UK's exit from EU to brutally hurt local tech firms


(MENAFN) The stage has been set for a decision that will impact the U.K.'s business community for years to come, as Britain has to decide whether to remain a member of one of the world's most influential markets.

The capital's unique position as a creative platform for new ideas has made London a global center for firms both large and small, most of which see the U.K. as a gateway to the EU and its 500 million possible customers.

Leaving the EU will have very direct consequences for London's tech industry, as the country has been transformed to a beacon of innovation within the bloc, made possible by EU's flexible rules that enabled the UK to flourish.

Moreover, access to funding is another issue that would impact tech firms if Britain opts to leave the EU, because the EU gives firms in the UK access to seed enterprise investment schemes from Europe's other financial centers.


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