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Why leaving the EU is bad for business

17 May 2016

On June 23, the UK will vote on whether or not it should remain part of the European Union. While politicians, economists, and opinion-shapers are dividing the nation with arguments, speculations and rhetoric, the adland seems to stand united: remaining in the EU is good for business.

Mark Syal, our EMEA Head of Media, weighs in on Campaign.

"The internet is a great leveller. The government has, in the past, expressed a desire for the next Facebook or Google to come from the UK. Cutting off access to the unfettered EU marketplace can only stifle innovation and diminish the likelihood of UK success stories.

For us and our clients, the internet means we don’t have to be in every market. We specialise in digital and servicing global and regional clients.
In Europe, we do that from a team of 250 people, speaking 26 languages, based in our London office.

As an entrepreneurial company, founded in London, we rely on recruiting top talent from across Europe to fuel our business model. While Brexit would not alter our approach, we would likely face additional barriers and costs to continue hiring and operating the way we do. For that reason, we feel strongly that Britain should remain in the EU.

We are already experiencing a period of uncertainty right now. Consumer confidence is at its lowest level since December 2014, according to GfK, and a vote to leave would fail to reverse these negative figures.

While a vote to remain means business as usual, Brexit could result in an additional two years of uncertainty due to negotiations. It’s a situation we would rather avoid."

Read more here.