Stephen Sklaroff, director general of the Finance & Leasing Association (FLA) (pictured below), said: “We are at the beginning of what will be a long process of discussion and negotiation. As the Bank of England and Financial Conduct Authority have already emphasised, the current legal and financial regulatory framework for FLA members remains exactly as it was before the vote, and it is likely to do so for some considerable time.”

He added: “The UK has a strong and resilient financial sector and the FLA’s members will continue to make a vital contribution to the economy. The FLA will work closely with the government, regulators and other stakeholders to ensure that its members’ interests are properly reflected in discussions over the coming months and years about the possible market and regulatory consequences of the decision to leave the EU.”

Paul Goodman, chairman of the National Association of Commercial Finance Brokers (NACFB) (pictured above), stressed: “The UK is facing a period of considerable uncertainty, and small and medium-sized businesses will not be immune.

“Nobody knows how the result of the EU Referendum will play out, and its ultimate impact on the economy, but choppy waters in the short-term are almost guaranteed.

“The political events of the past 24 hours have the potential to shape the UK business landscape for many years to come. It's just impossible to know whether it will be for better or for worse.

“What we shouldn't forget is that the economy is robust and employment levels high and managed correctly, the result of the referendum does not have to trigger a replay of the Global Financial Crisis.

“Business owners, for their part, should not panic, but simply be vigilant and seek financial advice wherever appropriate.”

Goodman added: “Lending to UK SMEs in 2016 to date has been strong. The challenge now, for us and other bodies like us, is to ensure SMEs continue to receive the funding and support they need in uncertain times.

George Tonks, partner at Invigors EMEA (pictured above) said: “Pandora’s box has been opened.  The run up to this vote and the voting pattern itself shows the range of attitudes, which will be reflected in business and individual responses.

“We are into uncharted territory for the UK and its relationship with the EU with uncertainty for at least the next two years around divorce terms and how a future UK government will apply any new freedoms.

“The asset finance industry supports investment: many UK businesses have been holding back on investment because of the uncertainty and we expect that to continue, but others will see this as a good time to invest in anticipation of more freedom from Brussels.”

He added: “Invigors has a broad range of clients across the EU and other parts of Europe. The impact of Brexit will vary between these individual businesses and this will be a factor to consider as we work with each of them.”