The CEO of a high-flying London tech startup is considering expanding to Ireland or Germany after the EU referendum
Conversocial
March is concerned that Brexit will make it harder for him to hire engineers from across the continent at his company, which has raised $22 million (£16 million) since it was founded in 2009.
"There is a huge demand for high-quality engineers and any advantage a company has in accessing talent is a huge factor," he told Business Insider. "Easy access to European engineering talent was a powerful engine for growth that may now be removed."
Access to European funding and access to European markets will also influence March's decision, he said.
Potential new office locations for Conversocial include Ireland and Germany but the company won't be making any hasty decisions. "We're monitoring what impact this has on our engineering hiring over the next 1-2 quarters. If we see a big drop in European candidates then we will consider options to expand our engineering team into other locations.
He added: "It doesn't change our current commitment to London, but could change our growth plans significantly."
Several other tech startups are weighing up whether to stay in the UK, with Claire Cockerton, CEO and chairwoman of ENTIQ, a company that aims to help businesses to innovate, saying: "The UK tech innovation ecosystem is as attractive and successful as it is because of our connectivity to Europe: the Brexit vote has put at risk our trading and investment opportunities, flow of talent, EU funding for research and innovation, and the social and cultural identity of our community.
"We are already seeing the impacts so we must act together to ensure we continue to be open and connected to critical neighbouring markets."
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Fresh photographs of Milky Way’s black hole Sgr A* reveal strong, twisted magnetic field similar to M87*
- 8 Lesser-known places to explore in Himachal Pradesh
- Markets end FY24 on buoyant note amid positive global cues
- SRM Contractors IPO allotment – How to check allotment, GMP, listing date and more
- Rupee falls 6 paise to settle at 83.39 against US dollar