La República Catalana



Angel Loans Against Devil Banks

Banks, the fallen angels of the world financial crisis. Below: Angel dreams of heavenly growth, but in angelic countries. Greece anyone?


The fastest growing small businesses are not financed by traditional banks, mired in speculation and debts. In fact banks have ceased to lend to new companies, which by definition are small. A non-bank network for investment could be the future for business finance bypassing traditional banks. Investors avoid banks and lend directly. Not for profit angels carry out the investment research and seed the companies that attract the venture capitalists. The investor knows where he is putting his money, informed objectively about the risks, and the entrepreneur does not waste his time with a devil bank.

The World Business Angels Association was founded in 2007 in unbusiness-like Portugal with central offices in the bureaucratic hell of Brussels as a non-profit NGO dedicated to business angel investment. US Angel Capital Association explains that business angels invest in high growth early-stage ventures. The American NGO was founded by Angel Resource, a charitable organization of the Ewing Marion Kauffman Foundation, the world’s largest philanthropic foundation focused on entrepreneurship. 58% of US Angel investment in 2011 went to healthcare and internet companies with an average investment of €555,556. When other venture capitalists were attracted, average investment doubled to over one million euros per company. The Catalan organisation, founded in 2002 also as an NGO, is called tellingly BANC, Business Angels Network Catalunya. But Spain is backward, also in providing information, the latest from 2008 with an average investment in only 56 companies of €226,190, only 40% of American angel investment. More ethereal than real, angels are preferable to devils, even if devils are fallen angels.





Crèdit dels àngels contra els bancs dimonis

Somni angèlic de creixement celestial al país dels àngels. Qui vol Grècia? Primera foto: Els bancs, àngels caiguts de la crisi financera mundial.

Les petites empreses de més ràpid creixement no són finançades pels bancs tradicionals, enganxats en l’especulació i deutes. De fet, els bancs han deixat de concedir préstecs a noves empreses, que per definició són petites. Una xarxa no bancària per a la inversió pot ser el futur del finançament de les empreses sense passar pels bancs tradicionals. Els inversors eviten els bancs i deixen els diners directament. Àngels sense ànim de lucre duen a terme l’anàlisi inversor i posen les llavors a empreses, atraient inversors de capital risc. L’inversor sap on posa els seus diners, informat objectivament sobre els riscos, i l’empresari no perd el seu temps anant als endimoniats bancs.

La World Business Angels Association va ser fundada el 2007 a la poc emprenedora Portugal, amb oficines centrals a l’infern burocràtic de Brussel·les com una ONG sense ànim de lucre dedicada als àngels inversors. US Angel Capital Association explica que els àngels inversors inverteixen en les primeres etapes d’empreses d’alt creixement. L’ONG americana va ser fundada per Angel Resource, una organització benèfica de la Fundació Ewing Marion Kauffman, la fundació filantròpica més gran del món dedicada als emprenedors. El 58% de la inversió d’US Angel el 2011  va anar a empreses de salut i d’internet, amb una inversió mitjana de €555.556. Quan els inversors de capital risc hi anaven també, la inversió mitjana es duplica a més d’un milió d’euros per empresa. L’organització catalan, fundada el 2002 també com una ONG, té el nom ben revelador de BANC, Business Angels Network Catalunya. Però Espanya va endarrerida com sempre, també en facilitar informació, la més actual de 2008 amb una inversió mitjana en només 56 empreses de €226.190, el 40% dels àngels inversors d’Amèrica. Més eteris que reals, els àngels són preferibles als dimonis, tot i que els dimonis siguin àngels caiguts.






25 May 2012 - Posted by | Economy/Economia |


  1. ¡¡hola¡¡¡ tu hablando de los angeles ……. y en la Vanguardia , sacan otra vez el agua del Rodano ……. mas alla Clinton , rodeado de putas en Montecarlo. ¡¡ya tienes temas para trabajar ¡¡¡


    Comment by Jordi | 25 May 2012 | Reply

  2. The euro is moribund and who knows how much longer it can be kept on life support. When the Germans reach that über-epiphany and decide to bolt back into the “D-Mark reloaded” a la Adenauer 1948 then the whole EU circus tent falls in: spectators, wild animals, clowns and all. And from Madrid we’ll hear the puzzled lament echoing in the empty elevator shafts of the Bankia Towers…. “Y yo, QUE?”

    Note from the editor: I’m not sure the euro is as dead as English papers say. Remember speculators come from London and Wall Street. In fact the euro has been remarkably upbeat. It’s fine with me if it falls to parity with the dollar, as it was, even below, when born. I’m not sure Washington will like that though, a 40% devaluation by its biggest competitor!

    Barry: I am irredeemably American and as such, though having spent 2/3rds of my life in Europe, I remain sceptical at some deeply rooted level about the unity, either political or economic, of the European “experiment”. I just see too many cultural and historically antithetical crosscurrents for it ever to work smoothly as a unified whole. Without a unified tax and economic policy for starters there will always be too many varied speeds and levels of efficiency for a single currency to work. Or a consensus on social protection and basic rights such as freedom of speech or collective bargaining. Think of Urban’s Hungry (He being a creation of George Soros!) at present.Or Spain. Central planning might help but has its static drawbacks and often (not always as was testified to by the successful US space program in the 60s) runs at cross purposes to imaginative innovation. But complete laissez faire and absence of control has led us into the mess we are in. How does one square local work ethics or simply ethics and the levels of tolerance to corruption-contrast Denmark with Italy or Spain- which has been a big part of the problem. Hell, what was or is Bankia but the cash cow for feeding the PP. It may need the younger generation to “unify” the logistics and identity of what Europe is to be or how it might be made to function as a whole. But often the most talented are emigrating to places like Canada, Brazil, Australia, or even still, the States.

    Note from the editor: I have the advantgae of co-living in Switzerland which in reality is a miny eurozone. There is no single tax code, each canton raises its own taxes. The cetral government is bigger than Brussels, but not much more so. Swiss bonds are only for the central government, not the cantons. If a canton or a municipality goes bust -and they do- that’s their problem. Its not like Greece or California expecting others to bail them out. So I’m not so pessimistic on the eupo. I think it is great that Spanish politicians have lost the power to print money, and as is now clear, to spend without knowing where the money comes from a la Pujol.


    Comment by Barry | 25 May 2012 | Reply

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