But but but... tyranny and oppression from unelected bureaucrats in Brussels, curvy bananas and 300 rules on pillows. I've actually read on this very site that nobody in the UK has ever voted for the European Parliament.
A quick summary of the events to date: The UK PM went up to Brussels to "negotiate a better deal" by threatening to leave the UK because that had always worked before. Before going, he told the population that he would call for a vote on E membership if he didn't get another discount and a few more exemptions. The EU called his bluff this time around and he went back home without a special deal. Boris Johnson saw an opening to take the leadership of his party by running on the BREXIT side against his party leader. I don't think he ever expected the leave camp to win the vote, otherwise he wouldn't have "retired" the day after the vote. The full effects of that internal party politics gamble won't be known for another 2 years, but the price of non-local food has already started to creep up.
As for the leaving date, at this point the government may say that they'll trigger before the end of March 2017 but they may have to take some seriously nasty shortcuts to make it happen. The Supreme Court ruling on the appeal launched by the government won't be released before January 2017. The government is now considering sending a bill to trigger Article 50 before the Supreme Court ruling, which may trigger some interesting side effects.
I'm working in the financial service industry, and the biggest effect I foresee on BREXIT is going to be the foreign banks reducing their operations in the UK or even fully relocating them abroad. A lot of those banks are based in the UK because they can easily passport their financial licence to the rest of the EU. Once the UK is out, that's no longer an option. EFTA members can't passport financial licences, which is why UBS has such large operations in London. From discussions with my local financial regulator, they've been swamped with licence applications from the morning of June 24. So swamped that they have rented new office buildings and are recruiting new personnel to be able to process them in a reasonable time frame. While I do sort of understand that part of the BREXIT camp can see high-paying jobs leaving the country as a positive (possibly lowering the rents), I don't think they thought about the secondary effects (less money circulating in the local economy, secondary services jobs earning less or going away, ...).