The tech industry in the UK has issued a warming to ministers that a transition away from EU data protection standards following Brexit will damage the UK’s status as a technology hub. Amid the growing misunderstanding amongst Brexiteers that diverging from the tough EU data protection laws will give Britain a competitive advantage compared to other EU states in this fast growing sector.
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UK government is under increasing pressure to confirm whether BREXIT data flow between the UK and EU will be allowed to remain uninterrupted post-Brexit. Lack of even initial negotiations on data, now the lifeblood of the digital economy representing hundreds of billions of pounds of annual trade, raising concerns that the UK focus on tech in its post-Brexit plans, may run into problems if it can’t retain access to or process EU data.
The digital economy now contributes approximately £97 billion a year to the UK economy and is attracting a significant amount of investment each year. It was very important that the technology sector was included in the sampled population for the questionnaire. The survey aimed to determine what the current use of the cloud is within this industry and additionally what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
Hundreds of Scientific Research companies hold their headquarters or research facilities in the UK. not only do they represent a significant proportion of the UK economy, but also attract a great deal of Government and investment activity. The survey aimed to determine what the current use of the cloud is within this industry and what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
Creative Skillset has revealed that 153,000 people work in the marketing and advertising industry in the UK alone. This is a rapidly growing industry and it is for this reason that it was included in the survey. The survey aimed to determine what the current use of the cloud is within this industry and what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
The Utilities Sector, made up of electric, gas and water firms, and the energy sector alone accounts for approximately 5% of GDP. The organisations surveyed in the UK Cloud Snapshot Survey were predominantly energy companies. The survey aimed to determine what the current use of the cloud is within this industry and what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
In 2016, the finance and insurance sector contributed £124.2 billion to the UK economy in gross value added. This sector therefore makes up a significant proportion of the UK economy, and it for this reason this sector was included in the survey. The survey aimed to determine what the current use of the cloud is within this industry and additionally what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
General Data Protection Regulation (GDPR) is clearly the largest external focus for companies in the lead up to its introduction in May 2018. GDPR mandates considerably tougher penalties than the current Data Protection Act; organisations found in breach of the Regulation can expect administrative fines of up to 4% of annual global turnover or €20 million – whichever is greater. Fines of this scale could very easily lead to business insolvency.
In the three months since the research undertaken by Serviceteam IT, which explored the impact of the external challenges that businesses face in 2017 and beyond, the uncertainly has not changed. The uncertainty of Brexit, the introduction of General Data Protection Regulation (GDPR), and the rise of cyber-crime, and most importantly Data Sovereignty.
The predicted immediate economic slump has not materialised but there are growing signs that the uncertainty around BREXIT is having a detrimental effect on UK business. BREXIT was identified as the third most pressing issue after GDPR and cyber-security for respondents to the survey conducted by Serviceteam IT.
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