Pursuits
Victims of Brexit’s Real-Time Recession Already Feeling the Pain
- Hiring, expansion, investments all on hold after vote
- Decision to leave EU ’is a miserable outcome for the economy’
El-Erian: Don't Think U.K. Will Avoid Recession
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Damian Kimmelman is exactly the kind of entrepreneur the U.K. government says it needs. His London startup has 100 employees and expects to hire many more. Unfortunately for the British economy, Kimmelman’s new people won’t be in the U.K.: He changed his plans after voters chose to leave the European Union last week.
“We’ll be distributing our team, opening up new offices in Europe rather than focusing on the U.K.,” said Kimmelman, whose company, DueDil, provides data-analytics tools to study private companies. “This is a miserable outcome for the economy.”