How BREXIT Will Affect Technology
The exit from the EU will occur for no less than two years and conceivably more. Meanwhile, the UK remains an individual from the EU and all the EU commitments and advantages stay set up.
In the near future, it is business as usual in the UK up to at least March 2019.After Brexit (2019+) the effect upon the innovation and development area to a great extent relies on what display the UK embraces for its association with the EU. On the off chance that the UK stays in the European Economic Area then the progressions might be insignificant. On the off chance that the UK joins the European Free Trade Association and arranges area particular access to the single market then the scene relies on the correct idea of that relationship. In the event that the UK separations itself promote from the EU then the progressions might be broader.
There will be repercussions to the part in light of Brexit, not minimum given the present vulnerability winning in UK legislative issues, markets and with regards to the UK’s future with the EU. The UK has a solid reputation in the innovation and development area with charge motivating forces, venture and financing, R&D and other key drivers high on its plan. Norway, which isn’t in the EU is a prime case of how the part can grow viable outside of the EU.
Regarding particular key regions, the exact changes stay to be seen. Notwithstanding set out beneath are a portion of the conceivable issues.
Implications for overseas technology & communications businesses
Overseas technology and communications businesses often establish operations in the UK as a stepping stone to trading with other EU countries. The vote for a Brexit may affect decisions to establish in the UK and could lead to a relocation of the headquarters of non-EU technology and communications businesses to other member states.
If Sterling falls in value then this might be good news for overseas businesses who import from the UK but may not benefit for businesses exporting to the UK. For foreign businesses seeing an investment opening in the UK, the falling value of Sterling could offer significant opportunities to acquire UK firms cheaply. Apple could’ve acquired British music analytics start-up Symmetric in January 2015, 10% cheaper in dollar terms if done today instead of spending $50m then.
The costs of providing web development, web apps, mobile app development, and technology services would be increased by customs tariffs or Visa requirements on staff coming to the UK to work on technology projects if such tariffs or Visa requirements were introduced. This would inevitably impact the pricing of such services, as well as potentially the time required to deliver services or projects.