Financial technology: grow your business in the UK
- strong demand from a sophisticated market
- an excellent IT and transport infrastructure
- one of the largest pools of financial and entrepreneurial talent in the world
UK financial technology: at a glance
In 2015, the fintech sector had a turnover of about 6.6 billion GBP in revenue and attracted about 524 million GBP in investment. Across the UK 40,000 people are employed and the sector attracts more fintech investment and talent than anywhere else in Europe.
The 4 strongest performing areas are:
- payments, which currently attract a wide range of innovators
- platforms, particularly peer-to-peer lending, trading, personal wealth management and aggregators
- software for risk management, payments, asset management, capital markets, insurance and accounting
- data analytics such as credit reference, capital markets and insurance
The demand for fintech is likely to increase over the coming years, with London’s strengths in the financial sector
Access to fintech bridges
The FinTech Bridge Program
The UK government offers targeted support to FinTech businesses from Australia, Hong Kong, China, Singapore and South Korea wishing to expand their business into, or set up in, the UK market. The Program also supports UK based FinTech companies who wish to establish additional operations in one of the five Bridge Markets.
FinTech Bridges are agreements between the UK and another country and can help FinTech companies by:
- facilitating introductions to key participants in the ecosystem
- helping them to approach regulators to discuss licensing and local regulations
- providing connections to professional services firms and practical support for setting up business operations
If you are a business from Australia, Hong Kong, China, Singapore, South Korea or the UK and you want to learn more or get involved in the FinTech Bridge Program then contact us for more information.
UK government support
The financial services industry is supported in the UK by its regulator the Financial Conduct Authority (FCA). The regulators operate independently of the UK government to regulate financial firms providing services to consumers and maintain the integrity of the UK’s financial markets.
The UK government offers a range of tax incentives and programmes to promote competition and innovation including:
- the Enterprise Investment Scheme
- the Seed Enterprise Investment Scheme
- Entrepreneurs’ Relief
- research and development tax credits
- the Patent Box scheme, where companies pay a lower rate of Corporation Tax on profits earned from their patented innovations
The government also has up to 50 billion GBP available to support finance and insurance for supplies from within the UK to buyers outside the UK. This support takes the form of guarantees, insurance and loans issued by its export credit agency, UK Export Finance.
Support for international female Fintech entrepreneurs
If you are a female-founded Fintech business you can access a network of specialist support to help you grow your business in the UK.
With our network you can:
- connect with like-minded women who can mentor you
- get the opportunity to connect with investors who understand the challenges that women encounter when raising money
- get the opportunity to apply for an accelerator programme and access to coaching, workshops, free office space and support from established Fintech accelerators
To submit your interest, get in contact with us.
We can help you grow your business in the UK
Whether you’ve already decided to grow your business here or you’re just starting your research, the UK government can help you make the right decision.
Research your industry
You should research your market to help you decide if the UK is the best place for your business. Contact our Investment Services Team to get market research and other expert help and advice.
Want to move your business to the UK?
You’ll need to follow several steps before moving to the UK, including applying for visas and finding the ideal location for your business. Read our UK setup guide.
The UK government can give you free help and support every step of the way. Contact us to find out more.