A conference aimed at helping to bring back confidence into the
West Midlands economy will focus on opportunities to invest in the
region's businesses.
The Institute of Directors' "Leading the way out of recession"
event aims to boost the chances of companies surviving and
prospering over the coming months.
The IoD has joined forces with the Institute of Chartered
Accountants in England and Wales and the British Business Angels
Association to stage the event at the Botanical Gardens in
Birmingham on Wednesday, November 4.
John Phillips, regional director of the IoD said: "What
businesses need more than anything else is a renewed sense of
confidence in the future.
"There are some signs that this is returning and we aim to help
the process of recovery by drawing attention to the positive
successes that have already been achieved and point the way for
more."
The event will feature an expert view on the region's prospects
from IoD chief economist Graeme Leach and advice from turnaround
specialists Dr Harry Moore and Stephen Moon of Venturn.
Malcolm Durham, chairman of FD Solutions, will give "the wise
Finance Director's guide to forward planning"; Dale Parmentier of
conference and event-management group DRP will discuss growing your
business in a recession; and John Chapman of Torquil Clark will
discuss financial management.
The all-day event kicks off with a session on business angels
let by the British Business Angels Association and featuring
advice, guidance and "war stories" from entrepreneurs who have
fought the recession and won.
Two seasoned Business Angels will explain how they got involved
and the benefits. Also a tax expert will outline the tax
opportunities open to potential investors, while a lawyer will
explain the legal aspects of investing as a Business Angel.
Until the recession, business angels were investing about
£1 billion a year in this country - compared with about
£18 billion in the United States.
John Phillips said: "Business angels are the dragons in the den.
They put their own money into new enterprises and, as a result,
they share the risks and rewards with the company's directors.
"Indeed, an angel's expertise and experience can be as valuable
to a growing business as their money. In many cases, angels take a
hands-on role in the companies they invest in.
"We will be hearing about the successes and failures of real
investors. At a time when other forms of investment are not
offering particularly desirable rates of return, we hope this
aspect of the conference will inspire some more businessmen and
women to consider becoming angels."
A recent ICAEW survey showed that the recession has created a
climate of mistrust among businesses. Many are now wary of entering
into contracts with customers and suppliers who may go bust.
The survey by showed that 40 per cent of companies had concerns
over the threat of insolvency in their supply chain.
The survey showed that businesses need clear financial
information about their suppliers and customers. And 79 per cent of
companies had introduced stronger credit controls to deal with
their concerns.
John Phillips said: "Companies had to batten down the hatches to
survive the full force of the recession.
"What we need now is a sense that there are opportunities which
can be exploited rather than disasters to be avoided. We hope our
conference will help reassure the business community that the worst
of the storm is over and there is light on the horizon."