverclyde Andrew Bowman

Head of Business Investment; Riverside Inverclyde

73

riverside inverclyde | 2007 - 2019| Overview

Riverside Inverclyde (ri) is an Urban Regeneration Company (URC) limited by guarantee, with charitable

status established by its two member organisations: Inverclyde Council and Scottish Enterprise.

As a public/private partnership set up in 2007, ri has been designed to secure the long-term economic

growth of Inverclyde. Specifically ri is focussed on addressing a single strategic objective –

“To advance economic growth through the exploitation of opportunity for the benefit of the business

and residential community of Inverclyde through…

• Expanding our business base;

• Supporting the growth of SMEs and business start-ups;

• Attracting new firms and investment;

• Building the skills and employability of local people; and

• Regenerating key economic sites, town centres and communities.”

The existing framework and funding model runs until 31st March 2019.

Who We Are

74

Since 2007, ri has delivered over £75m of investment to date including:

The £7m Riverside Business Park in Greenock in 2013:

ri‘s Deliverables

riverside inverclyde | 2007 - 2019 | ri successes

75

The £5m Kelburn Business Park in Port Glasgow in 2015:

ri‘s Deliverables


76

The Iconic £5m restoration of the Custom House in Greenock in 2017:

ri‘s Deliverables


77

Multiple business centres - encouraging small medium enterprise growth locally:

ri‘s Deliverables

Above – Riverside Business Park in Greenock

Below – Gourock Municipal Buildings in Gourock

Above – Scarlow House in Port Glasgow

Below – Victoria House Offices and Workshops in Greenock


78

Award winning civic improvements in Gourock and further civil works in Greenock and Port Glasgow:

ri‘s Deliverables

Above – The award winning £5.8m Gourock Town Centre Redevelopment was completed in 2016


79

And fantastic heritage art-works:

ri‘s Deliverables

Above – Port Glasgow Railway Station Murals

Below – Annie in Gourock Town Centre

Above – Endeavour in Port Glasgow Town Centre

Below – Ginger the Horse at Cathcart Square in Greenock





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Riverside Inverclyde Projects – 2018-2019

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Greenock Ocean Terminal Expansion – City Deal

riverside inverclyde | 2007 - 2019 | Current Projects

82

Bakers Brae - Road Realignment


83

Baker Street – Food and Drink Enterprise Hub


84

Taste Inverclyde – www.tasteinverclyde.co.uk


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