Posted on June 24, 2016 by staff

Brexit is an “opportunity” for entrepreneurs


Entrepreneurial Spark boss Jim Duffy, a key voice in the UK’s technology sector, has said Brexit is an “opportunity” for the nation’s entrepreneurs.

Duffy founded Entrepreneurial Spark in Glasgow in 2012 and has since opened several other ‘Hatcheries’ to incubate fledgling businesses, including one in Manchester this year.

He said the initial impact of leaving the European Union on start-ups will be offset by opportunity down the line.

“True entrepreneurs are opportunity hungry and with change comes that opportunity,” he said.

“In our global economy, UK businesses are trading across the world, not just in Europe, and exiting the EU is unlikely to reduce trading opportunities in the long term.

“Entrepreneurs will simply just get on with it and what’s important today is that they continue to focus on planning to ensure that they can navigate any turbulence in the coming days and weeks, while exploiting bigger opportunities in the months and years to come.

“We’re told that the UK now has full control of its future, therefore what better place for start-ups to thrive? Time will tell.

“However, our businesses constantly tell us of the pain caused by EU-driven red tape, so this removal, albeit in a lapsed time, will be welcomed by entrepreneurs across the country.”

He added that Scotland, where the majority of referendum voters wanted to remain in the EU, will now probably seek to exit the UK.

“Today’s news also opens huge opportunities for the SNP to relook at Scotland’s position in the wider UK, being entrepreneurial in its approach to a further independence referendum,” he said.

“The mind boggles where this could stop with renewed calls for a united Ireland and the Prime Minister expediting his exit, but, speaking from an entrepreneurial mindset perspective and sensing opportunity, there’s scope for a variety of stakeholders to seize the initiative.”