Every Wednesday we dig into the latest fintech updates from across the UK. This week, we hear about the top 10 cities receiving small business funding and Jumio celebrates record sales success.
AIM ISA celebrates its 9th anniversary
August 5th target The ISA is celebrating its ninth anniversary since its introduction in 2013 by the former Secretary of the Treasury. George Osborne.
Osborne aimed to boost the economy by allowing AIM shares to be held in the ISA and encouraging investment in AIM companies while the UK emerged from recession. This was seen as a success and supported many fast-growing companies employing vast numbers of staff.
These ISAs include attractive benefits for investors with access to over 800 investment opportunities while also allowing the ISAs to be passed on to heirs without inheritance tax.
In 2019, AIM companies contributed 33.5 billion to the UK economy, supporting over 430,000 jobs. Jobs created by AIM firms are on average more productive, with a gross value added of 77,700 per position filled, compared to the national average of 56,387.
UK Financial Institutions Announce Top 10 SME Funding Cities
income-based financial provider 365 Business Finance, named the top 10 UK cities for small business financing and growth. It also details the most funded small business sector in each of these hotspots.
The top 10 cities are London, Manchester, Newcastle, Birmingham, Sheffield, Canterbury, Brighton, Edinburgh, Chelmsford and Tonbridge.
According to recent data, retail receives the most funds in London and Manchester. In Newcastle and Canterbury, on the other hand, restaurants make the most money. Food retail, in particular, appears to be the best funded small business sector in the country.
Andrew Raffaery365 Business Finance Managing Director said: It paints a more complete picture of thriving industry sectors and where small businesses are most in need of financial support, whether it’s expansion projects or remodeling related to facilities and marketing. increase. “
Joint InsurTech Acceleration Program Launched to Support Startups
boot accelerator F10 and insurance sector growth initiatives Insurtech Isle of Man Partnered to offer an InsurTech Acceleration Program.
The program, which supports growth-stage InsurTech startups, is open to applications from startups interested in joining. Stakeholders have access to his F10 global network so they can watch sessions on topics important to growing their business. marketing, branding, sales, etc.
Mark Hauser, the head of F10 Europe said: Having worked in this industry myself, I have experienced firsthand the tremendous potential and am convinced that open innovation is the best way to make rapid progress.
We will continue to work with leading insurers and insurtech start-ups to explore and realize relevant use cases. looking forward to it.”
Jumio celebrates best-ever sales quarter
identity provider Jumio posted its best sales quarter since the company was founded in 2010.
Jumio’s “KYX Platform” can authenticate users’ identities and detect suspicious transactions. According to the company’s research, 80% of his users would like to see identity verification measures in place when choosing an online brand.
Robert PrigCEO of Jumio, said: