However, whoever leads the party will have a challenge on their hands, and the party’s future successes may be in part determined by how the EU referendum goes.
Furthermore, the party will likely take up the cause of fighting for electoral reform, something the Liberal Democrats used to be the main proponents of. It is one of the few issues that the parties agree upon. Nigel Farage has recently criticised the first past the post system - according to the Independent the UKIP leader called the system 'bankcrupt'. UKIP got around four million votes on Thursday, but only one seat.
Nonetheless, the party is in a good position for the next election. On Thursday UKIP may have just got one MP, but the party came second in 120 seats across the country, including in South Thanet where the party leader missed out on a seat, as well as in seats across the north of England.
Speaking on the Sunday Politics, UKIP’s only MP Douglas Carswell said that the party, having come second in 120 seats across the country, would have a good chance in the next election. He also said that his party should make the case for ‘radical, popular capitalism’.
The election did not go as well as expected for UKIP, but the party did get almost 13% of the vote. And even if the 'out' side loses the upcoming EU referendum there's still hope for the party: just look at the Scottish independence referendum when a 'no' vote resulted in a surge in SNP support.