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By Dave Taylor, Associate Director, Deloitte

I’m sure you’ve heard the terms FinTech, EdTech, HealthTech – the list goes on, becoming more and more prevalent in every day business talk. Thanks to technological advancements, the rise of the smartphone and a movement towards collaborative consumption (the so-called sharing economy), industries are being disrupted by start-up technology businesses that are more efficient, more customer-focused, and fast growing.

Although Yorkshire is fast becoming a hotbed for these growing businesses, the region has so far only produced two so called Unicorns, a privately owned start-up valued at over $1b (a different type of mythical beast).This compares unfavourably to Manchester, Cambridge, Oxford and London. Given our region’s talent pool, diversity and legacy of entrepreneurial spirit, it feels as if there is unrealised potential.

Certainly, there is a whole host of challenges that entrepreneurs will face in looking to get their business off the ground, on both a personal and commercial level, including:

  • The legal structure of their business;
  • How (and how much) to pay themselves and employees;
  • Generating seed/growth funding;
  • Understanding regulatory, tax and compliance requirements;
  • Forming an effective market strategy;
  • Monetising their data/technology effectively; and
  • Expanding into new markets.

And so we have created the Deloitte Exchange to enable local start-ups to connect, learn and grow.

Gathering our experts from across our business, including Consulting, Corporate Finance, Tax and Risk Advisory, we are opening our doors with the aim of helping local entrepreneurs/start-ups scale and grow.

Across the team, we have realised significant value for a large number of tech companies and helped them take the next step on their growth journeys, our advice has helped in a number of ways including:

  • unlocking tax reliefs
  • managing regulatory risk and compliance
  • raising growth funding
  • establishing founder/executive remuneration structures
  • co-developing solutions/go-to-market strategies

We will be hosting open sessions for entrepreneurs to come and discuss their businesses, and seek impartial guidance and support on how they might take the next step, including hopefully one day becoming Yorkshire’s Next Unicorn! Sessions take place on the last Thursday of every month. To find out more contact me at davextaylor@deloitte.co.uk or register your interest here.

Deloitte Exchange will take place at our Deloitte Market Gravity office:
The Walk
3rd Floor, City Exchange
11 Albion Street
LS1 5ES

 

Dave Taylor




 

Dave Taylor

Dave is an Associate Director within the Deloitte Financial Services & Insurance team. Based in Leeds, he leads the Deloitte indirect tax proposition in relation to FinTech businesses, involving the consideration of how technology is disrupting the financial services industry.

Email | LinkedIn

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