In this article Insider considers the challenges of financing growth in the startup and scale-up phases and looks at how to overcome barriers to entry into funding markets.
The article features quotes from Boardroom Advisors Chairman, John Courtney:
John Courtney, serial entrepreneur and chief executive of Boardroom Advisors, says he is struck by how the funding landscape has changed during the course of his career.
“There’s more support generally for startups and scale-ups,” he says. “It just seems as if there are a lot more players in the game. There’s a myriad of opportunities.
“If I go back to my early career – where would we have got funding? You would go to your bank and get a loan. That’s how you did business. I guess there were angels back then, but they weren’t as apparent as they are now. There’s a lot more profile for different types of funding now.”
He says entrepreneurs are now also more open to taking funding and taking risks. “The culture in England is still nothing like it is in the States, but it is changing,” he says. “In America, if you haven’t failed in the past, people don’t want to fund you. They realise you learn from your mistakes in business. Failure is almost a badge of honour over there. I think people do take more risks now, because the penalties for failure are socially less severe than they used to be.”