FEAR of the unknown is a common factor for south Essex business owners as they come to terms with Britain's decision to leave the European Union.

Firms which trade in Europe admit they are concerned about how the vote will affect them.

For Blyth Workcats, a global boat manufacturing company based on Canvey, a third of its trade comes from foreign markets.

Stuart Davidsen, general manager, said: "It will all depend on what the Euro does and what the Euro rate to the pound will be. We will always turn things into a positive.

“It’s not the vote we were hoping for but it is what it is. I hopefully believe if the Euro does strengthen it will increase our foreign market, but only time will tell.

“There will be no short term effects, but long term it’s about whether we can increase our trade abroad. It’s the uncertainty which is a worry.”

Philip Miller, executive chairman of Stockvale, which runs businesses in Southend including Adventure Island, does not believe the decision will make a big difference.

He said: "This is democracy at its best. I just hope our leaders have the ability to crack the UK the best deal possible.

"I believe the referendum result will have no effect at all on our day to day business - it is business as usual as far as I am concerned. In fact I fully expect taxes to be lowered.

“We will now be able to afford to spend our money on ourselves. It is small businesses that create the wealth in this country - not the bankers and the big corporate businesses."

Colin Gray, managing director of Rossi Ice Cream, in Southend, added: “I think it’s very early stages to know how it will effect businesses. However, the exporting side won’t affect us at this point because we don’t export out ice cream.

"There may be some future development plans for that, but it will fit in with when we are out of the EU. It’s at the very early stages so we can’t tell how it’s going to affect us."

Denise Rossiter, chief executive of Essex Chambers of Commerce, said businesses need direction from Government about the next step.

She said: "In the wake of the electorate's historic decision to leave the European Union, the immediate priorities for UK business are market stability and political clarity.

"Some businesspeople will be pleased with the result, and others resigned to it.

"Businesses need action to maintain economic stability, a timeline for exit, and answers to their many practical, real-world questions about doing business during and after this historic transition.

“Firms want help to get Britain back to business at a time of great uncertainty. The health of the economy must be the number one priority – not the Westminster political post-mortem.”