Jason Wouhra // Wall Street Journal
Jason Wouhra, owner of food wholesale business, Lioncroft Foods PLC, photographed in Birmingham for The Wall Street Journal. The article assesses whether Brexit has done more damage to the UK economy that is currently reported. Prior to Brexit, Wouhra’s business generated up to a quarter of it’s annual revenue from markets in the EU. However, they have now stopped exporting to the EU altogether.
Leaving the EU has put the UK outside of the EU’s vast internal market of 445 million consumers and a customs territory that is bigger still. Wouhra said that the cost of hiring a customs agent to assemble the correct information for the products to clear customs isn’t worth it. He stated that “your profitability is knocked out of the window straight away.”