Reflections on the EU Referendum in the UK

by Paul McNabb

Like many businesses today, the Episode One team are reflecting on what the ramifications of the outcome from the UK EU referendum will be. Commentators are offering up all manner of analysis and opinion, ranging from the thoughtful to pieces that appear to be not much more than conspiracy theory constructed on top of rumour.

At the moment we have very little certainty to work with, and while it is fun to speculate, and tempting to point out many great investment decisions are made at the time of greatest uncertainty, or indeed that great businesses are often launched when conditions are toughest, the truth is no one knows how this will play out yet.

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Will there be challenges in the months and weeks ahead? It is hard to imagine otherwise. But it is also worth reflecting on how strategically important successive UK governments have made the technology sector. It is hard to see how that will change – arguably its importance may increase if for example financial services are impacted by the UK exiting the EU. In short we think progressive policy that can help with talent and capital will continue, even if it requires passing a points based system to come into the UK.

In any case, what we do know is that we are still closer to the beginning than the end of the technology transformation that is affecting every industry in the UK and the world. We believe that strong founders with passion and insight will still create innovative business models, and we believe there is every chance that a disproportionate amount of them will be built in the creative melting pot that is UK and London today. 

It’s a great time to build a disruptive software business in the UK – and we are still very much here to help you do that.

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