British Prime Minister Theresa May appears to be trying to have it both ways when it comes to globalization. May signaled earlier this week that Great Britain would be employing a “hard exit” in terms of leaving the European Union (EU). A few days later, however, at the World Economic Forum (WEF) in Davos, Switzerland, she suggested that despite exiting the European Union Great Britian is still very much a supporter of free trade and globalization.
Naturally, IT service providers are trying to read British tea leaves to figure out on a practical level what this all means to them. In a report published this week, Patrick Heffernan, an industry analyst with Technology Business Research, noted that IT service providers and consultants that want to do business in the United Kingdom will probably need to go to the trouble and expense of setting up offices there. Those expenses, of course, include the payment of local taxes and the need to find, hire, and retain local IT talent in the UK, which is already in short supply.