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Tech City boss says businesses are optimistic in wake of Brexit

PUBLISHED: 09:00 16 July 2016

Tech City

Tech City

Archant

With Hackney still producing start ups at a rate of knots, the founder of Tech City UK expects businessman to hold their nerve amid post-Brexit worries.

New figures show Hackney has the third highest number of start ups in 2016 so far with 9,457, a figure better only by Westminster and Camden.

Last year there were 10,103 in Hackney, the second highest amount for any borough in the country.

And a survey of more than 1,200 people in tech, more than half of which were CEOs, found less than a quarter were planning on scaling back growth as a result of Britain leaving the EU.

More than a thid said they were getting on with business as usual, while just 31 per cent said they would slow down on hiring staff.

But with 74pc fearing the industry could get worse, Tech City CEO Gerard Grech said: “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.

“Many in the digital economy wanted to remain in the EU. Now, as the initial shock starts to fade, an air of pragmatism is settling in.

“I am also detecting cautious optimism as the possibilities of life after Brexit begin to come into focus.

“The UK digital economy is growing 32pc faster than the wider economy and is creating jobs 2.8 times faster.”


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