A Peterborough business which supplies food to approximately 100 stores in the city has pulled out of a deal to expand due to the uncertainty over Brexit.
Europol, which is based in Enterprise Way, Bretton, has backed away at the last minute from opening in Luton due to Britain leaving the EU.
Company director Tarik Bayraktar, who came to the UK a decade ago from Turkey, believes the firm could struggle if Britain is not part of the single market.
He said: “I’ve been quite shocked, we were not expecting this outcome. I believe it’s going to affect our business a lot.
“We have suspended all our expansion plans. We were planning to open a store in Luton but we’re not going to open more stores or invest.
“We had nearly signed the lease agreement. We had done the negotiations but we stepped back because it’s too risky.”
Mr Bayraktar, of Bretton, said bringing in products from outside the EU is a slow process, and he is worried he could soon have the same problems importing from the single market if Britain is no longer part of it.
He said: “If we can’t provide products to customers at the right time we will be in trouble. As far as I can see everyone is in a really big panic.”
However, Jamie Martin, chief executive of TV shopping channel Hochanda, in Mancetter Square, is certain the result for Leave was a good one for the UK.
He said: “This is the biggest opportunity for this country since the post-war rebuild. I am not concerned about recent falls in the markets. What’s happening is short term and is about wealth creation. The falls we have seen are not that bad.
“In the long run we will be much better off as we trade more with America, Canada and Australia.”
Mr Martin said the UK “can outdo cities like Frankfurt and Munich,” adding: “The EU will not give us a bad deal. Our leaving is a major issue for them and is not as big for us.
“The EU sells more to the UK than we do to it.”