| Angels are alive in Clark County
We all know it takes money to make money. But if you’re a cashless entrepreneur with a great idea, where do you turn? A number of start-up companies are getting their funding from angel investors. According to the New Hampshire-based Center for Venture Research, angels invested $11.9 billion into U.S. startups during the first half of 2007. Part of those dollars was invested right here in Clark County – local high-tech firm Lightfleet Inc., in business since 2003, is 100 percent angel-funded, according to CEO John Peers. Angel funding helps span the "equity gap," said Dr. John Becker Blease, a finance professor at Washington State University Vancouver. Entrepreneurs usually need from $100,000 to $5 million to fund their endeavor. Financial institutions are usually loath to lend that much, while venture capital firms aren’t interested in such "small potatoes." Clint Page, CEO of Dotster Inc., a successful, young high-tech firm headquartered in Vancouver, said that angel investing in the Vancouver-Portland metro area "is coming of age.
(AFX UK Focus) 2007-11-25 16:07 GMT: HSBC considers 2 bln stg sale of French retail business - report
LONDON (Thomson Financial) - HSBC PLC is understood to be considering a sale of its French retail business as part of the bank's new plans to derive 60 pct of its earnings from emerging markets, according to the Sunday Telegraph. The newspaper did not name its source, but said the personal financial services and small business banking operations in France, estimated to be worth about 2 bln stg, are thought to be on the block. Analysts believe that HSBC's businesses in Malta, Canada, Australia and Bermuda and its regional banking operations in the US could also be put up for sale. The moves comes amid pressure from Knight Vinke, the activist investor that has accused HSBC of a lack of focus and criticised its pay structure. The newspaper said it is understood that the review of underperforming businesses was launched early this year, before Knight Vinke launched its high-profile campaign.
Fraud can happen to any size business
Think of corporate fraud and most likely you'll recall big names in the news — executives who bilked companies and investors of millions of dollars. But corporate fraud happens to businesses of all sizes, including small businesses and even nonprofit organizations. And it happens in a lot of scenarios — from stealing cash or equipment to working with an outside vendor to steal from the company. According to a study last year by the Association of Certified Fraud Examiners, occupational fraud and abuse caused a median loss of $159,000. Nearly one-quarter of the cases caused at least $1 million in losses and nine caused losses of $1 billion or more. Small-business losses to corporate fraud are disproportionately larger, according to the report: The median loss suffered by a small business with fewer than 100 employees was $190,000 per scheme.
Yodle Raises $12 Mln In Latest Financing - Update
(RTTNews) - Monday, online lead generator, Yodle Inc., announced that it has raised $12 million in a round of financing. The new funding is the second round of successful financing for the quickly growing New York based start-up. The funding was led by Draper Fisher Jurvetson, with existing investor Bessemer Venture Partners also participating in the round. Yodle said it has aimed to make buying online ads simple and easy for small businesses and to offer a high-performing, cost-effective alternative to the outdated Yellow Pages, previously the standard for small business advertising. Court Cunningham, CEO of Yodle, said, "Today, 63 percent of consumers primarily search for local businesses online; Yodle is tapping this enormous advertising market to drive customers to businesses in a way that has never been done before.
Startup Bank Predicts New Traditions In East Pasco
A new bank started with $20 million from local investors and business people will open its doors Dec. 10. Florida Traditions Bank expects to lend to small-business owners, farmers and ranchers, said Bud Stalnaker, president of the new venture. The bank also wants to cater to those customers' personal financial needs, including checking accounts, and auto and home-equity loans. Its target market is east Pasco County and Spring Hill. Stalnaker, a career banker, said some customers want a bank with locally based staff and executives. "They can walk in here and talk to the president," he said. "They can't do that in a lot of places, and we'll come to their businesses and open their accounts for them if they can't get here." Florida Traditions is opening in the former Wachovia bank at 14033 Eighth St.
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