International tech labour deterred from London firms due to Brexit
One in three tech companies in London has seen potential international hires fall through due to the UK's decision to leave the EU. Tech London Advocates said two thirds of businesses surveyed believed London's reputation has been damaged by the Brexit vote. Theresa May has announced plans to double the number of Tier 1 visas available, to draw talent in. Despite this, those surveyed still believed London is the best place in Europe for start ups, affirmed by announcements Facebook, Google, Amazon and Snapchat have that they plan expand in London since the Brexit vote.

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A third of London’s tech companies have lost out on international hires due to Britain’s decision to leave the European Union last year, according to a new survey.

Industry body Tech London Advocates said almost two thirds of tech entrepreneurs believe Brexit has already damaged the capital’s international reputation as a leading tech hub.

Despite the findings, over half of the 5,400 tech founders surveyed believed London remains the best place in Europe to start a tech company.

The majority of London’s tech community also believes that future investment in the capital’s tech sector will come from North America rather than Europe.

“Entrepreneurs are defined by their ability to turn challenges into opportunities and the sentiment across London’s tech sector is increasingly one of determination, conviction and ambition”, said Russ Shaw, founder of Tech London Advocates.

“Slowing down access to European talent will make growing a tech company harder, but London is focused on strengthening its relationship with tech hubs across Europe and around the world that are already fuelling our investment pipeline.”

Prime Minister Theresa May said on Tuesday that the UK is to double the number of visas available to workers in tech and science after Brexit.

Tech giants including Facebook, Google and Amazon have all announced plans to open London offices since the Brexit vote, but have cited the challenge of attracting top talent.