ALEXIS’ TIPS FOR DOING BUSINESS IN THE UK WITH THE BREXIT!
Alexis Murray Jones, a British Beeleever, CEO at Yoomondo, tells us about the UK and the possible impacts of the Brexit on the UK business ecosystem. Worried about doing business in the UK because of the Brexit? “As the fifth-largest economy in the world, the UK remains an extremely attractive and important market. Entrepreneurs should not shy away from expanding to the UK out of fear for the possible impacts of Brexit.” Alexis
Having lived and worked in Britain for over 25 years, Alexis‘ s tips are gold for those who want to develop in the UK.
Yoomondo is a young and promising company which consists of a mobile hospitality solution that lets travellers discover and book local activities their host or accomodation provider personally recommend. It comes in the form of a welcome tablet that sits in their property (replacing paper flyers) and a mobile app downloaded by the traveller.
Are you concerned about the Brexit? Do you think it will be harder for entrepreneurs who want to develop in the UK?
There’s no denying that Brexit represents a major shock to the economy. In my view, the most harmful impact is not so much the possible outcomes themselves (e.g. restrictions on human capital flows). Perhaps, the decision-makers will figure out sensible compromises. But rather the prolonged period of uncertainty leading up to these outcomes, which I feel will increasingly weigh on businesses’ planning and decision-making relating to UK activities. There is a real risk that the impact of this (e.g. ‘delay capital expenditure decision until outcomes are known’) can have a damaging impact on the economy, and the entrepreneurs that contribute to it.
So I believe that right now, not much has changed. But that the extent to which it will be harder for entrepreneurs who want to grow there will be proportional to the time it takes for the UK to reach concrete agreements with Europe.
Would you recommend entrepreneurs to do business in the UK?
As the fifth-largest economy in the world, the UK remains an extremely attractive and important market. Entrepreneurs should not shy away from expanding to the UK out of fear for the possible impacts of Brexit. But to avoid disappointment further down the line, it would be wise to model the worst possible outcomes from the process and plan their expansion accordingly.
Alexis wanted to share with you some interesting tips he learnt from his great founder experience:
- Our development team consists of on-shore developers and a team of off-shore developers based in Pakistan with whom the founders have worked for over 3 years. Slack and Skype help make the team integrated.
- We regularly receive young, bright entrepreneurs to work with us via the Erasmus Entrepreneur programme, where the European Commission provides funding for their stay with us for up to 6 months.