The EU Referendum Concludes in Brexit

Britain’s votes have been cast, the referendum result has been declared, and the Prime Minister is stepping down.

A brave decision has been made to leave the controlling security of the EU and strike out on our own. Whilst the short term is uncertain, Britons are resourceful and tough and by leaving the EU, there is no reason why greater opportunity and prosperity should not await us.

The new today, 23rd June, indicates there will be no rush to exit and until we file under Article 50 of the Treaty on European Union we are still a full EU member. Thus, for the foreseeable future, it is business as usual. Even when we do file we have two years, possibly more with EU agreement, so nothing is going to be enforced overnight.

It cannot yet be predicted what the long-term ramifications for the economy, our financial markets or trading will be. With the stepping down of the Prime Minister, David Cameron, the government will need to reassure the British public and work to protect the strength and stability of the economy. The negotiations of the exit will, almost undoubtedly, require changes to integral parts of Britain’s economic and trade policies and we wait to see if this brings the freedoms from EU regulation hoped for by the UK electorate.

Businesses will need to consider changes to how they conduct their trading and ensure their financial security. Myers Clark, therefore, recommends you do not act in haste and seek professional advice on any related decisions to the EU referendum that you might be considering.

At first glance, and for many business owners the EU Brexit will be of great concern and this need not be the case. The UK’s departure is also an opportunity and we urge all our clients to look at this in a positive light and actively seek out the opportunities which will undoubtedly present themselves.