British Prime Minister Theresa May and German Chancellor Angela Merkel attend the EU summit in Brussels on March 9, 2017. Photo: Reuters

As the UK officially launches the Brexit process, business leaders are issuing calls for prudence in the negotiations.

On Tuesday, forty European business lobbies representing companies from 34 countries issued a statement in support of a post-Brexit settlement that would allow for a smooth transition and preserve the integrity of the single market, reports the Financial Times.

The Japan Business Federation, whose members include Toyota and Hitachi, is also reportedly preparing a communiqué pleading for careful consideration of the impact on the economy during the negotiation process.

There are some signs that the UK government is listening to these concerns, as reports indicate that they are backing away from Theresa May’s comments that “no deal is better than a bad deal.”