Posted on November 29, 2016 by staff

Brexit tech concerns could be luck of the Irish


Is there a danger that UK tech businesses will defect to Ireland when Brexit is finally triggered?

Niamh Bushnell, Dublin’s commissioner for start-ups, has been carrying out a charm offensive.

Bushnell believes UK companies can benefit from opening an operation in Ireland that gives them access to the EU.

She says that in the days following the vote a huge amount of queries were received from companies interested in a potential move to Ireland.

“It’s naïve to think that people are going to uproot from a market that has huge opportunities for them,” Bushnell told BusinessCloud.

“The market is not going anywhere, even if the economy does suffer short to medium term. The UK is still an economic powerhouse.

“Companies will move for a reason – maybe their VC is based here.

“They’re not going to move because they are afraid it is going to cost them a couple of euros more to get a visa or wait an extra month to get talent in.

“They move for big reasons.”

Per Strömbäck, spokesman for the Swedish Games Industry, offers another European view of Brexit – one filled with uncertainty for the future.

“We don’t see anything positive about it, really,” he said.

“Many Swedish companies have British employees, will they be able to stay and work as now?

“A lot of the investors are British, what happens with them? Will we see less access to capital for Swedish companies as a result of Brexit?

“We have members with HQs and mother companies in the UK; we rely on UK recruiters, UK media, suppliers and many other aspects. All of this will be more difficult when the UK leaves the EU.

“The UK is Sweden’s main competitor as the number one game development country in Europe, but I don’t think we will benefit from its departure from the EU.

“It’s going to hurt the Swedish games industry more than it helps.”