Startups and London in the wake of Brexit

Despite concerns over the impact of Brexit, many startups are not willing to give up on London and its rich business networks and strong financial flows. At the same time, Brexit is making it difficult for many startups to reach their full potential in the United Kingdom (UK), and many are also choosing to take their startups elsewhere amid the uncertainty of what Brexit’s full impact will be. It seems the that most pragmatic are planning for the future by hedging their bets and operating both inside and outside the UK. For example, some are maintaining their operations in the UK while also expanding outside of it as well. Still others seem relatively unconcerned about the impact of Brexit and are working to break into the UK market from bases in other countries.

It seems that about the only certainty Brexit has brought with it in terms of startups is to make each startup think more carefully about the possible pros and cons of opening a startup in London. Brexit has called into question whether or not London will maintain its distinguished status going forward or if it will slowly cede that status over the coming years. And startups seem torn as to which of these futures they believe will become reality in a post-Brexit world.

Source: www.forbes.com