A UK vote to leave the EU in the June 23 referendum will negatively impact future expansion for travel software firm Open Destinations.
The message came from chief executive Kevin O’Sullivan after it was ranked in The Sunday Times’ SME Export Track 100 league table for the second year.
Appearing at number 74, the firm was one of 13 software providers featured in the research report, which ranks the top 100 small and medium-sized companies with the fastest-growing overseas sales.
The Sunday Times reported that Europe was the main overseas market for 80% of the companies featured in the SME Export Track.
O’Sullivan said that Open Destinations has seen tremendous growth in Europe over the past decade and is adamant that there would be a negative impact from a ‘remain’ vote next month.
“The UK has become a hub for the travel technology sector and we will certainly feel the impact of leaving the EU,” he said.
“The legal uncertainty that it will create could well motivate companies to choose local suppliers as an alternative to UK-based companies. I hope we vote to remain in the EU.”
However, Open Destinations’ revenues are projected to continue to grow rapidly over the next few years, with the majority of sales projected to come from international markets.