Prosper, the zero-fee investment and savings platform, today announced a strategic partnership with Ideas Community, home of the UK StartUp Awards, to transform entrepreneurs' personal finances.

The partnership launches with a survey of 900+ StartUp Awards 2024 finalists which reveals that while these entrepreneurs lead some of the UK's fastest-growing companies, 75% haven’t developed a more holistic approach to their wealth strategies that extend beyond their businesses.

The survey highlights an interesting paradox: while entrepreneurs scrutinise every business expense, they often overlook the compounding costs in their personal finances. The same founder who would negotiate tenaciously over a 2% supplier increase might unknowingly pay investment fees of 1-2% annually on their personal wealth—fees that can consume up to 45% of potential returns over 30 years. This blind spot creates a lucrative opportunity for traditional wealth managers and banks to step in.

"Entrepreneurs often pour everything into their businesses—time, energy, capital—while their own financial future becomes an afterthought," said Francesca James, Founder of Ideas Community. "Through this first-of-its-kind partnership with Prosper, we're challenging founders to apply the same strategic thinking to their personal finances that drives their business success."

The survey found that nearly half (47%) of entrepreneurs have only basic financial plans with limited investment activity, while 18% have no plan but want guidance. In parallel, 11% of award-nominated founders aren't prioritising personal financial planning at all.

Nick Perrett, CEO and Founder of Prosper, said: "Wealth isn't just about money. It encompasses your health, relationships, time freedom, and overall wellbeing. We created Prosper after I discovered I was losing over £2,400 annually in hidden pension fees on just one of my many workplace pensions, but the problem goes deeper than just costs. We want entrepreneurs to have control over where their money goes and how it aligns with their values. Our partnership with Ideas Community brings this broader wealth conversation into the entrepreneurial journey when it matters most – while founders are creating impact, not just after they exit."

Unlike traditional financial literacy initiatives that focus solely on business finances, this partnership introduces a new Wealth Health Scorecard – an interactive tool helping founders assess their personal financial progress and identify specific action steps. The partnership will deliver thoughtful financial guidance throughout 2025 at Ideas Community events, including the Great British Entrepreneur Awards and Ideas Fest, the "Glastonbury of business" that attracts over 5,000 entrepreneurs annually.

Ricky Knox, Chairman of Prosper and serial entrepreneur who has founded eight companies including Times Tech 100 UK fastest growing company, Tandem Bank, added: "Having built multiple businesses, I've seen too many founders reach milestones without considering what wealth truly means to them. It's not always about the Rolex or the BMW – it's about creating the life you want. This partnership addresses a genuine opportunity in the entrepreneurial journey to think more holistically about success."