The outcome of the EU referendum has been decided and the UK has chosen to leave the EU. This will have a profound effect on the UK and the businesses operating within it. There is no question that the impact of the Brexit will be sizable and long term.
The skills gap, for one, is likely to worsen as the UK’s potential workforce is shrunk considerably. Leaving the EU at a time when the UK is in need of skills will be a huge blow to UK businesses, let alone the commercial opportunities that may be lost and could consequently stunt UK start-up growth.
The responsibility will now bear down even more heavily on businesses to generate skills within the local economy through training programmes, such as the one we launched earlier this year. The Government too is intending on allocating funds to formal qualification programmes following the Budget announcement.
It will take time, however, for these to begin closing the skills gap and Brexit will likely worsen the situation.