What Does Brexit Mean For The UK Web Industry?
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As the Brexit arguments rage on in the UK, there are only a few certainties. First of all, it seems as if the now-famous Article 50 will be triggered in March 2017. And that means that, whatever else happens, the UK will exit the EU exactly two years from then. Clearly, there are deals still to be struck, and many negotiations to take place. But what is the overall picture for the UK’s thriving web industry? We’re going to take a closer look at the now inevitable impact of Brexit on the UK’s web professionals.
Moving on
Many UK web companies have a lot of interest in Europe, whether it’s connections with larger enterprises or supplying services to small companies. It’s no surprise that there are plenty of businesses with this Euro connection who are considering whether it’s time to ship out of the UK. The European market is huge for UK web companies, who have managed to get ahead of virtually every other country – the UK is the undisputed eCommerce giant of Europe, for example. While European enterprises will be rubbing their hands with glee, any UK business who gets most of their business from abroad will be seriously thinking of shipping out.
Plenty of opportunities
Due to the weaker pound against the Euro, it’s less expensive for foreign clients to use UK firms. So, when it’s a choice between an experienced Magento agency from the UK and a more expensive, less-established alternative from mainland Europe, there’s only one clear winner. However, the future is a lot more uncertain than it is right now. When Brexit eventually happens, no one can say with any conviction that the pound will still be cheaper – or that the UK will still be home to hundreds of first-class tech companies.
Difficulties in hiring
While the phrase ‘British jobs for British people’ is one of the biggest buzzwords around Brexit, it’s going to be problematic when the UK leaves the EU. The simple fact is that the UK web industry is full of foreign workers, of all descriptions. In fact, much like the NHS, the tech industry is reliant on them. And, if being outside the EU makes it harder to hire this exceptional talent, no one would be hugely surprised if there was a slight stagnation.
Smaller budgets
One thing about Brexit that economists are clear on is that British people will all lose money. While some are hopeful that it will only be temporary, it could take years – maybe even decades – to level out again. And when there is less money available, people – and businesses – start tightening their belts. Inevitably, this will see a dramatic increase in companies reviewing their budgets. And, as everyone knows, the first thing that will get the chop is areas such as marketing and advertising – which will spell trouble to many online enterprises.
Do you have a web-based business? How do you feel about Brexit? Are you worried, or do you see it as a great opportunity to develop your business? Let us know your thoughts in the comments section below!
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