Rich Preece, Europe VP and managing director of Intuit QuickBooks says that, after today’s vote, there will be a transitional period while the UK negotiates an exit agreement.
‘It is possible that negotiations may continue for several years so it will be business as usual for now, but SMEs will have to monitor how the landscape is changing,’ he says.
‘One thing is for sure, throughout this period, managing finances is as important as ever. Whether this means a laser focus on forecasting, a revised approach on expenditure, exploring additional sources of funding or keeping overseas clients on side, putting the bottom line first remains key.’
Jason Kitcat, head of policy and public affairs at Crunch Accounting hopes that the government will move quickly following this result to set out its exit plans to minimise uncertainty for the business community.
‘At the heart of negotiations to leave the EU must be how the growth and productivity of freelancers, contractors, the self-employed and entrepreneurs will be supported in the new settlement,’ he adds.
Despite the panic in some quarters, it is important for businesses to avoid a knee-jerk reaction following the decision to leave the EU, says Julie Adams, senior partner at Menzies LLP, saying that,