In this opinion piece, investor Pip Wilson discusses why seeking funds from angels may be the right option for your tech business.
Angel investment is versatile. Angels come in many shapes and sizes and put money into companies for many reasons. Some seek greater returns than they would get from more traditional investments such as stocks and shares. Others might want to take advantage of tax incentives and schemes such as EIS and SEIS. For entrepreneurs and small business owners, angel investing can be an excellent way to prove concept and gain traction. But like any other form of funding, it isn’t right for everyone.
The benefits of bootstrapping
Not all early-stage businesses require external capital to get going. In fact, the vast majority get off the ground with only personal funds or with help from family – this is known as bootstrapping. If you can afford it, then bootstrapping affords you a huge amount of autonomy commercially, practically and creatively: bootstrapping allows a lot more freedom when it comes to decision making, and the focus is directed towards a single goal....