Founded by Royal Charter in 1965, the CBI is a non-profit business organisation that speaks on behalf of 190,000 UK businesses of all sizes and from across all sectors, employing nearly 7 million people between them. That’s about one third of the private workforce. This number is made up of both direct members and our trade association members. We do this because we are a confederation and both classes of membership are equally important to us.
The CBI’s mission is to promote the conditions in which businesses of all sizes and sectors in the UK can compete and prosper for the benefit of all. With offices around the UK (including in Scotland, Wales and Northern Ireland) and representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.
All too often many businesses think innovation is something other firms do. The CBI aims to address this with Winning with fintech – a campaign to get more non-financial services firms engaged with financial technology (fintech) to help manage their costs, cashflow and drive efficiencies in everyday operations.
Businesses are facing a range of challenges as they come out of the pandemic. From spiralling costs to supply chain challenges against a backdrop of continued uncertainty, managing risk and improving operations is vital for any business that wants to get ahead.
The benefits of fintech stretch far beyond financial services itself. Fintech adoption is growing among consumers, but awareness around fintech solutions for business use cases remains relatively low.
The CBI wants to change that. Within the CBI’s economic vision Seize the Moment, the UK’s fintech sector has been identified as a key enabler of business innovation, notably for SME businesses which account for 99.9% of the total businesses in the UK.