The UK’s tech channel is in a panic this morning as its managers try to get their head around Friday’s Brexit decision.
Gartner has forecast that Britain’s tech buyers will now stop spending in 2016 and 2017, turning earlier growth numbers negative and the industry will fall into recession. There is also a fear of the cost of hiring EU workers, taxes and tariffs which is enough to send the industry into a tail spin.
Still at least we won’t have those nasty foreigners telling us what to do, we can just sit around muttering there will always be an England as the French start turning off the power.
Most of the tech companies have said that they needed Brexit like a hole in the head and are wondering how they can recover their position. Basically the issue is that global business value chains are more integrated, while Brexit envisages a market which was out of date 40 years ago with Britannia ruling the waves.
SAP has said that things might be alright if the country pulls finger quick and makes its escape as fast as possible.
However, outfits like Alfresco Software moan about the huge uncertainties which gets more than half its business from the EU.
