UK Brexit deal leaves startups in limbo on financial services, data - Business Insider

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The UK's last-minute, skinny Brexit deal leaves tech businesses furious: 'The government has no true understanding of the impact.'

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Founders who spoke to Business Insider criticized the last-minute nature of the deal, and said the UK would inevitably become a less attractive place to set up shop.The last-minute and "skinny" nature of the UK's Brexit deal throws up hurdles for startups still awaiting clarity on how they will continue to trade with the EU in 2021.

Digital businesses also face continued uncertainty, waiting for final agreements on how data transfers with the EU will work, and whether the UK's financial sector can continue to trade freely with the bloc. They must also navigate a more complex tax environment, and will find it tougher to attract talent from outside the UK.

"What we've done over the last 18 months is set up regional entities within Europe to continue writing business within Europe," he told Business Insider."We worked hard to get set up in the Netherlands," he said. "The Central Bank of Ireland were just too slow, so we couldn't do it in Ireland.

 

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They just don't care because they are way over their heads. They probably have a sense of the impact thanks to the many lobbyists swimming around them.

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