Brexit has left the UKs technology industry reassessing its position, with major firms putting expansion plans on hold as they consider a move to a continental location.
Britains financial technology sector is particularly hard-hit, with the prospect of losing access to European markets an unappealing one. Fintech has long been one of the UKs most promising growth areas, in part due to Londons position as the financial capital of Europe.
Taavet Hinrikus, the chief executive and co-founder of foreign exchange service TransferWise, said that the industry will have to wait and see to find out the long-term effect.
This is likely to affect regulation and the movement of talent, two massive issues for business. The two main benefits of being part of the EU are access to talent because of the free movement of labour and the fact that you can passport regulation so if youre regulated in the UK, youre regulated across the EU. We dont know whats going to happen with either of those.
Källa: British tech firms eye relocation after Brexit vote | Technology | The Guardian
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