Reaction to Brexit

The UK has voted to leave the EU. Following the result, Prime Minister, David Cameron announced his resignation.

What will Brexit mean for business and individuals? Time will tell. Is it a time for opportunity or fear? It’s an historic decision. It’s unchartered waters. While the debate and fallout continues, here is a snapshot of views from the property and business world.

Boxpod’s Tommie Crowson believes this is a Rennaisance for Britain

“Will it change the face of business? No. We still have to trade with people. We have never fully come out of recession, we live in one day to day. We just have to get in with it. The economy fundamentally will not change.

“Leaving the EU will help new businesses grow. People will feel they can have a go at starting a business venture and not be tied to legislation.”

The FSB is calling on the Government for clarity on what these decisions now mean for business, including how businesses will have access to the single market and the free movement of people and trade.

FSB national chairman Mike Cherry continued: “Nearly a quarter of FSB members export, with the majority exporting to the single market. 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.

“These are crucial questions that need to be answered swiftly to ensure the UK’s 5.4 million small business confidence does not fall any further, which is already at the lowest levels since 2013.This includes clarity over the practical implications of this result on how smaller firms do business”

The FSB will continue to be a constructive partner in any upcoming negotiations, ensuring the voice of smaller firms is heard loud and clear.

There’s a call for calm from the National Landlords Association. CEO Richard Lambert said: “Let’s just everyone, take a long, deep, calm breath.  Leaving the EU is completely unknown territory, and jumping to conclusions isn’t going to help anyone.

“We welcome the Mark Carney’s steadying words and his reassurance that the Bank of England and the Treasury have extensive contingency plans in place to ensure the country’s financial stability. 

“Any knee-jerk reaction will have a real impact on our members’ mortgages, tenants’ rents and overall confidence in the market.  So we would urge the policy as regards to interest rates should be, to continue the Prime Minister’s analogy, one of steady as she goes.” 

What do you think? Let us know your views on Brexit