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

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 51%

Philippines News News

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

and start reading now.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

HopeOnTheStreet Japan Lethal Levels of Radiation Found in Damaged Fukushima Reactor, Impacting its Shutdown Dec. 31, 2020 Hope2021 NONUKES

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What the new UK-EU trade agreement means for UK fintechs - Business InsiderIn the long term, the UK's departure from the EU could lead to increasing regulatory fragmentation as the jurisdictions go their separate ways in shaping fintech strategies
Source: BusinessInsider - 🏆 729. / 51 Read more »

UK government fintech review to identify key areas to alleviate Brexit consequences - Business InsiderICYMI: The UK's fintech sector has gone from strength to strength in recent years, but fresh barriers imposed by Brexit could halt its growth
Source: BusinessInsider - 🏆 729. / 51 Read more »

Scotland is heading towards independence from the UK thanks to Boris Johnson and Brexit - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. How are things with the capitol now? Because Brexit is turning into a real mess. I think it’s well passed due.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Parler attracted senior members of the UK government before it shut down, says report - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Graph: Soaring UK COVID-19 cases since coronavirus variant found - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Thank God for bringing bitcoin to man,it has being a great source of blessing to all of man kind who have passion for bitcoin trading. Now the poor are getting rich over night and the rich getting richer. lisaMakT thank you for your proper management .
Source: BusinessInsider - 🏆 729. / 51 Read more »