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Life stops with Brexit: Stagnant ICT Projects Worth 35 Billion Dollars

Almost a third of UK organizations have decided to stop their IT initiatives. We speak in total of 1.7 million companies that have put the brakes on projects worth 35 billion dollars.

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Almost a third of UK organizations have decided to stop their IT initiatives. We speak in total of 1.7 million companies that have put the brakes on projects worth 35 billion dollars.

We add and continue with the consequences of Brexit in the digital arena. If a few days ago we told you how the United Kingdom has experienced at the end of 2018 “the slowest rate of expansion of the technology sector since the fourth quarter of 2015”, now the figures reflect an equally worrisome picture regarding ICT projects carried out by the companies and public bodies of the islands.

And, according to a study by Beaming, almost a third of organizations in the United Kingdom have decided to stop their IT initiatives, a percentage that increases to 53% among SMEs and 77% of large organizations; lowering the little glossy average microenterprises with 29%. We speak in total of 1.7 million companies that have put the brakes on projects worth 35 billion dollars.

Tood because of the enormous uncertainty that exists in the face of the imminent departure of the United Kingdom from the European Union, for now without any agreement that guarantees an ecosystem conducive to strategic investment.

If we look at sectors, technology companies are the ones that will continue to bet on ICT projects despite everything, with 81 percent of them maintaining their investment. It is also worth mentioning financial services (68%), education (64%), construction (60%) and industry (57%).

“Regardless of the successes and errors of brexit, it has become clear that the political stalemate in Westminster is creating uncertainty and affecting investment,” explains Sonia Blizzard, CEO of Beaming, in the document. “Whatever happens, companies need to communicate and make sure systems are resilient, and we are seeing expenses to improve the essentials, such as connectivity and cybersecurity.”

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