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How the UK Is Changing to Benefit the Tech Sector

The United Kingdom has been a major player on the world stage for a long time. And it has had a diverse and interesting history. And while we can’t deny that not all of that history is good, it would be reckless to ignore the huge contributions the UK has made to the global stage.

The UK is known for a number of different things. But one of its greatest exports is, and always has been education. Two of the most prestigious and highly-rated universities are based in England. Oxford and Cambridge. It is no surprise that that one of the English stereotypes is intelligence.

This also explains why the United Kingdom has consistently been one of the countries with an extremely strong tech sector. Today we want to unpack what exactly makes the UK such a positive space for any tech firms or innovators. And we want to look at the changes the UK is currently undergoing that promise positive benefits to the tech sector overall.

England’s Tech Sector

It is easy to think of England being all rural villages and expansive countryside. And for the most part that is right. The real power comes from London, the capital. An expansive city with an impressive array of skyscrapers, tourist destinations, and historical significance wrapped up together.

London has an extremely strong business economy, being home to the headquarters of some powerful firms, and is home to a number of powerful banks too. Which is the first reason that the tech sector is so strong in London. Connections. Any tech firm looking to find new contracts or get hired need not look far. Every day hundreds of fledgling businesses and even some of the larger firms are upgrading and expanding. A great example of this is the company Sphere IT. Once a small firm, countless larger businesses needed IT support and got it from Sphere IT. This is just one of many stories highlighting how beneficial it is for tech firms to make their home in London.

Not to mention London is a tourist hotspot. People from all over the globe visit London regularly, or they will again once the pandemic has eased up. And tourists translate to sales. Particularly sales of tech products. Gadgets and Gizmos line the windows down busy London high streets. Enticing potential customers into spending more. Any business knows a capital city like London is a profitable venture. But doubly so for tech companies.

Legislation Changes

So what changes are happening in England right now? And how are they going to benefit the tech sector? Well, the first and most notable change that happened to the United Kingdom in recent years was, of course, Brexit. We can’t say if Brexit was a good idea or a bad idea overall. It is a complex issue that would require a lot more time to dive into.

But regardless of its overall impact, there are definitely some positive elements already showing. The first major change to the tech sector is the removal of restrictions imposed by the EU. While a member, the UK had to comply with any and all laws decided by the EU. But now they have left they have a lot more freedom in terms of product production and, most importantly, who they can trade with.

Trade freedom is perhaps the biggest gain for the tech sector. Producing new tech requires raw material. Gold, platinum, plastics. Complex machinery and miniature circitury are only produced in specific countries. All of these things are not abundant. So having more options for trade means more chances to acquire these things.

And this works both ways. Trade freedom also means tech firms working in the UK now have more options on who they sell to. Previously there was an incentive to only sell to the EU before anyone else. Now companies can look elsewhere for business opportunities making the market slightly less competitive and a lot more profitable. This is a massive boon for smaller firms, which now don’t have to worry as much about their competition now.

Olivia

Olivia Is Free Independent Journalist, Has B.A in International Relations, With Many Of Her Research And Papers Published On America's Most Influence Newspapers.

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