As Brexit looms, UK fintech founders are pessimistic about the country’s ability to remain a world leader in the field, according to a survey from the Digital Finance Forum.
Of 50 financial technology company founders surveyed by the Digital Finance Forum, 63% say the UK is the global leader in fintech. However, only 33% are optimistic that this will still be the case in five years.
Brexit uncertainty is a factor in the founders’ concerns about the future, with over two thirds of respondents saying they are worried or extremely worried about the impact of the EU exit on their businesses. At the same time, most are more optimistic about their businesses now than they were at the start of the year.
Linked to Brexit, 61% cite the difficulty of “hiring enough good people” and “hiring engineering and product professionals” as hurdles that threaten to dampen the UK’s fintech dominance. More than a quarter are also worry about a lack of access to capital.