Following the Brexit vote, the FAI carried out research into the potential effects of Brexit on different sectors within the Scottish economy. The study covered the various outcomes of Brexit and how it could affect Scotland. A bad outcome for Scotland could result in a reduction in GDP of £8 billion, jobs by 80,000 and wages an average of £2,000 per year. While the report showed that a Hard Brexit could lead to problems, it was stated that some sectors in Scotland would fare quite well, when compared to the rest of the UK. In August 2018, the FAI has published a survey of Scottish businesses on their preparations for Brexit. The survey found that 44% of the Scottish businesses had noted a negative impact since the referendum on European Union membership.