News in brief: fintech, entrepreneurs, Autumn Statement

News in brief
News in brief

European fintech start-ups visit London to pitch ideas to investors

Start-ups from across Europe, including companies from Spain, Portugal, Italy, Israel and Greece, are visiting London from 25 to 26 November for a packed two-day programme. These companies cover emerging technologies such as bockchain technology, robo-advising, and peer-to-peer lending.

During the visit they will have the chance to pitch their business to investors such as Google Ventures, Santander Innoventures and Firestartr.

Chief operating officer of UKTI’s Financial Services Organisation (FSO) Elena Williams said: “We are delighted to see so many companies from across the Mediterranean region represented on this mission.

“With London now the biggest global centre for fintech firms, and with over £300 million worth of investment made in London fintech in the first six months of this year alone, we are confident that the whole delegation will find this visit very productive.”

Autumn Statement: How the BCC thinks the Chancellor should allocate spending

In the wake of the Chancellor’s Autumn Srtatement this week, The British Chambers of Commerce BCC director general John Longworth had this to say about supporting exporters: “We await more details on the government’s future plans for investing in export support. Businesses need in-market support to enable them to break into new markets. Chambers of Commerce both in the UK and overseas are increasingly well placed to provide the help needed for those companies, especially SMEs who wish to trade the world with confidence.”

The BCC has outlined what it believes are the central government spending priorities:

• Delivering fundamentals that are vital to supporting growth and productivity, including infrastructure, skills, and a stable tax system

• Intervening where market failure exists, such as improving regulatory oversight to support growth and accepting a role for the state in addressing structural issues such as access to finance

• Facilitating the development of markets that are vital to our economic future, including critical intervention in science and research, which underpin tomorrow’s business prospects

BCC director general John Longworth said: “For decades, successive governments have created and disbanded a raft of business support programmes, which have either tinkered around the edges or had no impact at all. The limited resources at the Chancellor’s disposal should therefore target the structural issues that are holding us back – in training, infrastructure and finance.

“Businesses up and down the country broadly support the devolution of powers to local areas in England. If done properly, it can drive greater efficiency, accountability, and better results.