Home / Tech / Despite Brexit chaos, people are some-more confident about the London tech zone than ever

Despite Brexit chaos, people are some-more confident about the London tech zone than ever

theresa may british primary apportion happy
Theresa May.
Kerry Davies –
WPA Pool/Getty Images

LONDON — Britain’s startle opinion to leave the European Union last
summer has engulfed the UK’s tech attention in difficulty — with
concerns over all from visas for unfamiliar workers to the
future of appropriation for venture collateral firms.

But this hasn’t dampened people’s certainty about the future
prospects of London, according to a new report from KPMG.

The global consultancy organisation surveyed some-more than 800 “global
record leaders” from around the world, and found that the
British collateral was ranked fifth in terms of up-and-coming global
hubs for the record attention — up from seventh in 2016’s
ranking, before Brexit chaos began.

Respondents (mostly C-level executives) were asked “In addition
to Silicon Valley/San Francisco, which 3 cities around the
universe will be seen as a heading record creation heart over
the next 4 years?”

In first place was Shanghai, in China, followed by New York. In
third was Japan’s Tokyo, then Beijing, then came London in fifth.
After that it was Washington, Berlin, and Chicago, with Tel Aviv
and Boston tied for ninth place.

In other words, respondents were some-more confident about Britain
than ever, despite the appearing spook of Brexit.

But be warned: Brexit hasn’t even begun yet

A word of caution, however: The consult was carried out between
Sep and Nov 2016. That’s after Britain voted to leave
the European Union, but before we had any thought about what arrange of
Brexit the UK supervision competence pull for. Prime Minister Theresa
May has given signalled that she intends to pull for a “Hard
Brexit” that prioritises immigration control over unrestricted
entrance to the European singular marketplace — a position that has alarmed
many remainers.

Additionally, the Brexit routine hasn’t even rigourously begun yet.
May says she intends to trigger Article 50 by the finish of March,
and even then it’ll be two years (or
maybe longer
) until a understanding is hashed out with the EU.

Right now, it’s still business as common — despite with a large
assisting of uncertainty.

If Brexit restricts tech companies’ use of immigrant employees,
or throws up regulatory or trade hurdles between Britain and the
as many in the attention fear
, it could spin out to be a very
opposite story.

kpmg respondents demographics
demographics of respondents to KPMG’s disruptive technology


There has been a few early votes of certainty in post-Brexit

Vehicles negotiate the Old Street devious in Shoreditch, which has been dubbed 'Silicon Roundabout' due to the series of record companies handling from the area on Mar 15, 2011 in London, England. The comparatively low let rates and vicinity to media and internet companies has done the area close to the devious a primary plcae for IT firms and web entrepreneurs. (Photo by )
Street devious in Shoreditch, a heart for London’s startup

Scarff/Getty Images

But we have already seen some votes of certainty in the UK’s
post-referendum tech industry.
Facebook announced enlargement plans in Nov 2016, observant it
dictated to sinecure 500 some-more people in London
, while Google
recommitted to plans to build a major new London HQ.

“Despite Brexit, the core attributes that have done the U.K. tech
section so clever and appealing sojourn in place,” KPMG pronounced in
its report, “including an extraordinary talent bottom that has a long
lane record of creativity; good infrastructure and facilities;
first category universities; a fast authorised system; appropriate
mercantile incentives; time section advantages; and an ecosystem of
advisers that support the needs of tech companies.”

Before the referendum, the UK tech attention overwhelmingly
upheld remaining partial of the European Union.
Almost 90% of respondents were pro-Remain in one poll

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