Calling all small business owners! It’s time to get your business investment ready. You could receive equity financing to start or grow your business.  First Angels Jamaica (FAJ) is hosting an Investment Readiness Programme (IRP), starting May 11. Register online at firstangelsja.com or growwithbiztactics.com. 

The IRP was developed to provide knowledge and skills in business management to business founders and SMEs in Jamaica. It is mandatory for founders who want to pitch to the FAJ, but also available to founders who just want the knowledge and skillset to grow their businesses.  

Co-founder and Manager of First Angels Jamaica, Sandra Glasgow, told Kalilah Reynolds Media that they started the programme after recognizing that many of the founders submitting applications to pitch, and Small and Medium Enterprises (SMEs) in general, lack some of the knowledge and skills needed to grow businesses successfully. 

The Investment Readiness Programme 2021 (IRP)

The programme is currently accepting registration. It is set to begin on May 11 and end on July 7, 2021. The programme will last for 45 hours with two and a half hour sessions taking place over Zoom every Tuesday and Wednesday. 

The entire course is being made available for only J$5,000, although the true cost is closer to $130,000. The reduced cost is made possible through scholarships from sponsors, including:

•  JN Fund Managers Limited, 
• York Investment Management, 
• Musson Foundation, 
• the Development Bank of Jamaica, 
• the ICD Group, 
• First Angels Jamaica and 
• Biztactics Limited.

However, FAJ will only be selecting thirty (30) participants, so applying early is important.

Business founders will get a chance to learn topics such as: 

• Marketing, 
• Accounting and Finance, 
• Building Financial Models, 
• Tax Laws, 
• Valuation, 
• Growth Scaling and Strategy, 
• Managing Talent, 
• Business Contracts and 
• Intellectual Property (IP) Protection. 

Instructors will include: 

• Sanya Goffe, partner at Hart Muirhead Fatta, 
• Lisa Soares-Lewis, Human Resource Specialist and Consultant who will be instructing on Managing Talent, 
• Kimala Bennet, Founder and CEO of The Lab, will be instructing on How to Become a Great CEO and Strategy, Growth and Scaling. 
• Sandra Glasgow will be leading the sessions on How to Pitch Successfully, Valuation and Corporate Governance.

At the end of the programme, the business founders will get the opportunity to do a practice pitch to a panel of angel investors. The top five (5) will get a chance for one-on-one training from Glasgow. These five will then go on to pitch to the angel investors for the opportunity to receive equity financing.

To participate in the First Angels Jamaica Investment Readiness Programme, register online at firstangelsja.com or growwithbiztactics.com.

About First Angels Jamaica 

First Angels Jamaica is an angel investor network consisting of thirty (30) high net worth Jamaican business leaders. These angel investors invest their own money into startups and early-stage businesses in exchange for a share in the company. They get a return on their investment when they later exit the business by selling their stake in the company for more than their initial investment, although this doesn’t always happen. In fact, according to Glasgow, they have not yet recouped any of their investments. Since 2015, FAJ has made nineteen investments valued at US$2.6M in twelve companies. 

Businesses that get equity financing can be from any industry once they have, among other characteristics, a solid team and a marketable product or service.  Glasgow explained that angel investors are looking for innovative businesses that have significant growth potential. 

How much do they invest?

Once these businesses are identified, there is no limit on how much equity or quasi-equity financing is provided. 

“We have no minimum and we have no maximum,” said Glasgow. “We have invested as little as US$45,000 to as much as US$700,000 in several rounds.” 

“Capital is not the problem. We have equity available, ” she added . “It is just to find businesses that show potential for growth and founders who are committed to their businesses and willing to accept guidance.” 

In addition to equity financing, angel investors provide their time and support to help the businesses grow.

Categories: Featured Episode