Effects of Brexit on UK Business and Companies (2018-2020)

Effects of Brexit on business and
company's in UK between 2018
and 2020

Table of Contents
INTRODUCTION ..........................................................................................................................4
About the topic.......................................................................................................................4
Research problem...................................................................................................................5
Research rationale..................................................................................................................5
Research aim and objectives..................................................................................................6
LITERATURE REVIEW ...............................................................................................................7
What is the concept of Brexit in context with retail businesses in United Kingdom.............7
What is the impact of Brexit on the growth of United Kingdom retail industry between 2018
and 2020...............................................................................................................................10
What are the ways used by United Kingdom retailers for overcoming the impact of Brexit
between 2018 and 2020........................................................................................................12
What are the strategies governed by government for overcoming the impact of Brexit on
United Kingdom retail industry between 2018 and 2020.....................................................15
RESULTS AND DISCUSSION....................................................................................................18
Concept of Brexit in context with retail business in United Kingdom.................................18
Impact of Brexit on the growth of United Kingdom retail industry between 2018 and 202019
Ways used by United Kingdom retailers for overcoming the impact of Brexit between 2018
and 2020...............................................................................................................................22
Strategies governed by government for overcoming the impact of Brexit on United Kingdom
retail industry between 2018 and 2020.................................................................................25
Methodology .................................................................................................................................28
Research philosophy.............................................................................................................29
Approach .............................................................................................................................29
Design...................................................................................................................................29
Data collection and analysis ................................................................................................30
Research strategies...............................................................................................................30
Research method..................................................................................................................31
Ethical considerations...........................................................................................................31
Validity and reliability..........................................................................................................32

Time horizon........................................................................................................................32
Research resources...............................................................................................................32
Conclusion.....................................................................................................................................33
Recommendations..........................................................................................................................34
Limitations.....................................................................................................................................36
REFERENCES .............................................................................................................................37

INTRODUCTION
About the topic
Brexit is defined as withdrawal of UK from the European Union. This is regarded as
acronym of British exit which is one of the historic movement took place in UK. Brexit is
associated with introducing chances of Britain to moving back from the European Union. The
nation is holding referendum in its European union on the date of June 23. Brexit is having
direct impact over retail industry of UK as the industry is facing issue of minimised customer
range (Acquah-Andoh, Ifelebuegu and Theophilus, 2019). Britain is associated with suffering of
minimised sales as due to implication of Brexit companies are facing different issues related with
business management.
Brexit has recognised that British live from EU that these are the decisions which are
related with UK economy and could be helpful in dealing with various economic concerns. This
is giving larger impact to various attributes of the nation in which income level of people is also
impacted. This decision is also related with reducing sales of the business in which profitability
of the organisation is minimised (Păun, 2016). Apart from this it has been analysed that trade
practices within the operation and function of the business has been minimised due to Brexit
implications and this tend to develop various trade agreements. The retail industry has seen
various trends due to Brexit implication as this is one of the historic decision which has
minimised growth of the organisation in between the year of 2018 to 2020. This research report
is going to provide significant aspect related with Brexit and implication of the same. In this
manner the research is executed on retail industry and could be linked with analysing such
effects which are seen due to Brexit. On the other hand the report is also discussing various
strategies that can be used by businesses in order to overcome with the threat of Brexit.
Under this research, primary research methodologies are used so that effective and
accurate information can be obtained in developing the research in prominent manner. Under the
research information would be gathered through providing questionnaire to respondents which
are managers from different companies. This way it will be helpful for researcher to acquire
benefits related with attaining research objectives. Using quantitative methods data is collected
through 30 respondents so that accurate experience can be examined related with research topic.

Research problem
After the implication of Brexit this is analysed that retail businesses are facing various
issues in managing their business as various factors are existed in limited manner. The major
problem with the Brexit situation is related with developing the business in such a way that they
can minimise the impact of Brexit and in this manner various complications are seen by the
businesses. The pertained problem with retail businesses in UK is related arising situation of
Brexit as after this customers have bifurcated (Egan, 2020). This is the major reason that retail
industry is required to develop such practices in their businesses which will lead into gaining
edge in respect of managing negative impact. The pertained problem with the industry is
associated with analysing the ways in which the industry may deal with such negative impacts
and acquire prominence within market scenarios. On the other hand as the industry of retail has
developed to immense manner as there are various trends which are used within the industry and
this has led into using of such trends which are helpful in giving higher fluctuation to customers.
Research rationale
The research is related with examining the impact of Brexit on retail industry from the
year 2018 to 2020. This is analysed that due to separation of UK and EU the major impact is
seen by the retailer existed within UK and EU. The research report is related with examining the
impact of Brexit within retail industry of UK (Bloom and et. al, 2019). The major reason behind
selection of this research is to fulfil dual perspective such as personal and professional. In terms
of personal perspective there are various activities which are going to be executed within the
research and using these perspective effective nature can be carried out and at the same time
overall judgement can be made. This research simultaneously aid the researcher in applying
various techniques so that researcher may develop their own personality in appropriate manner.
The other benefit within this research is related with improving knowledge in context of retail
industry and impact drawn over the industry in respect of dealing with Brexit scenario. In terms
of personal perspective the research is providing various skills to the researcher such as critical
thinking skills, research skills, analytical skills and many other so that the same can be used in
future researches so that to complete the same with higher effectiveness. This research will
develop significant edge in developing personality so that future can be developed by personnel.

