Andrew Moss, a self-identified Remainer and managing director of Horizon, reflects on the challenges faced by UK businesses post-Brexit. Despite his initial support for remaining in the EU, he now believes the country isn’t ready to rejoin, citing significant investments made to adapt to new trading conditions. His company, which once relied heavily on EU exports, saw a drastic decline in sales from 70% to 30% after the referendum, leading to severe cash flow issues.
Moss’s experience highlights a broader trend among UK businesses grappling with the realities of Brexit. Many have had to invest heavily in new structures, such as establishing subsidiaries in EU countries to navigate increased bureaucracy and costs. For Moss, the £1.5 million spent on adapting his business has created a competitive advantage, making the idea of rejoining the EU less appealing.
The implications of Brexit are evident in the statistics: UK goods exports to the EU remain below pre-Brexit levels, with many small businesses anticipating further reductions in trade if current rules persist. This situation underscores the ongoing economic adjustments businesses must make in a post-Brexit landscape.
As the UK government seeks to strengthen ties with Europe without reverting to previous agreements, the future of trade remains uncertain. Moss’s reluctance to support rejoining the EU reflects a sentiment shared by many who have invested significantly in adapting to the new normal, prioritising stability over potential shifts in policy.
Source: BBC News
