Brexit Brings Cyber‑Crime Chaos According to New Study
Almost nine out of every ten UK businesses are worried that leaving the EU will really mess with their day‑to‑day life.
Key Findings
- Every sector shares the same big worry: data and cyber‑crime are top threats to business continuity.
- In a survey of 1,002 leaders by ThoughtWorks, 82 % said Brexit threatens their operations, but it’s tech that truly gnaws at them.
- Tech concerns make up 33 % of all worries, while the weak pound, supply‑chain hiccups, and EU talent issues hover around 20–25 %.
Where the dread lies
- Changes to data transfer: 54 % fret over new rules for moving personal data between the UK and the EU.
- Vulnerability to cyber‑attacks: 42 % fear a hacker’s knock.
- Adjustments to storage, purpose, and processing: 30 % worry about how policy may tweak customer data handling.
Big vs. Small: Who’s Most Frightened?
- Large firms are more than twice as worried: 47 % vs 22 % for smaller ones.
- Big companies see technology as the nightmare, while tiny startups are split between tech and other Brexit Buzzwords.
Financial & Operational Fears
- Currency drop worries 24 %.
- Supply‑chain rumbles 20 %.
- Talent migration (EU/UK work rights) 22 %.
Where Is The Heat?
- London: 44 % of leaders sweat over tech concerns.
- Manchester: 39 %.
- Birmingham: 38 %.
- Across the rest of the UK, the tech dread levels are fairly uniform.
In short, while the political parties promise policies, many businesses feel scrambled—unprepared and terrified that their digital bones might crack under a post‑Brexit tide.
Sector fears
Brexit’s Biggest Bite: Tech Threats Over Fluctuating Borders
After the UK took the leap out of the EU, one thing’s crystal clear: businesses are thinking twice about what comes after the gate is closed. If you asked a CEO about the biggest risk, you’d hear something about a blinking mouse or a hacker’s grin rather than a customs form in the luggage.
Show‑down of the Numbers
Almost every sector, bar the retail merchants who still love a good trade‑off, put data and cyberspace… the tech stew at the top of their worry list.
- Public Services: 47% brace for IT headaches.
- Media & Tech: 40% fear a digital domino.
- Financial Services: 37% live with the “hacker on the block.”
- Manufacturing: 33% ask if their robots are binge‑watching.
- Retail: Note the twist – 36% pin import/export at the top, just slightly ahead of the 35% who worry about tech. These folks still love stock‑taking, but the border matters.
Why the Gap in Retail? A Little Trade “Trip”
For retailers, the paperwork of bringing goods in and sending them out has edged the tech scare by a hair. That means a border check can be as stressful as a Friday‑night blackout “We’re in lockdown!” message. Still, an 35% tech concern isn’t far behind – their point‑of‑sale systems need to be bulletproof.
Jim Gumbley’s Take (Into the Hackers’ Playground)
ThoughtWorks UK’s cyber sage, Jim Gumbley had a chat with business leaders across the country and came away with a clear message: Secure your data, or your brand will drop like a pack of T‑shirts on a chilly London street. He reminds us that the once‑mere tech problems are now the entire company’s lifeline – everything from revenue to the “trust meter” that decides if a customer will set off their phone-to-phone call to your support line.
“In these crazy times of economic and political uncertainty, we asked businesses how tuned in they were to the new operational, financial, regulatory, and tech risks. It turns out data security is the big boss. And it’s not pure tech anymore—it’s the glue that keeps your brand strong. If you’re rolling out projects or backing tech startups, weave security into the core from day one.”
ThoughtWorks’ Game Plan
From London’s buzzing offices to Manchester’s tech cafés, ThoughtWorks is turning data confidence into a kingdom of innovation and agility. They’re guiding big shots in every sector to gear their strategies around data, so when the market hiccups, they’ll zoom into opportunity rather than run in fear.
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