The consensus appears to be that those looking to start or expand their business can’t find the necessary financial resources. As is often the case, perception does not equal reality.

Angel investors are only one part of the financing mix. But in a 2008 analysis from the University of New Hampshire’s Center for Venture Research, the State Science & Technology Institute reports that while fewer dollars flowed to entrepreneurs last year, the number of deals held steady.

Some of the highlights:

• Investment fell 26.2% to $19.2 billion
• Deals declined only 2.9% and the number of individual investors actually increased
• Forty-five percent of angel deals involved companies at the seed or start-up phase, an increase from 39% in 2007
• Health care/medical devices and equipment passed software as the most popular investment category
• 10% of companies reviewed by angel investors received funds, continuing a downward trend from 23% acceptance in 2005

The latter figure, however, has little to do with the economy. What it shows, and what should be taken from the numbers, is that the best ideas and organizations can still have their angel aspirations fulfilled. Isn’t that the way it should be?