Brexit – What now?
Nearly a week after the momentous Brexit vote, we’ve all had time to take stock and consider how our new arrangement with Europe might open up new opportunities.
There’s been a lot of discussion about how Brexit might have a negative impact on our sector. Hyve operate across the EU and offer services throughout the region. As a result, we have looked upon the EU in a positive light and most of us here at Hyve voted to remain.
So, while the current levels of uncertainty are unwelcome for us, as it stands, it’s business as usual. We won’t be making any hasty decisions and the conversations are turning towards what opportunities Brexit might reveal.
The Talent Pool
A big discussion point is talent, recruitment and skills. At Hyve we already have a multinational team that includes people from all over the world, not just the EU. But will access to EU workers be restricted in some way? Will it be harder for EU residents to overcome any new rules or admin?
No-one can provide certainty at the moment. Creating a broader approach to recruitment is a route more businesses may want to follow. The UK also has a very strong talent pool, we just need to innovate in order to build the skills that will support the success of all our businesses. The tech sector is renowned for its focus on innovation, its willingness to adapt, and its ability to overcome new and unexpected challenges.
We’ll see a wide range of changes to law making, regulation and governance. Our sector in particular is subject to a range of EU regulations. Some issues are controversial – in particular, the tax status of non-EU businesses who benefit from the single market, but aren’t seen to have the same tax burden as their competitors here in the UK is a ongoing bone of contention. Brexit has the potential to level the playing field around this subject, and allow smaller businesses to compete with the same set of conditions as multinational corporations.
Looking more specifically still, prior to Brexit, there was already a growing trend for businesses who had moved their hosting ‘offshore’ to mainland Europe. Bringing it back to the UK could create greater certainty around regulation and governance.
In many ways, Brexit has so far created a huge collection of ‘what if’ scenarios. We all need to maintain a positive approach, seek out the new opportunities and apply our talent to overcoming hurdles along the way. Those that do are more likely to succeed in a re-shaped Europe.