Great British Traits Remain as Financial Services Changes its Course

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Nick Moules
15th October 2012

In a blog for the Telegraph, venture capitalist (and American), Julie Meyer, professed her admiration for the British tradition of networking, which it was doing ‘before it became fashionable’. “Leveraging networks is how successful entrepreneurs build game-changers”, she enthuses.

Meyer goes on to describe her recent positive interactions with a new breed of impressive tech start-ups spawning from east London and how the world is more connected than ever before, so it should be easier to move these exciting businesses forward.

Essentially, she makes an intrinsic link between the power of your network and the availability of finance, which is what the Commonwealth did for British business for years.

Although Meyer doesn’t mention crowdfunding (she talks about an invoice financing model to quicken the flow of capital between businesses), there is a clear connection and opportunity for it to play a part in the next stage of UK financial services.

Peer-to-business lending operates in an arena familiar to those who want to raise cash – tech entrepreneurs for example, and attracts those who know the banks and governments will do little for their cash – nullthat also favours everything online.

Another trait they’ve got in common is a desire to expand their influence.

rebuildingsociety.com’s plan is to connect everyone through its site and turn the experience truly social, more so than had been achieved before. With a platform for borrowers and lenders to create interactive profiles, it injects personality into the otherwise transactional nature of money changing hands.

It might be a bit early to call it crowdfunding 2.0, but we like to think we’re taking things to the logical next stage.

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