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What will be the impact of Brexit on the tech industry?

What will be the impact of Brexit on the tech industry?

When looking at the tech hubs of Europe, there’s no doubt that the UK is right up there with the very best, if not the number 1 tech hub in the EU. However, the recent decision to leave the EU has already started to cause trouble within tech industry.

The UK was the place to be regarding new and exciting tech roles, however, more professionals and innovators are choosing to stay in mainland Europe, particularly Berlin and Amsterdam. They are worried that if they make a commitment to the UK job sector now, they may have issues once Brexit is complete.

How has Brexit already damaged the UK tech sector?

In a recent survey from insolvency practitioners MGJL, the UK’s tech sector came out on top for industries that have seen the biggest impact of Brexit so far.

Almost 47% of tech companies have already noticed a shift in the landscape and a further 29% of the tech businesses surveyed said that they predict a negative impact once Brexit has been completed.

With more tech professionals choosing to pass over the UK when it comes to new opportunities, it could see a huge loss of skill and innovation within the UK sector.

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What will this mean for our tech industry?

With less talent filtering through from the rest of Europe, this could mean that we start to fall behind compared to other tech hubs.

With so much uncertainty surrounding the residency of those here on a working visa, the UK is becoming increasingly unpopular with those looking to break into a thriving technology community.

As a result, development and advancements may slow down and we could face being overtaken by other tech hubs within Europe.

What will happen after Brexit?  

Like many things, what will happen after Brexit is still unknown. With predictions that our tech sector will start to decline and slow down could be a strong possibility, seeing cities like Berlin overtake London as the tech capital of Europe.

Although the UK have thriving tech hubs throughout the country, from Manchester to London and beyond, this industry in particular relies on new and fresh talent. Constant changes and innovations are being made and it can be difficult for even highly experienced workers to keep up with the ever changing landscape.

So what can we do to help preserve our economy and more specifically, our tech sector? By encouraging those who are considering other areas of Europe to invest their time and careers in the UK. If we can guarantee that european workers have a future in the UK, then our tech sector will also have a strong and promising future.