Two thirds of international entrepreneurs believe Brexit will have a negative effect on the British tech industry, with a quarter not expecting to invest in the British tech company in the next year, a survey from Global Tech Advocates has found.
The survey polled 263 entrepreneurs from the Global Tech Advocates community, with participants from Shanghai, Singapore, and San Francisco. The answers were definitely revealing: 55% of overseas entrepreneurs aren't considering expanding their businesses to the UK as a direct result of Brexit, while 31% report that Brexit has negatively affected the likelihood of them hiring British tech talent for their companies. (See Is Brexit Just Another Problem to Solve? Russ Shaw Weighs In.)
While these statistics are somewhat unsettling for those in the UK tech community, there is a glimmer of hope: 87% of respondents felt that London remains open to collaboration with other global tech hubs, which suggests that the UK capital will continue to keep it's enviable status as a leading tech hub even after Brexit.
The general view is Britain, and London, will suffer from post-Brexit fallout. But how will it affect the tech industry? (Image: Dylan-Nolte, Unsplash)
Russ Shaw, founder of Tech London Advocates & Global Tech Advocates, commented: "International connections have always been the staple of British business, and now more than ever, they should be used to fuel growth. We must double down to build stronger relations and ties with global tech hubs and communities -- if we fail on this front we risk turning our back on new waves of investment, talent and innovation."