We made a decision a few years ago to move into the UK Market as the focus for our international expansion. Towards the end of 2015 we secured investment for this expansion and opened our City of London offices in Lovat Lane.
Our decision to move into the UK Market was driven by London’s status as the Financial Capital of the world and the strength of the Great British Pound whilst being a member of the European Community.
How will the referendum affect European Business looking to expand?
Should the British Public decide to leave the European Union many business types may reassess their position in London and the rest of the UK. The focus on London as the Financial Hub will be directly affected and as such the stability on which it is built will be at risk.
This will have a direct affect on not only the European companies already in the UK, but also those looking to expand internationally. Britain will no longer be the top of the list.
According to a survey completed by Bertelsmann Stiftung (see link) “Nearly a third of all businesses announce to reduce or relocate capacities”. It should be a warning to the population as a whole that “29% of all businesses would either reduce capacities in the UK or relocate capacities away from the United Kingdom”. As a Technology company we are in the sector most likely to relocate with “41% of respondents replying their business would meet a Brexit with a decrease or relocation of capacity in the UK”.
Is it just the Technology Sector that will majorly reassess?
No, perhaps the most worrying is that figures from the financial sector show “33% see such measures as the likely response of their companies to a Brexit”.
Should David Cameron be concerned?
The fact that the Conservative Party are targeting Expats is a clear signal that they are already concerned at the outcome of the referendum. Naturally, most expats are more likely to vote against a Brexit, hence the Conservative Party trying to gain their vote by all means necessary including direct marketing of Expats Rights to Vote. See the Infographic below to understand why this Right to Vote (for all Expats living abroad for less than 10 years) is important.