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IoD Scotland responds to vote for Brexit

IoD Scotland responds to vote for Brexit

(updated 1217hrs 24/06/16)

Commenting on the outcome of the EU referendum, David Watt, Executive Director of the Institute of Directors in Scotland, said:

“It is now crucial that the transition out of Europe is handled as smoothly as possible, and that stability is maintained in the meantime.  What business leaders need is a combination of calm and clarity, which will assist them in getting on with business during the weeks and months to come, alongside establishing a new basis for relationships with our international partners.

“It is important to remember that Scottish businesses are robust.  We have weathered uncertainty and change before, and we will do it again.  It is now beholden on politicians to get past the campaigning, and work together to negotiate a strong deal with European leaders which preserves the ability of British firms to trade easily with the remaining member states and to guarantee the position of EU citizens working for UK businesses at present.

“Although we are not enthused about the idea of going through another independence referendum, we are encouraged by the First Minister’s optimistic tone this morning, and the efforts that will be made to work with other countries to underline Scotland’s strengths as a positive economic destination.”

Before the referendum, a survey of IoD members revealed that, despite concerns about the effect of Brexit on trade and access to skills, businesses leaders saw potential improvements to employment regulations. Half of directors thought that the UK could be an economic success outside of the EU.

The IoD will be running a snap poll of its members on what the referendum result means for business. The results will be released for publication on Monday morning.



Contact for further comments, or to arrange opinion articles or interviews:

Lesley Brydon  07771 630834 /

 The Institute of Directors

  •  The Institute of Directors (IoD) was founded in 1903 and obtained a Royal Charter in 1906. The IoD is a non-party political organisation with approximately 34,000 members in the United Kingdom and overseas. Membership includes directors from right across the business spectrum – from media to manufacturing, e-business to the public and voluntary sectors. Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies, third sector and public sector
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