REMAINERS and leavers alike were urging the best possible Brexit deal as Theresa May hailed a “historic moment from which there can be no turning back”.

The prime minister began the two-year process of Britain’s withdrawal from the European Union yesterday.

Minutes after a letter informing the European Council of the UK’s intention to leave, Mrs May told the House of Commons that the government was acting on “the democratic will of the British people” expressed in last year’s referendum.

Among those watching the process closely will be those in financial services, which employ around 11,000 people in Bournemouth and Poole.

Bournemouth’s biggest private sector employer, JP Morgan, has said it could cut around 4,000 UK staff, although chief executive Jamie Dimon has also said he is unable yet to quantify the number of jobs that will go.

The chief executive of Dorset Chamber of Commerce and Industry, Ian Girling, said yesterday: “This is a historic moment. It is absolutely crucial that government negotiators listen to the views of business and place the economy at the heart of any future agreement.

“Business also needs regular communication and updates from the government about progress in negotiations to keep uncertainty at a minimum and maintain confidence.”

He added: “Undoubtedly there will be challenges ahead, and exciting opportunities too. Dorset businesses have proved themselves consistently resilient over recent years.”

Bournemouth University vice-chancellor John Vinney said overseas students would still receive a “whole-hearted welcome”.

“Our international staff and students, including our EU staff and students, make a vital contribution to BU and our local community. International staff and students, and our partners around the world, are key to our ambition for the fusion of excellent research, engagement with practice and high quality education,” he said.

“There are many questions for the higher education sector in the negotiations that are about to start, and we cannot predict the outcome, but the position of EU students who are already in the UK or planning to join us before March 2019 is a key priority,” he added.

Simon Boyd, managing director of Reidsteel in Christchurch – who chaired pro-Brexit group Business for Britain South West – said: “This is a pivotal moment for Great Britain to take control of its own destiny.

“It is an exciting opportunity to build a global Britain and develop new trade alliances with friends and partners across the world.”“The government is in an excellent position and we must enter the forthcoming negotiations with confidence to agree an ambitious trade agreement with our friends in Europe.

“The reality of Brexit may be a few years away but the business climate is already improving and the activation of Article 50 allows us to forward to look a positive and bright future.”