How will the EU referendum result impact a thriving entrepreneurial community across the UK?
24 June 2016
This morning we woke to the news that the referendum result is in favour of the UK leaving the EU. I think it goes without saying that it is going to take some time before even the immediate ramifications of this are clear, and many more knowledgeable commentators than me are speaking out on the detail of that. But what is the reaction within the fast growth tech space and how this will impact a thriving entrepreneurial community across the UK?
Tech Nation 2016, the report prepared by Tech City UK and Nesta demonstrated how the digital economy was transforming the UK economic landscape, with 2.8 times faster job growth in the digital tech economy and 75% of digital tech businesses outside London. The UK has demonstrated time and time again that it supports both the infrastructure, the collaboration and the creativity needed for tech entrepreneurship to survive.
It’s no secret that many tech entrepreneurs had come out in favour of Remain. The vast majority of these businesses are global and many have founders from outside the UK who have decided to establish their businesses here for all the opportunities that the UK confers.
The response so far from the Tech Community has been overwhelmingly pragmatic. Julian David from TechUK summed it up with “Today, just as it was yesterday, the UK remains a great place to start, locate and grow a tech business. It is full of talented, skilled and passionate people with the ideas and creativity to make great things happen.”
Tech and entrepreneurship is about innovation, challenge and agility and these attributes, along with the support of an amazing peer ecosystem will guide the following years and months.