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Tech firms bucking the Brexit doom and gloom predictions

After the vote to leave the EU was made the fears were that the world would start to fall in a bit and the tech sector would suffer but there are signs of the opposite happening

Immediately following the Brexit back in May decision fears were raised that it would have a serious impact on the British economy and have negative ripples across the IT world.

There have been some signs that the overall economy has taken a hit but when it comes to the tech sector there are some trumpeting the positives claiming that it is far from gloom and doom in the market.

Software vendor Vermilion has just reported its numbers for its Q1 from April to June and delivered record sales and found that even with Brexit it has increased its revenues from its US operation.

The firm has an office in Boston and has reported a 50% increase in clients in Q1, which challenges the assumption that with a weaker pound life would be much harder for British firms looking for overseas trade.

“The last twelve months has been outstanding for Vermilion, and the first five months of this financial year suggest that the trajectory will continue," said Marcus Noble, CEO at Vermilion Software.

The experience of Vermilion reflects the views of most IT professsionals with the vast majority not expecting the Brexit vote to cause any loss of influence in the global IT market, according to Spiceworks.

Elsewhere, hosting firm UKFast has reported recieving more than 5,000 job applications this year countering suggestions the IT jobs market might be a sluggish place to be.

“Brexit or no Brexit, people want to work in tech and for exciting tech businesses. It’s the fastest growing and most exciting industry in the world and Britain is one of the leading players," said UKFast CEO Lawrence Jones.

“The best and brightest want to come into our industry and that can only be a good thing, but at the same time more people are realising that a career in tech can be accessible to anyone with the right attitude and a willingness to learn," he added.

The 5626 applicants for roles at UKFast in the first half of this year is a 306% increase on the same period last year. The applicants are not sending their CVs in to the firm in vain with UKFast expecting to increase headcount to 350, from the current 300, this year.

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