Equity for Punks: A Team Effort
Scottish Enterprise and Europe's first eIPO.
You can invest in BrewDog in www.equityforpunks.com
With the Equity for Punks BrewDog share offer period drawing near to a close, we feel we should acknowledge the help and support of Scottish Enterprise in enabling this project to go ahead.
Equity for Punks was a completely ground-breaking project and concept, this was the first time any company in Europe had attempted to raise money via an online share offering. It used ground-breaking technology and the online medium to do something completely new and innovative. In addition Equity for Punks pioneers a new type of business model, a business model where the people who enjoy the product are given a chance to own part of the company and have a say in how the company is run; a business model where anyone can buy into a high-growth company at a very early stage and benefit financially from the businesses future growth.
In setting up the project we incurred significant expense. Any share offering to the public is strictly controlled by the Financial Services Authority and needs their approval to go ahead. In addition the prospectus had to be prepared by an authorised legal team and every statement therein had to be tested for due diligence and verified. Furthermore all our accounts and financial information had to undergo a rigorous audit to the same standard of any larger PLC. Needless to say, despite us doing all we could to control costs, the exercise was going to be relatively expensive. During the planning stage, it looked unlikely the project would go ahead as our fledgling business could not afford the mandatory costs involved with a public share offering.
However, Equity for Punks had an eleventh hour reprieve and found its saviour as Scottish Enterprise agreed to help us with part of the costs which enabled the share offering to proceed. Without their help, Equity for Punks and the BrewDog share offering would have been nothing more than an another dream which ended up in our waste paper bin. We are eternally grateful for the pivotal role they played in enabling a ground-breaking and now successful project to proceed, their input and support turned Equity for Punks into a reality.
The impact which Scottish Enterprise and the work they do with small businesses all over Scotland cannot be underestimated during this tough economic time, their support is invaluable and really makes a difference. It is without question that Scottish Enterprise will spearhead the economic recovery as Scotland emerges from the recession, their help will ensure it emerges stronger than ever.
Invest in BrewDog and join the revolution at www.equityforpunks.com
Posted in - business-for-punks
- Good on you Scottish Enterprise, getting behind some home grown talent! When do we shareholders start to see the scheme kick off properly? How about a shareholders discount at the new pub? Whens it opening anyway? PH09.02.2010
- As a new BrewDog shareholder I thank Scottish Enterprise for their help in making this a reality! Becky J08.02.2010
- Awesome Guys. Brilliant to see Scottish Enterprise doing so much to help small businesses grow and innovate. Adrian08.02.2010