How this English county is preparing for life after Brexit | CNBC Reports

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0:05We’re in Cornwall here in the U.K.

0:06This is a place that voted overwhelmingly for Brexit, and now it's dealing with the reality of life after the EU.

0:12The county of Cornwall in the southwest corner of England has received more than €1 billion

0:17from the European Union since 2000 to help boost the local economy.

0:21Here we found that some Cornwall-based businesses are jittery about the uncertainty around leaving the EU,

0:27so they’re making their own preparations.

0:29Rob Sanders and Colin Phillipson founded Glas, an agritech startup

0:33that helps farmers track data like food supply and animal health.

0:38They told us they created Glas to help Britain’s farmers who are worried about losing EU subsidies.

0:43It’s being set up in light of uncertainty from Brexit because people want a way

0:48to really monitor how they’re doing on the farm business

0:51and be able to improve their efficiency and ultimately their profitability.

0:57Farmers in the U.K. receive an estimated 50 to 60% of their income

1:02from direct payments through the EU's Common Agricultural Policy.

1:05U.K. officials have promised to continue subsidizing farmers after Brexit

1:10but in a rural area like Cornwall, there’s plenty of uncertainty over where that money will come from.

1:15Cornwall in the past has had quite a lot of funding from the EU.

1:17So I suppose we’re transitioning to where perhaps businesses like ourselves

1:21will be able to help generate the economy and keep it running nicely.

1:26Glas was created at a partly EU-funded incubator called Launchpad

1:30which is located at Falmouth University in Cornwall.

1:33It’s one of many businesses we found that's benefited from EU money.

1:38Between 2014 and 2020, Cornwall will receive more than €1,000, that’s around $1,200,

1:44per person in EU structural funds. That’s the most of any region in the U.K.

1:49Hi Fiona?

1:50Yes I am.

1:51Hi Elizabeth.

1:52Very pleased to meet you. Come in.

1:53We met Fiona Campbell-Howes.

1:55This is our office in Penryn in Cornwall.

1:57She moved from London to Cornwall 10 years ago where she launched her own copywriting agency.

2:02She received EU funding and support to get her business off the ground.

2:05Without it we wouldn’t be where we are today.

2:09I don’t think that the business would even be here, I don't know even if it would be more than me.

2:14Now Fiona is one face of a campaign that’s partly funded by the EU

2:18to help bring more business and investment into Cornwall.

2:21Cornwall has received quite a bit of funding from the EU, whether it's the university, or a business like yours.

2:26How fearful do you think businesses are that this is going to change now after Brexit?

2:31There's quite a lot of concern that there just won’t be access to

2:35the funding on one hand, but the support services on the other hand.

2:38There are lots of people here who are setting up their own businesses,

2:41lots of creative people who are setting up creative businesses,

2:44but don't necessarily have the kind of business management skills

2:47that you need, especially not to get a business off the ground.

2:50Fiona told us some businesses in Cornwall, like hers, have benefited from EU investment more than others.

2:56Just think of Cornwall’s fishing industry which sees the EU as an impediment to business.

3:00For now, many businesses here in Cornwall say they're short on detail

3:04when it comes to the actual outcome of Brexit.

3:06But they say they’re facing the uncertainty, and the reality, of life without the EU head-on.

3:16Hey everyone, it’s Elizabeth. Thanks so much for watching.

3:18Be sure to check out more of our videos over here.

3:20We’re also always taking your suggestions for future ideas

3:23so leave those in the comments section.

3:24Talk to you later!

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How this English county is preparing for life after Brexit | CNBC Reports

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