Business development · 24 June 2016

Defying small business groups and economists, Britain votes for Brexit

Brexit
The British public have voted to leave the EU
Despite warnings of a year-long recession by George Osborne and calls from leading entrepreneurs that the country is stronger within the European Union, the British public have voted for a Brexit.

The value of the pound against the US dollar fell more than ten per cent overnight as results came in from polling booths throughout the country, as British company shares being traded in Hong Kong also slumped.

The final result saw 51.9 per cent of votes cast in favour of leaving the EU, out of a total turnout of 46.5m. While Scotland voted by a margin of 62 per cent to 38 per cent to remain, English voters swung the other way with 53.4 per cent in favour of a Brexit.

Leave campaigner Boris Johnson welcomed the result, arguing that leaving the European Union will pave the way for a “moreprosperous and more secure future.”

britain can move forward in the spirit of the warm, humane and generous values that are the best of Britain, added Justice secretary and Brexit proponent Michael Gove.

Enterprise Nation founder Emma Jones urged small business owners to to work together and with trusted advisers, to continue on the road to growth and drive economic activity in the UK”.

“Small businesses are fast-moving and tenacious. They will rapidly respond to this result by looking at new markets and opportunities. They will continue to trade and innovate, she said in a statement.

MP Anna Soubry also remained optimistic. The minister for small business tweeted:


 
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ABOUT THE EXPERT

Hannah Wilkinson is a reporter for Business Advice. She studied economics and management at Oxford University and prior to joining Business Advice wrote for Kensington and Chelsea Today about business and economics as well as running a tutoring company.

Business development