Is the UK still worth the effort?

Is the UK still worth the effort?

I returned to the UK 15 years ago, having spent the 10 years or so prior to that living in Germany. Things have changed a lot since then, Brexit chief among them.

For many EU technology businesses, Brexit brought complexity to pricing, importing, inventory, and compliance.

I’ve got several clients based outside of the UK, some in North America, others in mainland Europe, notably Germany and The Netherlands. Some of these are SaaS businesses, others sell physical hardware. Some pulled out of the UK post-Brexit and there are others that I am helping to enter the market for the first time.

In my opinion, the UK remains one of the most attractive tech markets in which to do business, both in Europe and globally:

• English-speaking with global reach & close international ties.

• High IT spend per capita & highest revenue per reseller partner in Europe.

• Mature distribution ecosystem with value-oriented end-customers who buy premium products & services.

• Europe’s AI leader, home to more than 2300 VC-backed AI companies with a market valuation of over $230bn, plus the $40bn investment Amazon announced recently.

• Outstanding cross-border support through organizations like the Department for Business and Trade, and the UK's recently-launched Modern Industrial Strategy - see link below from His Majesty's Trade Commissioner for Africa, John Humphrey, and the DBT's regional director for Southern Africa, Chim Chalemera. I'm working with the DBT on a UK/South African business initiative and the support has been incredible.

What’s changed is how to approach the UK. A local approach is essential, and often more nuanced than in mainland Europe.

From time to time, I’ll share some practical lessons I’ve learned from helping clients expand or re-enter the UK post-Brexit and highlight where some of the real opportunities still lie.