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EU referendum: business reaction

The UK has voted to leave the European Union.

Here is a round-up of reaction from industry bodies.

British Chambers of Commerce (BCC)

Dr Adam Marshall, acting director general of BCC called for market stability and political clarity following the referendum result.

"Businesses need action to maintain economic stability, a timeline for exit, and answers to their many practical, real-world questions about doing business during and after this historic transition.

"Firms want help to get Britain back to business at a time of great uncertainty. The health of the economy must be the number one priority – not the Westminster political post-mortem.”

Association of British Insurers (ABI)

Huw Evans, director general of ABI, said: 

“Customers should remember we remain part of the EU until the process of leaving is complete and they should therefore avoid hasty decisions about their financial matters.”

Federation of Small Businesses (FSB)

Mike Cherry, national chairman at FSB, said: 

“Access to the single market means access to 500 million potential consumers, more than 26 million businesses and is worth 11 trillion euros. 

“We call on the government for clarity on the impact to smaller firms who export wider afield through EU FTA agreements.”

Confederation of British Industry (CBI)

Carolyn Fairbairn, director general of CBI said that the EU result is a turning point in history:

“Many businesses will be concerned and need time to assess the implications. But they are used to dealing with challenge and change and we should be confident they will adapt.”

Contact us to discuss how the EU referendum result could affect your business.