Brexit’s Long-Term Damage to UK Startups | In the City

Martha Lane-Fox, president of the of the British Chambers of Commerce, said she sees Brexit as the main issue facing UK businesses.

“Brexit affected the skills base full-stop,” she said on this week’s episode of In the City. Fox joined NFX General Partner Pete Flint for a panel discussion hosted by Bloomberg’s Stephen Carroll at the GROW Summit in London.

Flint said he’s optimistic about the UK’s chances of replicating a San Francisco-style hub of business success, describing the country as “a great environment for immigrants to come.”

But there’s still a way to go, he added. “I would absolutely not advise any company that I’m backing to go public in the UK.”

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Is London having another moment? Shaken by Brexit, decimated by the pandemic, threatened by new ways of working and a worsening cost-of-living crisis, the city remains Europe’s (and arguably the world’s) beating heart for finance and for culture. In the wake of turmoil, The City of London is reinventing itself. Every week on In The City, Bloomberg’s Francine Lacqua and David Merritt go behind the scenes in the Square Mile and the wider metropolis, uncovering the stories and speaking to the people that matter.

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