So much noise and ink spilled after the news don’t you think? We went through dozens of op-eds, articles & blog posts describing hypothetic possibilities or scenarios, unrealistic dreams or true facts, and so on.
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It happened. And just like you, I guess, we are left wondering: “so what’sreally next?”
It will not come as a surprise to you: no one has a clue. yet. But despite the tremendous amount of words written down around this topic, we came across some great pieces that really put things in perspective. Here are our key learnings.
1- Today: Business as Usual
They all start with this. So why not us? The United Kingdom will remain in the EU for 2 years. Any change that would be negotiated, voted and enacted will happen gradually. These things takes time, this should not scare fast-growing and agile companies as they’re probably the most well-equiped to evolve in such an environment. But this does not mean changes won’t happen. Though no one is able to predict or evaluate their intensity.
2- Today: It’s cheaper for foreign companies
The drop of the British Pound is probably the only factor that has actually changed for now. This leads to a lower cost of opportunity to move to the UK, while it’s still in the EU. Setting up shop now would give you time to get ready for whatever comes next and allow for a flexible structure right from the start.
3- Tomorrow: You won’t pass on proper English speakers
Let’s face it. True native speakers are the key to every internationalisation effort. Whatever the rules on the movement of people and labor, “companies relocating” do not necessarily mean “brain drain” as all talented people in London will not decide to relocate and change their lives just like that. Needless to say that the only native English speakers in Europe will still be in the UK and Ireland. No matter the politics.
4- Tomorrow: London, Berlin, Dublin, Paris, Amsterdam?
Everybody seems to agree that fintech will be more impacted than other sectors, because of the passporting problem. Again, as innovative & tech companies grow, the question is less about how to choose between London OR Berlin OR … but about how manage London AND Berlin AND… In other words: How to expand all over Europe.
From what we’ve seen at mercurr international expansion almost always means going local. Either with a team and offices or contractors and suppliers. Yes the way to do it will be different in the future, easier or harder no one knows yet, but the problem hasn’t really changed has it?
Some of the pieces we mentioned:
- Brexit will be a talent goldmine for Ireland’s tech economy
Britain’s decision to exit the European Union, with likely restrictions on immigration, could harm its tech economy but…
- FAQ: Brexit for Non-Brits
The Impact of Brexit on Non-UK Startups
- Will Brexit Kill European Startups?
Where others see devastation, Entrepreneurs see opportunities.
- Advice for Entrepreneurs after Brexit
After Brexit, a lot of entrepreneurs will be concerned/interested about what to do next, and how to deal with the…
That’s probably too many words already. We would be happy to discuss it further in the comments or directly on: hello(at)mercurr(dot)com
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