EU referendum: The industries that will – and won’t – feel the Brexit hit
Big UK and European businesses could see investment dry up if the UK votes to leave the European Union on 23 June, according to Standard and Poor’s (S&P).
The ratings agency warned Brexit would “paralyse capital investment”, leave companies across the continent struggling to secure funds for “years to come” and “erode the competitive position” of a number of Europe's biggest firms.
However, many industries would be insulated from the drying-up of investment and S&P said Brexit could even be a boon for the UK’s burgeoning technology sector and fintech players who could steal a march on their bigger, more cumbersome rivals.
“For technology companies … we see limited Brexit impact,” S&P said.
“With increased turbulence, we think nimble technology-based players may be better placed to capitalise than the larger traditional financial sector players, which may also be preoccupied with Brexit fallout in their core businesses.”
Read more: The OECD warns on Brexit again
The retail, media, telecoms, consumer goods and pharmaceutical industries could also emerge relatively unscathed in terms of investment on the Brexit front.
By contrast, real estate, construction, aerospace, travel, and oil and gas would be hit hard as investment falters while the UK’s relationship with the rest of the European Union remains unclear.