From Brexit to Texit?

Very few in the tech sector wanted a Brexit vote: the UK's current position as a platform for entry into the European market is an enviable one and leaving the EU could well jeopardise that.  But as the dust begins to settle and the hard work of settling on an exit strategy begins, some leading figures in the sector have counselled calm and urged the UK tech community to show resilience and a renewed commitment to innovation.

This echoes the views expressed at our Tech roundtable event last Friday.  Many of the attendees were shocked and dismayed by the result of the referendum, but also committed to exploring new opportunities, such as strengthening the ties between the UK and Israeli tech scenes (particularly with the latter's fintech focus). 

One issue which needs to be resolved swiftly is the question of access to talent: tech firms will want reassurance that they can continue to bring in relevant expertise where there are skills shortages in the UK.  

Perhaps this also opens up an opportunity:  whatever the UK's eventual participation in freedom of movement (which seems to be very much a movable feast at present), it seems likely that UK businesses will need to invest in training their workforces to tackle skills shortages as well as bringing in overseas expertise.   The tech sector has a lot to bring to the table here. 

It's tempting to get caught up in the whirl of events: this is the most interesting political development I've lived through as an adult and Twitter has never been more addictive.   But until there is more certainty about what the future will entail, it's hard to fault the advice from one venture capital firm - "Keep Calm and Code On".