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Some 74% of people in UK tech believe ‘business will be affected by Brexit’

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Some 74% of people working in tech believe the business environment may get worse as a result of Brexit.

The research carried out by Tech City UK –  a publicly funded organisation set up by David Cameron – also found that 85% of those surveyed wanted to see the government negotiate to remain part of the European Single Market.

Additionally, the survey, which polled over 1,200 people in the tech industry between 27th June and 5th July, highlighted that 70% of employers wanted to hear a clear message on EU residents’ ability to live and work in the country.

UK tech reacts as PM Theresa May triggers Article 50 to jumpstart Brexit

Gerard Grech, CEO at Tech City UK, commented on the findings:  “If there’s one thing tech entrepreneurs are good at, it’s holding their nerve. The slings and arrows involved in starting and scaling up a digital business require a thick skin and the ability to hold on to a vision, come what may.

He added:

“It’s these qualities of resilience, as well as risk-taking, that Britain’s tech stars will be drawing on now as they face perhaps one of the bigger bumps in the road yet. And I’m confident that they’ll make it over the hump.”

Finally, some 31% said they there were likely to slow down hiring new talent while 22% of those surveyed said they expected to scale back their growth plans.

The news follows on David Cameron’s resignation and Theresa May’s surprise appointment as the new likely Prime Minister.

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