What will be the effect of brexit on startups, growing and flourishing companies (technology and telecom) based in UK
Is Brexit going to harm growing and thriving companies in UK? Watch
- Thread Starter
- 22-07-2016 12:37
- 22-07-2016 12:42
It is too hard to be so specific. Companies that export generally are benefiting from a weak pound. Companies buying in raw materials will be struggling for the same reason. There is a big question mark for companies relying on trade with the EU. Tech companies are worried about immigration controls cutting off the vitally needed supply of skilled workers. I think it is probably too early to say, but there are lots of unknowns to sort out.
- 22-07-2016 12:45
It's going to be harder to set up at the moment, what with getting equipment and workers. A lot of small companies used foreign cheap labour and with the pound low it will be more expensive to get equipment and material over seas. If everything can be sourced from the UK then it won't be too bad, and if your target market in only people in the UK as well it will be ok, but things aren't looking so great for small businesses (atleast in the short term)