Ideas Made is a digital marketing agency. They turn ideas into online products and services. They have offices in London and Ljubljana, Slovenia.
How will the UK leaving the European Union affect your business?
“Last year we wanted to double our business. Around May we were looking good, with a strong pipeline so we invested in a lot of people and doubled our team.
“After the referendum result everything froze -we had clients who were getting funding from investors who suddenly started stalling. Everyone seemed to be waiting. This had a big impact on where we got to by the end of the year.
“Our tech team in Ljubljana was hit hard by the slump. My business partner running that office saw his salary hit dramatically by the exchange rate. We were saving 30% on cost having that function based out there, now we’re only saving 15%.
“Clients were hesitating, not willing to spend money. And then projects which we thought were coming up, and clients had verbally committed to, never happened. Also any sub-contracting we do in Europe costs us a lot more money.
“The tech sector is largely venture capitalist funded. After the referendum there was a period of shock. They said ‘Let’s see what this means’. People put aside all the plans they had.
“Now 6 months has passed. And still no one knows what it means but they seem to be willing to just get back on with it. Our business does now seem to be picking up, January looks a lot better for us, although we don’t know how long it will last.”