The World After Brexit

People Stand Divided on Texit

There exists some polarizing views on the matter of Brexit. Some think that UK government has done what many governments lack the will or power to do. With Brexit, the government has now taken a step in making their countrymen their first priority. Under EU, most of the jobs were either being outsourced or provided to the unarguably huge section of European talent pool by tech startups. With Brexit, the country now stands a chance to develop its own talent pool and become self-sustainable.

But Texit is a Reality in Making

But because all this won’t happen overnight, tech companies are now in a fix and contemplating of shifting base. Big companies like DueDil and TransferWise are openly considering an overseas relocation. There is a popular view that to remain Europe’s leading tech destination, UK should have continued with its EU alliance. After all, EU nations have a huge pool of tech talent. When sustaining easy movement of resources between UK and EU nations seems difficult now, Texit becomes an imminent reality.

However There Are Some Experts Looking At the Brighter Side

Among so much despair and possibility of Texit, there are a couple of investors and entrepreneurs who are trying to turn focus towards the brighter aspects. According to them, uncertainty is an integral part of any entrepreneur’s life. Some even feed on it to keep themselves on toes. Brexit is bad news for tech companies. But Texit will be far worse. Instead of running away, now is the time to realign focus and adapt; now is the time to get on feet again and pay more attention to the customers in order to strengthen name in the market. Today, if a startup realigns its resources and adapts well to the current UK scenario, it stands a hundred-fold chance at growth in some years. This growth will easily equalize the current losses due to Brexit.

Whatever the people might think and do, for now Texit is definitely a threat staring at UK. Only foresight and patience can stop its spread now.

Takeaways:-

• Texit is coming and many tech startups are contemplating moving out of the UK.
• Although Brexit ensures more jobs for the UK people, companies are not happy about the possible inconvenience they may face in moving resources between UK and other EU nations.
• Some believe that Texit can be avoided by planning for the long-term benefits.