Commenting on the General Election result, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), said:
“After two long years of elections, referenda and wider uncertainty, many businesses were doing their best to ignore the noise of politics – up until today.
“The electorate’s split decision generates further uncertainty for business communities, who are already grappling with currency fluctuations, rising costs, and the potential impacts of Brexit.
“The formation of a workable administration that can give voters and businesses confidence around economic management must be the immediate priority.
“Whilst companies have for many months done their best to screen out political noise in order to focus on their own operations, this result will prove much harder for UK businesses to ignore. The swift formation of a functioning government is essential to business confidence and our wider economic prospects.
“Businesses are adept at forming alliances and coalitions when important interests are at stake. We should expect the same of our politicians.”
On the timetable for Brexit negotiations, which are scheduled to begin in less than a fortnight, Dr Marshall said:
“No business would walk into a negotiation without clear objectives, an agreed starting position, and a strong negotiating team. It is hard to see how Brexit negotiations could begin without answers on these important questions.”