Breakfast meeting for budding Scottish businesses
Business Support and Networking - 29/05/2007 17:24:17
More than bacon and eggs was being digested at a recent business breakfast event, as firms from all over Scotland gathered to share their views on how to push onwards with their business venture.
The Scotsman Business Breakfast, sponsored by technology services firm TSG Scotland was held with the aim of helping small businesses on the path to success.
The third in the second series of events, the morning meeting was entitled Growth for Success and allowed representatives to field questions and network with potential clients.
Presentations were also made on the role entrepreneurs play in a developing the economy and how that role has moved on in Scotland as well as how to take a company to the next level through finance.
Working out how much is needed can be a lottery. Thomson said entrepreneurs should be realistic but make sure there are sufficient funds for at least a year before trying to raise more.
Geoffrey Thomson, chief executive of Braveheart Investment Group, based in Perth was one of the panellists giving his top tips for success: "When you are in front of an investor, he will usually have a good idea of what your business plan is worth," he said.
"Don't go in with silly numbers."
Mr Thomson also advised budding firms that a thorough business plan was essential: "Don't go into a presentation with a blue sky plan.
"There should be an executive summary of two pages that will convince investors in five minutes to make a decision," he added.