UK tech industry reacts to Brexit

As the UK awoke this morning -- at least those parts of it that hadn't been glued to the poll results through the early hours -- to find that it had voted to leave the European Union, there was plenty of reaction.

While the pound fell and the stockmarket shuddered, technology companies have been quick to add their take on the news.

Some were keen to highlight the risks of leaving. Matt Hunt, CEO of Apadmi Enterprise, a leading UK app developer says, "The UK and EU are markets that have continued to offer tech businesses huge growth potential and the international business community has been overwhelmingly supportive of our industry. Technology does not observe boundaries and we have been lucky to enjoy an inspiring array of tech from the UK, Europe and even further afield, which we have been able to access and use for the benefit of our customers. The UK tech industry has been in a strong position and the only limitations we’ve faced to do business has been our own ability. With the impending Brexit, there is now a high level of risk and uncertainty over our future and questions are being asked as to how will we be able to build on our success and further grow without the support of the EU".

Others highlighted Brexit's potential security risks. Javvad Malik, security advocate at AlienVault, says, "Rather than offering an escape from the EU's red tape, most people believe that they will still have to negotiate their way through complex legislation such as GDPR when Britain leaves the EU. But what's more, a significant proportion of those surveyed believe that being part of the EU actually benefits them and their work. This is especially true of the industry's attitudes towards intelligence sharing between EU states. Cyber attackers pay no attention to geographical boundaries, transcending borders and jurisdictions to maximize malicious effect. The truth is that we can provide a stronger and more robust defense against emerging threats by working together and sharing information".

The Scots, of course don't share the rest of the UK's enthusiasm for leaving. Ed Molyneux, CEO and co-founder of FreeAgent, a tech firm based in Edinburgh, thinks, "This result is a big blow to the UK's micro-business sector and I think that a lot of people will be very concerned about what the future will hold".

He called on the government to be clear on what will happen next. "I would therefore urge the government to be as swift as possible in providing updates about how these discussions are progressing, and give every business owners in the UK clear, up-to-date information about what the effects of Brexit will be on important issues such as trade and tax. The last thing the business sector needs is to be kept in the dark".

There are some though that take a more postive view. "Here at Ruler Analytics we are disappointed in the vote to leave the EU. However, the digital marketing sector is one of the most resilient and growing sectors of recent times. Whilst there are a number of negatives to leaving the EU there are also many positives for an industry that has no borders," Says Daniel Reilly, co-founder at Ruler Analytics, a visitor level marketing analytics and call tracking solution provider. "We certainly don't think this change will affect the ability to recruit skilled labour from abroad, nor do we believe this will cause a shortage of jobs within a constantly developing and evolving market place. We are a serviced-based financial economy, which is driven by a great infrastructure of both education and training, and this has allowed us to be at the forefront of digital, and will continue to do so for many years to come".

Businesses in countries outside the EU also identified positives in the decision. CP Gurnani, CEO and MD of India's Tech Mahindra IT services company says, "There remains a possibility that future treaties with EU may not be as favourable for Britain. The remaining nations may also grow slightly insular towards Britain, which can be viewed as an added opportunity for India, given the size of our economy, demographic dividend, the quality of talent available and so on".

Do you believe Brexit have a positive or negative effect on your business? Let us know in the comments.

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