The tech sector will have to get used to more trade friction as a result of Britain’s changing relationship with the EU, according to GlobalData, a leading data and analytics company.
David Bicknell, principal analyst for GlobalData’s Thematic Research team, said:
“The UK tech sector, which would have preferred close alignment with the EU, will have to get used to the post-Brexit political reality. On paper, nothing will change in 2020, but there will be uncertainty as tech companies fret about whether things they used to take for granted will be affected.
“An agreement on data adequacy is in both the UK and EU’s interests and is likely by the end of the year. However, there will be more friction at the borders and regulatory divergence over time. If cross-border travel becomes more difficult for UK tech employees, it will negatively affect the ability of UK firms to win business on the continent.”