Research aim and objectives
Research aim: To identify the effects of Brexit on the growth of business and companies in
between 2018 and 2020: A study on United Kingdom retailers.
Objectives
 To identify the concept of Brexit in context with retail businesses in United Kingdom.
 To determine the impact of Brexit on the growth of United Kingdom retail industry
between 2018 and 2020
 To examine the ways used by United Kingdom retailers for overcoming the impact of
Brexit between 2018 and 2020
 To ascertain the strategies governed by government for overcoming the impact of Brexit
on United Kingdom retail industry between 2018 and 2020
Research questions
 What is the concept of Brexit in context with retail business in United Kingdom.
 What is the impact of Brexit on the growth of United Kingdom retail industry between
2018 and 2020
 What are the ways used by United Kingdom retailers for overcoming the impact of
Brexit between 2018 and 2020
 What are the strategies governed by government for overcoming the impact of Brexit on
United Kingdom retail industry between 2018 and 2020

LITERATURE REVIEW
What is the concept of Brexit in context with retail businesses in United Kingdom.
According to Faure, (2019), Brexit is defined as an abbreviation of two words such as
Britain and Exit which is referred as process in which United Kingdom took withdrawal from
European Union. On the date of 31st January 2020 this decision took place which has changed
various decisions for the businesses. On this day the nation will hold the referendum on its
European Union membership. Brexit is having direct impact over retail industry as the
businesses had to minimise their range and they had to compromise in limited number of
customers. Retailer within Britain is facing issue of decreased sales as customers has become
away from Brexit and the impact is seen over the industry. Brexit has recognised as one of the
greatest decision for UK and this has diminished the overall economy to their major manner.
The decision of Brexit has develop such negative impacts as in context of UK and their
businesses national attributes are exerted which are associated with seen impact within various
industries and nation as well. Most of the trade policies within UK is related with developing
flexible policies and the decision of Brexit has immensely developed their boundaries in which
business functions have been developed in limited manner (Milne-Ives and et. al., 2020). The
decision has also influenced various industry but at the same time the major impact is seen over
retail industry. On the other hand, the decision of Brexit has impacted trade policies and
judgement within business operations. In this manner under Brexit there are various features in
which United Kingdom is still having incorporation such as European union law, EU customs
union and division of European political parties. This is regarded as the huge transaction in
which most significant source of UK has lost their identity.
United Kingdom is regarded as one of the prominent nation which opportunities are
being rendered to new venture as in context of developing the business and earning profits as
well. The UK is also associated with developing the measures linked with export as the country
is having several resources and using such resources businesses may grow and acquire aspects of
success. So far as concerned the data of the year of 2015 demonstrated that United Kingdom has
exported more than £133 billion merchandises to the European Union so that it can be
considered that decision of Brexit has regarded as one of the most critical decision which is
having high power of command within retailer of United Kingdom as now they are not having

such target audience. In the year of 2018 the decision of Brexit was initiated and that was the
time in which retail industry started to sunk as they are able to predict future as in terms of
minimised sales and customer as well. Similarly this decision has drawn negative impact on the
customer as well, as customers are also seeing limited opportunities due to the decision of
withdrawal. For 2 years the negotiation between these two places took place and at the end in the
year of 2020 t he decision took place which has left many people unemployed and shut various
businesses as well
According to Ranta and Nancheva, (2019), There are various advantages of Brexit to the
nation as the country will now have stability and prosperity within community in which the
nation may have higher opportunities to enlighten their name in global manner. On the other
hand, the country is enhancing their GDP which is stimulating wages and jobs. Besides this,
growing the internal market will lead into domestic demand and develop free movement of
labour, cost and wages. Similarly the decision has developed free access to consumer in which
consumers are getting their desired products and services due to option of customisation. On the
contrary, this decision has developed negative aspects for the businesses as the businesses are
now having limited access to the market and this will lead into minimising their market access.
For Britain, the Europe is associated with developing the source of foreign trade investment as
UK is considered as one of the financial centre therefore the businesses those have left Britain
will have to face issues related with minimised customers and sales as well. United Kingdom has
their own currency so the country is not required to refrain joining the European Union and in
the same manner business within UK is having such power to execute their functions.
United Kingdom is associated with the most developed e-commerce market in Europe
which is reaching to GBP 92 Billions in the year of 2020. United Kingdom is playing significant
role in cross-border transactions in which due to impact of Brexit online sales of the goods will
be impacted. As in the year of 2018 when the withdrawal of United Kingdom from European
Union took place then the major impact was seen on retail industry as stoppage is seen on future
online and offline transactions by the public. United Kingdom is playing essential role in cross-
border transactions and due to the impact of Brexit the sales would be face a decline as in
compared to past years. This is clearly stated that sales of retail businesses in United Kingdom
has decreased in which decline in overall revenue is the other complication which is seen by the
industry. With the effect of new agreement since 1st January 2021 various business operations