From recruitment concerns to financial woes, startups have plenty of reasons to worry about Brexit. But entrepreneurs are hardly the only ones nervous about the upcoming separation from the EU. New research from Morgan McKinley, the professional services recruiter, has revealed that UK workers are very concerned about what Brexit will mean for their jobs.
Having surveyed over 7,000 professionals working in a wide range of sectors including the finance and retail industries, the researchers found that 58% of professionals want another vote to determine the UK’s future. That’s hardly surprising given 87% of respondents have little or no confidence in the government’s ability to follow through with the Brexit talks that would create a favourable transition for the British people.
Following the referendum, research from Silicon Valley Bank revealed that one in five startups planned to open offices in Europe. However, Morgan McKinley’s survey shows that this isn’t a very popular option among British professionals. Of the people polled, 41% stated that they wouldn’t move abroad and 22% were unsure. Most workers who would be ready to relocate would prefer to move to the US or Dublin, with each location preferred by 18% respectively. Only 8% of respondents selected Frankfurt and 9% selected Paris, despite both Germany and France having made huge efforts to nurture great startup ecosystems.
It might be worth noting though that 64% of respondents live in London or the South East – areas that were heavily against Brexit in the first place. Moreover, 16% were UK nationals who were working in Europe. Given the people polled, it’s hardly surprising that 69% still feel that it was not the right decision to break up the union with Europe.
Commenting on the study, Hakan Enver, managing director at Morgan McKinley, said: “Time being a healer doesn’t necessarily apply when reviewing the findings of our most recent Brexit survey. There still exists an overwhelming feeling of disappointment coming from UK working professionals and it appears to stem from either the original decision to leave the EU or through the general lack of clarity around what the future landscape will look like. Opinions are as mixed as they have always been, which causes furthers anxiety amongst many. There is no doubt EU citizens are leaving the UK to head back to home nations, which in turn threatens to damage the UK’s reputation in sectors such as technology and financial services.”
While there are some reasons for optimism, this survey seemingly indicates that UK professionals feel that getting their blue passports back is a small consolation for the uncertainty brought on by Brexit.