Member Article

Ask BIRT to improve investment prospects

Businesses in the North East are being offered a new intelligent software tool to help them prepare for investment. NStar Finance & Business has created a unique piece of software that helps companies and entrepreneurs better understand what investors are looking for in potential investments.

BIRT, which stands for Business Investment Readiness Tool, is intended as a self assessment tool for SMEs looking to raise equity finance.

BIRT guides businesses through a series of questions, examining the business proposition from the perspective of a potential investor, before providing feedback on areas for improvement. The system is aimed at SMEs that are actively seeking venture capital funding to help get them ready for a first meeting with an investor.

Jonathan Gold, a director of NStar, said: “The aim is to focus the minds of those seeking investment without the pain of a ‘dragon’s den’ style meeting. BIRT will improve their plans prior to seeing an investor for the first time and boost the region’s investment prospects.

“Preparation is the key. Too often people don’t know what investors view as most important and may have unrealistic expectations of the subjects to address in a business plan. This means paying attention to everything from the financial returns for investors to the motivation and skills of your management.”

Kim Wong, Emerging Technologies Manager at One NorthEast, said: “BIRT provides a great introduction to selecting finance, which can often be a complex and daunting task for businesses. I’m sure the toolkit will prove to be an essential resource for SMEs by ensuring they are fully prepared for questions from investors.”

For more information about the BIRT, and the Finance & Business programme, visit www.nstarfinanceandbusiness.com.

This was posted in Bdaily's Members' News section by Ruth Mitchell .