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,

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Andi Lonnen, founder of Finance Training Academy Ltd
‘I have concerns regarding the impact of Brexit on my financial training company – if we enter recession again, as predicted, one of the first costs to be cut is always training.
When my training benefits so many people around the UK and provides work for my associate trainers, this would be a bad result.
I also recently started to deliver training in Europe and I’m not sure if this will now continue.
On the positive, maybe good financial training will now be in demand as companies work to find yet more ways to cut costs!’
David Raymond, managing director, Embark Resourcing Ltd
‘As an owner of two small businesses I am concerned for the future, but so long as we have clear leadership and the process of our departure from the European Union is carried out in a careful and considerate way, then we can make this a positive outcome for the United Kingdom.
Our focus should be on our trade agreements with Europe, but more importantly our trade and immigration with the commonwealth and the rest of the world’
Shak Zaman, founder of investment and accountancy firm Brookman
‘Today’s result has made London an unattractive place for start-ups. Lots

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