Angel investors are the lifeblood of many small businesses when they are first starting out, but how do you find them?

Start with networking:

The best way is through networking in your community. Seek out the right connections to potential investors by attending investment forums, small-business education programs, business-plan competitions and other events. It helps to stay local. With some exceptions, angels tend to invest close to home, as they want to coach you and keep tabs on their investment.

It’s always a good idea to talk to other entrepreneurs who have gotten angel or venture backing and who can steer you in the right direction. Ask attorneys or accountants who deal in the private equity field for referrals. Research indicates that angels are more likely to invest in opportunities that have been recommended to them.

Get more tips on finding angel investors at WSJ.com.