One in 10 London-based tech firms say funding has been pulled back since last year’s Brexit vote. And close to three-fifths of tech professionals surveyed by Tech London Advocates believe that the government’s triggering of Article 50 will damage the capital’s standing as a global tech hub.
In addition, more than one-third of London’s tech outfits report finding it harder to grow their businesses since last year’s EU referendum vote – the research finds that over 15% of respondents have seen customers withdraw from deals due to the uncertainty surrounding Brexit.
“The survey data shows that many tech leaders continue to feel uneasy about the process of leaving the EU, with both investment and access to talent under threat,” says Russ Shaw, founder of Tech London Advocates. He adds that tech firms need to fight for an ecosystem providing adequate investment to allow start-ups and scale-ups to grow to become “the tech giants of tomorrow”.