Entrepreneurial Traits and PEST Analysis for Successful Business Launch in UK

BA Business Management
assessment 1

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Pest analysis ................................................................................................................................3
Analysing the skills and traits of the entrepreneurs that leads to launch the successful business
in the UK......................................................................................................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The business base is rapidly changing due to the rise of technology, a reality that has
been restated by the effects of COVID-19. Entrepreneurs have been thrown into more
competitive environments against large industry with huge financial and intellectual resources.
This report includes the information about entrepreneurs and traits which could help them in
order to gain competitive advantage in market of the country which helps them in order to make
stability and navigate their way through. Pest analysis of UK also help the entrepreneurs. In just
few times COVID-19 crisis has brought a lot of changes in the companies and start-ups as well.
MAIN BODY
Pest analysis
The UK a country situated on the Northwest of Europe. Below is a description of Pest
analysis of country by which entrepreneurs get help to establish their business in the country
(Odey,2021).
Political: Political factor of the country defines the political stability of government and safety
measure in the country where entrepreneurs try to set their business. The country has the
powerful administrative system. Currently Boris Johnson and queen Elizabeth handle the
administrative system of the organization. Brexit which means exit of British from the European
union. This also affect the entrepreneurs of the country and for the start-ups. Because many
people have their own prospective regarding the Brexit and employment opportunity affect
because of this. COVID-19 affect the country very much and many organizations as well. It is
very clear that every business organization get effected with the changing policy of the
government. Political factor may include tax and tariff policy, trade restriction and most
importantly stability of the government which affect the entrepreneurs of the country.
Government made changes in casual zero hour labour contract impacting businesses and its
structure (KOEHLER, and et.al 2021).
Economic: Economic factor determine the country GDP and diverse economy by which
entrepreneurs get help to establish their business. This describes the stability of the economy, in
every business organization have to keep eye on the movement of the economy and impact of its
factor. Economic factor of the country include, interest rate, exchange rate, inflation rate and
employment and unemployment rate. Recent exchange rate of economy of UK impacted each