Letters: Keeping a hold of our young talent
[Re: UK’s leading fintech bosses call on government to ramp up efforts to overhaul regulation, Feb 21]
Industry body Innovate Finance is right, we absolutely need to see more institutional investors and pension funds being braver in supporting high-growth, growth-stage fintechs.
That being said, the consequences of this lack of available capital are far more serious than the letter sent to the government by fintech bosses highlights.
You can’t underestimate the impact of an entrepreneur selling early at growth stage. Young fintechs are very dependent on the vision and talent of their founders.
Losing a founder early means a great company might fail completely or fall far short of realising its promise.
This has an impact way beyond London missing out on the next hot fintech listing.
Deutsche bank recently found that people are quitting their jobs at the highest rate since 2009.
For the UK’s economy to really recover from coronavirus and reach new heights, we desperately need the next generation of fintechs to succeed so they can give this wave of new business owners, gig economy workers and freelancers the tools they need to unleash their potential.
Kosta Du