Startups Having Difficulties After Brexit

Brexit is expected to negatively affect startups that operate in England and other countries as well.

It’s worth noting that, 75% of startups in England see tough times coming after the Brexit. Analysts believe that the costs of technology in England will be significantly reduced after Brexit, which is expected to affect both the market and investments.

In a survey conducted by Tech UK, a body in England which receives government funding, it appeared that 60% of respondents are concerned about the future in the field of technology in the UK. Especially because of the Brexit, startups seem to have more difficulties due to their small number of employees and low budgets.

All this seems to come at a time of widespread economic crisis in the area of technology, since, according to data published by the IDC, after investments in technology in Europe rose in 2015, they are expected to remain flat during 2016, at €707 billion. As for the UK market, it is estimated that there will be a slight increase of 1.3% in 2016, while in 2017 it is predicted that there will be no economic growth in the area of ​​technology.

[Source: ZDNet]