Hertfordshire business leaders: ‘All firms face uncertainty’

The EU
The EU

Hertfordshire’s businesses have warned that firms across the county face an uncertain future after yesterday’s Exit vote in the EU referendum.

Yolanda Rugg, chief executive of the Hertfordshire Chamber of Commerce, called for clarity from Westminster and said this was all the more important after David Cameron announced he was resigning as Prime Minister.

She said: “For most businesses, change will not be immediate, but all firms face some uncertainty in the medium term. Businesses will be affected by fluctuating levels of confidence, investment, recruitment, growth and also migration. There needs to be a detailed plan to support the economy and to avert a prolonged period of uncertainty.

“Businesses need political clarity, now made more imperative by the announcement of our Prime Minister to step down. Businesses will expect swift decisive action from the government and the Bank of England to stabilise the markets. We are pleased that the Governor of the Bank of England, Mark Carney, is already addressing this. The health of the economy must remain our first priority.

“We will be inviting responses from our members across Hertfordshire and we will be reassuring them that the Hertfordshire Chamber of Commerce will be working hard on their behalf. Together with the UK Chamber network, we will maintain our high levels of support and guidance, especially for exporters not only to the EU, but with nations around the world.

“We must look upon this as a catalyst for greater trading opportunity with a world that is fast changing through technology and expanding cultures of sharing. The Government must settle quickly so that it can maintain economic stability.”