Our appetite for TV business programmes seems insatiable. But why do we watch with fascination as budding entrepreneurs' hopes are dashed? Are we simply a nation of sadists, taking pleasure in watching people struggle and often fail? Well, I think not. The UK has always been the home of great ideas and inventions and we're not afraid to be self-employed. However, people want the chance to turn their ideas into a business themselves, rather than see them taken up by a large company with the funds to make the idea a reality. They also want help from successful mentors.

The traditional sources of start-up funds are becoming increasingly thin on the ground. Interest rates are rising, putting pressure on the 18 per cent of companies who fund themselves through credit cards. Capital from friends and family is increasingly precious, and not everyone has access to benevolent networks. Bank credit committees are tightening their reins, indeed, in most cases the doors are firmly shut if there is no asset-backed security to offer. And venture capitalists are really only interested in sums of several million pounds or above.

Business angels are becoming an increasingly attractive option, with the added benefit of their practical help and experienced advice. Business angels are often successful entrepreneurs themselves, or senior managers from industry. A common thread is that they are often looking to invest in ambitious, fast-growth businesses for a medium-term return, and the numbers of business angels around seem to be increasing.

The Sunday Times Rich List has, for the first time, more self-made members than those with "old" money, and many of them are ready to invest in the next generation of entrepreneurs. People who didn't previously know what being a business angel involved are now becoming increasingly aware of the role angels can play. According to Colin Mason, Professor of Entrepreneurship at Strathclyde University, there are already over 100,000 business angels in the UK, with access to £12bn in equity, investing up to £3bn annually.

Political parties value the role of entrepreneurs and view them as the backbone of economic growth. However, there are only so many grants available, and the government is encouraging more business angels to invest in the future of the economy, with highly attractive tax incentives if they do so.

So what can business angels bring to the table? Well, to start with: credibility and leverage. Having a business angel involved can influence other financiers and unlock grants and bank finance. There is also the benefit of long-term finance with no immediate repayment burden. If the company succeeds, the business angel will share in this growth. If it fails then the business angel will lose as well as the business. An angel's business skills and experience are also vital. Business angels tend to invest in sectors they understand and they bring additional benefits, such as access to rich support networks. Finally, they bring a stronger balance sheet-for the simple reason that angel finance is equity, not debt finance.

So, with this new breed of business angels, and increasing demand from businesses, there needs to be a more efficient way to connect the two.
I attempted to raise money for Angels Den through such means and found the process both stuffy and costly. I could not understand why it had to be so expensive-the more jargon and small print I saw, the more suspicious I became. Plus, it was time consuming to contact each business angel group individually.

I decided to stop moaning about the problem and instead tried to fix it. The result, after many months and a large amount of (partly business angel) capital invested, was Angels Den, a website connecting entrepreneurs with business angels. For a flat fee, entrepreneurs are guided through a simple process, in plain English, and can put their business ideas into a structured template. Angels and angel groups have to sign confidentiality agreements and certify their status, but can then search the database free of charge, using their own criteria.

I welcome the transition of the role of the business angel from armchair entertainment to a potential route to success for growing businesses.

Bill Morrow is the founder of Angels Den (www.angelsden.co.uk)

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