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Requirements

There are two phases under the exemption process to become a fully registered business and be allowed to present your business to registered potential investors. Businesses may go through the two stage process or go directly to full registration. 
 

• Pre-Registration Application

Pre-Registration is the process of completing what is known in the bizAngels scheme as the Application form in accordance with the requirements listed in the Code of Practice sections and submitting to bizAngels for approval. If approved, this allows bizAngels administration to review the capability and validity of information within the company. This may assist you, the business, to make a decision as to whether to proceed now or after further developments.

 

• Full Registration

Full registration is when you have gone through the full investment ready process. Preferably with the support of a business development facilitator. The documents required are the Application form and an Investment Statement and the Business Accounts. Please read sections of the Code of Practice thoroughly before compiling your registration documentations.
 

 

Business Support

bizAngels recommends that each business have business development support while going through an investment ready process in your business. This may be a new process for you and your business and is your one chance to present well to potential investors. Potential investors do not invest in your passion and dream unless they see financial outcomes that are based on solid market assessment and good business practices. There may be areas you need to improve before you can seek capital investment, or you may be advised to declare current weaknesses within the business.  Don't forget most angel investors have good business skills to contribute to the business.
 

As this is a specialist process, we recommend you choose development support that is proficient in the area of investment ready activities such as Escalator. If you are unsure who to go to for specialist support please contact us. bizAngels has a number of options available to refer you to.
 

The Escalator programme is run nationally to prepare businesses for capital and investment i.e. Escalator www.escalator.co.nz  Like any free government programme, not all are eligible for this service. Check to see if you are eligible or contact us to discuss your options.  Escalator also run “Guide to Raising Capital” – “Elevator Pitching” workshops.  For dates of these workshops, click here>>

 

Shareholding Changes

Capital investment means shareholding changes. More often than not these changes are significant, not just 5-10% of the shares.  You the business owner will reduce your percentage shareholding. This means you and any other current co-owners may reduce shareholding to the point you are no longer the only ones in control of the business. Think carefully about the governance of your business before you embark on this path.  If you cannot face this, this is not a prospect for you.

 

Service Charges

There are service charges for the utilisation of this service. The charges are based on a successful registration then match and investment into the business. The charges will be due the day the business is registered and then again when the investment process is completed. Remember to take this into account when raising capital. See the current rates download sheet.
 

Dependant on who is the business facilitator, bizAngels may invoice your business directly or the business facilitator will invoice you directly at that point. To avoid double charges to the business don't start the full registration process without discussing the charging process with us. We will not accept registration unless there is an agreed mandate set up between your business, bizAngels and the business development facilitator. bizAngels already has agreement and arrangements with some of the business development facilitators.

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