Business with Britain after Brexit


Two months after the end of the saga and an agreement was reached – what is the balance? In fact, the Brexit story is not over at all. At first glance, it seems that there are no special changes in our country, perhaps because our trade with Great Britain is not large, but in fact the business has not remained untouched by the new rules of trade and relations.

And the worst thing is that the trouble for the companies is not over. On the contrary, business owners who trade with Britain say there is chaos, ambiguity and uncertainty.

According to British national statistics, EU exports to the UK fell sharply by more than 40% in January. Imports also decreased by almost 29%.

The collapse of trade is huge because Britain itself has failed to organize itself in time with its customs controls. As it became clear, the control of goods arriving on the Island from the EU is postponed for next year.

 Thus, the country’s economy is already behind by 3%, and 2/3 of the companies working in or with the UK suffer from slow or cumbersome exports and imports, more bureaucracy, more procedures and difficult administrative steps. And this leads to higher prices for a number of goods and services.

Bulgarian companies that trade and operate on the British market have already drastically reduced their production and activities. There are many Bulgarians who return to Bulgaria.

 In the next video you can see our conversation with Ivo Varbanov, who is a boutique winemaker. He reports a 50% decline due to Brexit and intends to focus on other markets.