Innovative businesses face problems posed by Brexit

Molly Scott Cato, Green MEP for the Southwest of England and Gibralter, took time out of a recent visit to Stroud to meet with two start-up businesses facing difficult challenges as a result of Brexit.

Antony Wolowiec from ‘When in Rome’ craft wine distributor and Humphrey Bacchus from Invivo, a bioscience healthcare company, are trying to manage their international businesses in the face of Brexit uncertainty.

‘When in Rome’, which imports wine from Italy but sells throughout the World is being forced to register the business in Estonia to enable them to continue trading without friction once Brexit takes effect. Antony Wolowiec said, “There will be increased red tape and cash flow challenges if we leave the EU, and we are trying to find ways to keep our company going”.

Invivo is being forced to stockpile supplies to avoid letting customers down with vital healthcare testing and nutrient services and may have to register in the Netherlands to continue building their European business.

According to Invivo CEO Humphrey Bacchus, “A drop in the value of the pound on leaving the EU would cause further challenges; we have already lost significant income from the drop that happened after the Brexit vote. This meant we had less to invest in growing our young business”.

Molly Scott Cato said “It is terrible that these wonderful Stroud based businesses, just now expanding their international markets, are being put in jeopardy by Brexit especially since Stroud voted heavily to remain in Europe. I believe it is still not too late to stop the damage to our businesses and communities from Brexit”.

Parliament has failed,” added Molly. “I am working for a People’s Vote as the democratic way forward. Leavers should not be threatened by giving the people a say now that we know the true cost of Brexit.”