Responding to the announcement by the Prime Minister to resign and the decision by the UK to leave the EU, Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said:

“The events of the last 24 hours have been momentous and the effects have already been seen on the markets. Clearly the EU Referendum debate has been contentious, but we now call on the Government and all parties to bring stability for the business community. FSB calls 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.

“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”