A Brexit Perspective from B2EU CEO A. D. Turkic
As indecision casts a grey cloud over the Brexit negotiations, firms on both sides of the Channel are preparing for every possible outcome. The ICT sector in Britain gave initial signs of being able to outperform its foreign competitors, with large firms such as Google, Facebook and Amazon favouring investment in London over other European technology hubs. But smaller firms in the sector now face a more challenging set of circumstances. Concerns about their future access to the pending European Digital Market, as well as possible restrictions on tech workers entering the country, could force many to relocate to the continent. Indeed, difficulty in obtaining work visas in the case of a hard Brexit is a risk to the whole industry and could also force larger companies to move their operations.
British-based firms have already noticed a 50% drop in applications from non-UK candidates since the referendum, according to Hired. A key reason for this is travel. Tech workers tend to city hop on a weekly basis, flitting between London, Berlin, Paris and Lisbon. Any impediment to free movement would be severely detrimental to London’s attractiveness as a tech hub.
B2Brexit can help shine a light in the gathering gloom. With experience helping companies develop their business in Europe as well as worldwide, we guide our clients through legal advisory, public funding and trade challenges as a result of Brexit.