Fintech makes the world go around

Jul 16 2018   10:10AM GMT

When was 28% of tech startups considering leaving London ever good news?

KarlFl40 Profile: KarlFl40


When a 28% loss becomes a 72% gain?

If there is one thing that appears to be certain about Brexit it is that it will be damaging to businesses, perhaps barring the odd hedge fund or two.

As a result it is interesting to see how organisations are spinning Brexit in a positive light. I received a press release today declaring that Almost three-quarters of London startups staying put despite Brexit uncertainty.  Great news, 28% of startups are thinking of leaving London due to Brexit. I think not.  A few years ago a positive press release about startups in London would involve thousands coming to London with hubs being established to support them. But now it is good news that only 28 of 100 startups interviewed are thinking about leaving. There is no positive angle to this.

As an act of courtesy before writing an article with a contradictory headline to the one on the press release I put it to the company that sent me the release that this is not in any way a positive story.

I quickly received an email reply thanking me for my comments. But I got more than I expected. It turns out the PR company had originally planned the angle the way I suggested but then changed it because the news outlets it had contacted wanted positive Brexit stories.

They also sent me the original press release they had put together before deciding on a positive spin. The headline was: Over a quarter of London startup founders considering relocating amidst Brexit fears.

But let’s be honest, Startups will be uncertain what they are doing at the moment because there is no clarity from government. Why polish a turd?

Read here some of the views about Brexit from the fintech community in London. No turd polishing here.

I would really like to hear the thoughts of tech startups in London about what they really think of Brexit. Please put your comments on this blog post.

2  Comments on this Post

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  • John7653
    Thank you. I think BJ really has nailed the phrase for Brexit. Why polish a turd?

    It just seems like you wake up one day and no one is at a professional level or is acting with common sense. It's such a depressing state of affairs  
    0 pointsBadges:
  • KarlFl40
    Thanks for your comments. Brexit is surreal but will cause real damage.
    32,055 pointsBadges:

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