Derbyshire and Nottinghamshire business leaders says the outcome of the General Election means ‘yet more uncertainty’ for the country.
The Conservatives will be the largest party after Thursday’s snap poll called by Prime Minister Theresa May - have fallen short of a majority.
Scott Knowles, chief executive at East Midlands Chamber, said: “Business in the East Midlands has been doing its best to carry on doing what it does so well – creating jobs and wealth - despite the upheaval arising from two General Elections and the EU Referendum in the past two years and the impact they have had on confidence and markets.
“But this morning’s news that we are to have a hung Parliament, yet more uncertainty and a weakened position for negotiating Brexit, will leave many wondering what comes next.
“Business can’t continue to grapple with currency fluctuations, rising costs and the potential impacts of Brexit. The business community needs political stability, which has been sadly missing over the past two years, so that it can continue to invest with confidence in innovation, research and development, staff, training, property and plant. This result will prove much harder for UK businesses to ignore.
“The swift formation of a workable administration that can restore business confidence, particularly with Brexit negotiations due to formally start in just ten days, must be the immediate priority.”