Looking at the UK financial sector, Senior Partner Gary Jeffery admits that "there may be risks if financial institutions lose passporting rights which presently allow for the sale of services across EU states without the need to secure local regulatory approval."

According to Frost & Sullivan, Britain could also see the departure of automotive plants from its shores if manufacturers cease to enjoy the benefits of tariff-free trade with the EU. Currency volatility could persist in the medium term given the uncertainty of the path ahead and if the devaluation sustains, we could see exports becoming more attractive, therefore benefitting UK based manufacturers.

Further the company suggests that although the results are a cause for concern, one must remember that they also herald the mark of a new beginning for the UK which will be influenced by a strong government policy and the success of negotiations with the EU and the rest of the world. We will have to wait and watch to see how the nation's growth story unfolds.

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