A FAMILY business has lost thousands of pounds after Britain voted to leave the EU, as the impact of Brexit continues to be felt in Stroud.

Paul Rowley, director of Sterimatic Worldwide, based in London Road, Stroud, says he has been shocked by the referendum result and how quickly it has affected business.

“You always make allowances for exchange rate fluctuations but we did not foresee Britain leaving the EU,” he said.

“It was an instant effect, almost overnight we lost thousands of pounds.

“The future of the company is secure but we have ongoing concerns about what the impact of Brexit may be on our business and how we are perceived by our European friends.

“We are pro-European and the existing trade rules worked well for us.

“It is important that any new trade agreement with the EU does not add complications such as customs clearance and VAT payments which may give clients reasons to purchase more easily from within the EU.”

Mr Rowley said the company, which has its own unique range of animal health devices which are designed and manufactured in Stroud, also imports devices.

They supply to the UK and export globally and their imports were instantly affected by a significant drop in the value of the pound and the economic uncertainty of Brexit.

It comes after organisers of Stroud Fringe festival were hit by a £25,000 funding shortfall following the Brexit vote.

Organisers of the fringe said two of their big business sponsors put their funding on hold due to economic uncertainty created by the referendum.

They issued an appeal for help to fund the festival and several businesses came forward to help secure the future of this year’s fringe.