When it comes to managing investors and shareholders: ‘Don’t stay silent’

At the Show Me The Money event in Cork on Thursday 22nd February, a room of eager entrepreneurs came to meet multiple funders and support providers and hear the secrets of how to raise and manage money. ?

Event highlights: ?

• It was great to see the Irish small business eco-system in one room! From the three major banks to angels, the Local Enterprise Office, accountants and financial readiness experts, the event aimed to offer founders a ‘one stop shop’ of connections to raising funds. ?
• Tony Foote , co-founder of fast-growing whiskey brand, Foxes Bow (which I can vouch tastes great!) kicked off the event with sound advice: ‘don’t stay silent’ when it comes to communicating with investors. Tony knows this from his experience of having raised 1 million+ euro from crowdfunding from over 600 shareholders who receive regular communications and company updates. ‘Our investors have not only financially backed us, they have become our brand ambassadors’ said Tony. ?
• Evelyn Moynihan , CEO of well-established Kilkenny Group, shared the importance of having financial advice and support from the get-go by finding a trusted accountant, and how money can be managed by building brand loyalty and sales with existing customers.
• ‘Don’t think what you will have to give up, think about what you will gain’ was John Stapleton ’s response to a question from the audience on how much equity should be surrendered when raising external finance. For more advice from John (who is a serially successful entrepreneur turned investor) watch this online event. ?
• Another angel investor on the panel was @donaghkiernan who represents Ireland’s Boole Investment Syndicate. Donagh and David Swinburne of Mazars offered that early stage founders should not focus too much on valuation at the outset, rather on building a plan and executing with focus. ?
• Paul Christie shared the supports and lending products on offer from (SBCI) Strategic Banking Corporation of Ireland including the Ukraine Credit Guarantee Scheme and Growth and Sustainability Loan Scheme.
• Des McCarthy of Microfinance Ireland is a strong and long supporter of Show Me The Money events and his organisation exists to support businesses who cannot secure bank finance. Microfinance Ireland has a particular focus in 2024 on supporting under-represented founders including female founders, young people, 50+, migrants, and disabled entrepreneurs. ?

Post the panels, discussion continued as attendees honed their pitching practice with multiple funders: AIB PTSB Bibby Financial Services and more.

The final event in the series takes place in Letterkenny on 21st March. Sign up here for your free place. ?

With thanks to SBCI and BPFI for support of the Access to Finance series. ?