BUSINESS Angels from North Yorkshire are offering the entrepreneurs of the county more than £100 million worth of finance.

Access to the money for small and medium enterprises (SMEs) will be available at the first ever Business Angels Network Investor Fair in Leeds next month (June 15).

Details of a wide range of SMEs seeking capital will be also be available to existing and prospective business investors at the evening event at the Hilton Hotel, Garforth, and more than 20 companies are being offered opportunities to exhibit.

The fair, organised by Business Angels Network (West, North Yorkshire & Humber) is the first in the region to provide a confidential forum for businesses seeking capital to meet potential investors.

It is also an chance for those who want to become Business Angels by wisely using their spare cash to meet companies seeking investment.

Business Angels, often described as informal venture capitalists, are usually experienced business people seeking a new challenge who are able to invest both money and expertise in suitable businesses in return for an equity share. Investments generally range between £10,000 and £250,000 depending upon the opportunity.

It is a funding method that has become increasingly popular among SMEs because they gain access to business expertise, often from 'Angels' with knowledge of their own sector, as well as a cash injection to progress their enterprise.

Ken Ormerod, the manager of the regional Business Angels Network said: "Access to funding is the most important issue for SMEs in our region. Funding and access to expertise as provided by Business Angels is a real bonus and hugely satisfying for both parties.

"Our first ever Investor Fair is part of our policy of making the service as accessible as possible - a way of bringing investors and companies together while maintaining the essential element of confidentiality which all parties require."

How to access funding is the most common request to Business Links throughout the region from smaller businesses with growth ambitions and potential.

John Guy, a senior specialist adviser with Business Link North Yorkshire and a member of the Business Angels Steering Group, said: "This is a major opportunity for small businesses in our part of the world. Anyone who wants to make proposals to business angels can contact me at 01904 686000."