The Birmingham business community has been reacting to the news that the UK is to leave the European Union and Prime Minister David Cameron has resigned.
There has been a mixed bag with some calling it "an opportunity for those who know where to look" while others have said the West Midlands must maintain investment into the region.
Adam Ramshaw, head of the Birmingham office of property consultancy Lambert Smith Hampton, said: "Today's announcement is not what a lot of investors and developers will have wanted.
"However, while it's true that investors dislike uncertainty, history tells us that changing markets provide opportunity.
"As politicians figure out what the consequences are, the lack of an obvious market consensus in the short term presents opportunities for those who know where to look."
Lord Kumar Bhattacharyya, founder and chairman of WMG, the manufacturing arm at the University of Warwick, said we needed to maintain investment in the West Midlands as afr as possible.
"I suspect that inward investment may be difficult in the short term but hopefully will continue to come through in the long term," he said.
"I do not believe the decision will have any effect on Jaguar Land Rover's investment decisions albeit there are implications in terms of the strength of sterling, sales to Europe and the import of parts."
Martin Chitty, employment partner at Birmingham law firm Gowling WLG, took a more philosophical viewpoint.
"In the very short term, there is going to be no change at all - we have not left, there is no brave new world but one is, or may be, on its way," he said.
"The issue here is going to be about the reforming zeal and position of the post-Brexit government."
Rowan Crozier, chief executive of Birmingham-based precision pressings firm Brandauer, called the Brexit vote disappointing and something which would "accentuate a period of political and economic instability".
"The dreaded 'uncertainty' is here to stay and will be something else that UK manufacturers have to overcome if we are going to continue to execute our growth plans."
Matthew Hammond, regional chairman at financial services firm PwC in the Midlands, said there would be significant implications for businesses as a result of Brexit.
"History has taught us that UK business is adaptable and innovative when confronted with new challenges and opportunities," he added.
"There will be significant uncertainty over the coming months as the detailed political and legal issues are worked out, and business confidence may be impacted."
Tony Hague, chairman of the Midlands Assembly Network, said now was not the time for knee-jerk reactions and it was important to assess how the new political and trading landscape would develop.
"There will undoubtedly be levels of uncertainty and, as manufacturers, we have had to deal with this a lot in the last nine months and will continue to be positive in our approach to winning new work with our partners both in the EU and across the rest of the world."
Jason Wouhra, chairman of the Institute of Directors in the West Midlands, said the body could not avoid the fact an exit was not the result the majority of its members wanted.
"It is now imperative that our political leaders manage the transition as smoothly as possible," he said.
"The weeks and months ahead are going to be a nervy time for business leaders, so they have to know the Government is focussed on maintaining stability while a new relationship with the EU is established."
Sarah Riding, commercial partner at the Birmingham office of law firm Irwin Mitchell, said that leaving the EU would fundamentally impact on business trading relationships.
"Even if the direct impact is delayed for the negotiation window before the UK formally withdraws, contracts will be affected by the uncertainty in the interim.
"Where there is dependence on EU trade, as well as the likely effect on exchange rates and cost implications together with possible legislative change, the viability of a contract may be impacted."
Peter McLintock, corporate partner at law firm Mills & Reeve, said that, although there might be a period of shock, uncertainty and possible instability, there was a potential for enthusiastic mergers and acquisitions activity within the Midlands.
"For those feeling uncertain and pessimistic, I'd say you underestimate the corporate world at your peril," he said.
"We've been battered by recession, a shift in working patterns, potentially been held back by EU law and yet businesses looking to grow through M&A have shown themselves to be almost bullet proof.
"Banks could be slower to form a more positive view but there is the potential for enthusiastic M&A activity as non-EU companies look to take pieces of independent UK businesses."
