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An Analysis of Business Angels in Scotland And Poland


  • Michael Danson

    (Paisley Business School, Scotland, UK)

  • Ewa Helinska-Hughes

    (Paisley Business School, Scotland, UK)

  • Stuart Paul

    (Paisley Business School, Scotland, UK)

  • Geoff Whittam

    (Paisley Business School, Scotland, UK)

  • Michael Hughes

    (University of Aberdeen Business School, Aberdeen, Scotland, UK)


Business Angels are private individuals (or syndicates) who supply venture capital to businesses, mainly small start-up firms, in an informal investment market setting. This paper presents a preliminary analysis from the first phase of a research project that explores the emergence of Business Angels in the new EU member states of Central and Eastern Europe. It focuses on case studies conducted in Poland, and examines the role and function of Business Angels in the context of a transition economy.

Suggested Citation

  • Michael Danson & Ewa Helinska-Hughes & Stuart Paul & Geoff Whittam & Michael Hughes, 2006. "An Analysis of Business Angels in Scotland And Poland," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 9(Special C), pages 61-80, December.
  • Handle: RePEc:zag:zirebs:v:9:y:2006:i:sci:p:61-80

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    References listed on IDEAS

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    More about this item


    business angels; venture capital; Scotland; transition economies; Poland; SMEs.;

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes


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