June 2013
3
App aims to help entrepreneurs configure a deal By James Watkins
james.watkins@trinitymirror.com A BUSINESSMAN from Guildford has invented a smartphone application to help entrepreneurs and start-up companies to seal investments. The new smartphone app is being launched in the summer by former entrepreneur turned corporate finance fundraiser, Aristos Peters. Mr Peters has said his app, called D Risk It, will give budding businessmen and women the ability to take their ideas through what he has labelled a ‘deal MOT’, and will help them approach angel investors. “It flows out of the work I started doing in recent years as an introducer,” said Mr Peters, who grew up in Guildford and moved back to the town in 2009 after living in Cardiff. “I introduce businesses to investors, or deals to investors, and very often they are not ready, so there is a high rejection rate.
New HQ for KOGT AN operator in the oil and gas industries has established a Guildford office to oversee projects in Europe, Africa and the Middle East (EAME). Kongsberg Oil and Gas Technologies Limited (KOGT) will be based in Walnut Tree Close, providing sales and technical support to customers. Jon Stærkebye, senior vice-president for software and services, said: “The growing number of upstream developments in increasingly sensitive areas within the EAME region is driving a requirement for intelligent decision support solutions so now is the ideal time to grow our operations by establishing a new HQ in the UK.” KOGT is a wholly-owned subsidiary of the Norwegian firm Kongsberg Gruppen ASA. The Guildford office will be the focal point for customers operating in the EAME region. Initially it will concentrate on solutions and services in the fields of process simulation and flow assurance projects as well as realtime information systems for drilling decision support – disciplines vital to ensuring the continued safety, growth and sustainability of upstream operations in the EAME region. In time it is expected the office will expand its range of business activities to include KOGT’s subsea equipment solutions and services. Mike Topp, KOGT UK’s managing director, said of the move: “It’s a key stage in our development providing improved facilities and additional space as we continue to increase our presence in the EAME region.”
“There are a lot of business plans, and finding good ones is like finding gold. It takes a long time. “There is very little out there to help start-ups get prepared before they approach angel investors. This means significant numbers of businesses approach investors too early and with a poorly configured investment deal, inevitably they fail, not even getting their foot in the door.” Mr Peters said that start-up entrepreneurs are currently in vogue, and with popular television programme Dragon’s Den, locating angel investment has been the new goal in terms of taking a business proposition to the next level. He explained that more than 95% fail in the scramble to talk and pitch their deal to investors. The app aims to be a simple education and practical business tool, showing tangible ways to make adjustments in strategic business of fundraising approaches. It has three modules, the first of
which focuses on the money or return that the investors get back upon the exit or sale of a business. Then there is a seven-stage test that reviews and scores key areas of the strategy and investment deal. Finally it gives a suggested valuation based on current investment considerations and the entrepreneur's progress achieved to date. “It is to help them configure their deal,” Mr Peters said. “It is not a business proposition. This is a deal.” He said that having blind hope of just walking up to investors and attempting to persuade them just does not happen. “This is about getting people smart. It is an educational app.” Mr Peter’s aim is that the tool will save entrepreneurs both time and money, but what he says is more important, is that instead of having a deal go straight to the out tray, it will increase the chances of entering into a deal conversation with investors.
Aristos Peters has developed a new smartphone app.
Bank signs up to charity’s business club METRO Bank has become the 25th member of a disabled charity’s business club. Launched in 2011, the Challengers Champions Business Club consists of local firms committed to growing their business whilst supporting the charity through membership. Challengers, based in Guildford, provides play and leisure opportunities to disabled children and youngsters across Surrey. Metro Bank became one of the latest editions to Guildford’s North Street in April, and the store's local director, Ben Sheeran, visited the charity and said he was immediately taken with the work that the charity does and was excited to get involved. “As a new business in Guildford, we are delighted to have joined the Challengers Business Club,”
Mr Sheeran said. “Metro Bank is a community bank which works closely with people and businesses in the local area to understand their needs. “Guildford is a great community and we’re excited to be part of it.” The business club brings members of firms together at exclusive quarterly events with high profile speakers, as well as providing a networking opportunity. Previous speakers at such events have included former F1 world champion Damon Hill, MP for South West Surrey and secretary of state Jeremy Hunt and BBC journalists, Michael Buerk and Kate Adie. Challengers CEO, Laura Sercombe, said: “We are thrilled to have Metro Bank Guildford as part of the Business Club, we are
looking forwards to welcoming them to their first event and working with them in the coming months.” Established in 1979, Challengers is based at Stoke Park and its aim is to enhance the lives of disable children. The charity’s facilities are open seven days a week, 50 weeks of the year, and each year over 1,300 youngsters aged between two and 25-years-old get involved with the projects to make friends, build life skills and challenge their impairments through playing. Its services cost in excess of £2 million each year, and the majority of its income comes from voluntary donations, so it relies heavily on support of individuals, community groups, businesses and charitable trusts to enable it to continue running its services.
Merger of law firms is announced
Metro Bank has opened in North Street in Guildford.
A SOLICITORS in Surrey, which has been providing services to businesses for more than 280 years, has announced that it has merged with another law firm. On Wednesday May 28 Morrisons Solicitors LLP, which has offices in Woking, as well as Redhill, Wimbledon, Camberley and Twickenham, joined forces with Cozens Moxon and Harts Solicitors. Morrisons has served individuals and businesses since 1729, and the firm has stated that the move will enable the combined firms to offer a wider range of legal services to clients. Graham Whitworth, partner at Cozens Moxon and Harts, said:
“Morrisons is a modern organisation which has greater strength in depth, expertise and additional resources to offer our clients. “Becoming part of Morrisons will enable us to offer a wider range of legal services to our clients including specialist advice on litigation, employment, company and commercial matters.” Paul Harvey, managing partner at Morrisons, said: “Having spent significant time with Graham and his colleagues, we are confident that we share the same values and focus on delivering outstanding client service. In recent years we have built a team of talented lawyers and have fully embraced technology to ensure that we have
the resources to provide an outstanding service to all our clients.” The merger means that the partners and staff from Cozens Moxon and Harts will move into Morrisons’ new officers at 8 Waldergrave Road, Teddington, but they will also be able to offer appointments to clients at any of Morrisons’ five offices. Members of the Morrisons’ team recently completed the Guildford Legal Walk 2013, including Adrienne Edgerley-Harris, Robert Mulvany, Mark Walker, Tanuja Sellahewa, Chloe Wilson and Nicole Evans, helping to raise £6,300. The walk aims to raise both funds and awareness to support the Surrey Law Advice Centre.