Demystifying Start-up Finance: Free one-to-one advisory sessions with a business expert

09 June 2008

• Essential tips and advice on funding sources, preparing for pitches and who’s best for your business idea

• Learn from an experienced entrepreneur and ex investment banker

You have the idea and the commitment but do you know to pitch your business plan to a venture capitalist, approach private equity firms or just walk in to your high-street bank? Securing finance is often the biggest hurdle for many start-ups, due to a lack of information and impartial advice. The British Library Business & IP Centre's new 'Ask an Expert' sessions, launched this week, will guide aspiring entrepreneurs to the type of investment they need and help them prepare for the all-important pitch, busting some typical finance myths and jargon along the way.

CBI Entrepreneur of the Future 2005 and CEO of Workology, Sam Gyimah, is the British Library’s new business expert, on hand to offer one-to-one tailored advice. Trained as an investment banker Sam knows the world of banking inside and out but having steered a number of start-ups through the good and the bad times he also understands the issues all budding entrepreneurs have to battle with.

Sam Gyimah says: "My rationale for these advisory sessions is that finance is a business issue that every start-up faces. Entrepreneurs particularly within the creative/service sectors feel that finance is a bigger obstacle than it should be. With my experience from investment banking, having raised equity and debt capital myself and worked in small businesses for the last 5 years, I hope I have something practical to offer."

Gaby Rose, British Library Business Engagement Manager, says: "The one thing all of our users want to know more about is finance. The need for information and advice is huge out there and these 'Ask an Expert' sessions with Sam Gyimah are one way in which the Business & IP Centre tries to respond to that need and help as many would-be entrepreneurs as possible. We are very excited that Sam has agreed to join us and would urge anyone seriously seeking finance to apply for a session."

Sam started his career at Goldman Sachs where he worked in the Mergers and Acquisitions and Equities Divisions. At Goldman Sachs Sam worked on some of the largest mergers in the UK, including the £100 billion merger of Glaxo Welcome and Smithkline Beecham.

At 26, Sam left Goldman Sachs and persuaded his bosses to back his first venture. Within three years he had 70 staff and a turnover of £10 million.

Sam launched his second company in March 2008, workology.com, an online community to help professionals who want to take control of the way they work. A number of partners from Goldman Sachs were keen to follow Sam and are now supporting Workology.

The first of Sam's 'Ask an Expert' sessions will be held on Thursday 12 June. New dates can be found on the British Library's Business & IP Centre website www.bl.uk/bipc under 'Events and Workshops'; for details about applying for a session please see www.bl.uk/bipc/ask.html.

For interviews with Sam Gyimah and further information please contact: British Library Press Office Suvi Kankainen telephone + 44 (0)207412 7105, email: suvi.kankainen@bl.uk or Lawrence Christensen telephone +44 (0)20 7412 7114, email: Lawrence.christensen@bl.uk

Notes to Editors

The British Library is the national library of the United Kingdom. It provides world-class information services to the academic, business, research and scientific communities and offers unparalleled access to the world's largest and most comprehensive research collection. Further information is available on the Library's website at www.bl.uk, which currently receives almost 2 million 'hits' or visits per month.

The British Library Business & IP Centre is supported by the London Development Agency to provide a single access point to support entrepreneurs and SMEs in London to gain access to and exploit existing and new business and IP information, and other relevant content and data, guided by impartial Library information experts and associated partners. The Business & IP Centre has been used by over 30,000 people since it opened in March 2006. An independent survey of 230 users in 2007 showed that it helped create 47 new companies, took a further 48 to start-up and helped create 115 new jobs. Access to the Centre is free, but users need a Reader Pass; for more information visit: www.bl.uk/bipc