Alex Salmond's resignation marks the start of huge economic and political change that are likely to take place over this important political year.
This comes as a shock, after he vowed to keep fighting whatever the outcome of the referendum. He said that his time as a leader was nearly over but that: "For me right now there is a decision as to who is best placed to lead this process forward politically.
"I believe that in this new exciting situation, redolent with possibility, party, parliament and country would benefit from new leadership”
The new elected leader of the SNP would also become Scotland’s First Minister, as a result of their majority in Scottish parliament.
Salmond was responsible for engineering the referendum and garnering supporters for the referendum which saw a record turnout of nearly 90% in some constituencies.
Salmond’s resignation is one outcome of a tumultuous few weeks. While the pound has fallen in recent weeks because of the potential damage that independence for Scotland might cause to the economy, the outcome resulted in a sharp rise for the currency. Politically it seems that, despite the result, big changes are set to happen.
The referendum came at the start of an important political year. Next summer will play host to the general elect, when British citizens are able to reelect their government.
The results of the referendum are likely to hold some sway over voters. Prior to voting, David Cameron was criticised for his reaction to the Yes campaign, and the way in which he attempted to gain support. Some feared that Cameron’s pleas were turning voters against the No campaign.
However since the referendum results were announced, Cameron has found higher favour amongst voters. He has supported a devolution of England, and has stated that he wants to introduce a system where the English will vote separately from the rest of the UK over issues that relate to them.
The Labour party is yet to openly support this proposed change because of fears it might mean that they lose their Scottish stronghold.
Salmond’s resignation is likely to simply be the start of huge political changes that are set to occur over the coming year.