logo

Impact of Brexit on European Union - PDF

   

Added on  2020-11-12

32 Pages11205 Words129 Views
Impact of the BrexitReferendum on the growthrate of start-ups/Entrepreneursin West London

ContentsTITLE:.............................................................................................................................................1CHAPTER 1: INTRODUCTION....................................................................................................11.1 Overview................................................................................................................................11.2 Background............................................................................................................................31.3 Significance of research.........................................................................................................41.4 Aims and objectives...............................................................................................................51.5 Research questions.................................................................................................................51.6 Gantt chart..............................................................................................................................6CHAPTER 2: LITERATURE REVIEW.........................................................................................72.1 The statistical data of start-ups in West London from June 2013 until now.........................72.2 How has business been impacted from the Brexit referendum............................................13CHAPTER 3: RESEARCH METHODOLOGY...........................................................................153.1 Research Philosophy ...........................................................................................................163.2 Research strategy.................................................................................................................163.3 Research design ..................................................................................................................173.4 Significance of research ......................................................................................................173.5 Ethical issues .......................................................................................................................173.6 Research Method ................................................................................................................18RECOMMENDATION.................................................................................................................25CONCLUSION..............................................................................................................................27REFERENCE.................................................................................................................................29

TITLE:“Impact of the Brexit referendum on the growth rate of start-ups/Entrepreneurs withinWest London”. CHAPTER 1: INTRODUCTION1.1 OverviewResearch is known as a detailed analysis of a specific concern through application ofscientific and statistical method. This will help in collection of important and reliableinformation which contributes in enhancing decision making for attaining desired results. Thisresearch is based on the impact of Brexit on European union as well as on the growth of start-upsin West London (Goodwin and Heath, 2016). UK affected directly by Brexit regardingexpanding business structure as well as acquaint new ventures. Major impact of Brexit on EU isresults to be economic alteration as well as pound fell its values and struggled to recover theirposition in a economy over the years. These procedures has direct impacts start-ups as well assmall enterprises. In June 23, 2016 British leaves European union which is termed as Brexit. Inthis process, Referendum takes a part that determine voting procedure on the basis of individual'sopinion in the respect of UK to should remain or leave European union. The ratio of thisreferendum is deliberate as 51.9% to 48.1% in which maximum individuals are in the favour ofEU leave. In the year of 2016, Britain voted to leave the European Union and the UK establisheditself as one of the best countries for entrepreneurship but it also made some unknown factorsimpacted on the country. The business get affected by the Brexit in terms of import and exportlike there is a small business in the European Country that imports the raw material from theUnited Kingdom but the increased cost of suppliers made a major impact on the businessbecause the British pond fallen down from the past 31 years. In the UK the inflation rate risen upby 2% (Green and et. al., 2016).The entire scenario has changed after regulating the Brexit theinflation rates increased that's why there was a increased change in every product and serviceshas noticed. This become costly for the both segments to run their business with minimum costs.They have to pay the increased amount to the suppliers to cross the boundaries. Brexit evokedthe negative effect on the UK economy. The small and medium size firms are likely to bestricken by the Brexit as they are considered as backbone of the economy. In the UK there are1

5.7 % small and medium enterprises which are 99% private sector enterprises and provides 60%employment. It is contributing 73% in job creation in the UK (Hobolt, 2016). On the other hand,Brexit perceived negative effected on the innovative and export oriented companies which wasthe expected to give high growth to the country. There is a disruption among positive andnegative impacts upon the UK and EU because business is facing troubles and UK is going torise in some areas. For a start up and a business enterprise, it is required to build analyseeconomy stability in order to getting enduring benefits. In west London, economy faces variouscrises after the Brexit referendum. In this duration, small and large both firm faced toughsituation in terms of funds, stability as well as multinational trading approaches. Major issue thataffect economy condition is about diminishing the value of currency that affect growth as well asinflation rate. The economy of UK is known as one of the best platform to start their businessventure at astronomic as well as midget level but this were become challenging due to unknowneffects of Brexit. According to some major research it has been analysed that after Brexit,Economy of EU and UK takes a long period of time to recover and get effective growth. Now, Small business organisation are more concerned about their future development aswell as growth. In UK index of business pessimism are brutal from +5 to -8 (Vasilopoulou,2016). These activities are raising inflation and maximise political uncertainty that has directeffect on growth of enterprises. In the study of economy development process, it determined thatbusiness conditions would be drop over the coming year if small business are not getting propergrowth. Capital economies are found are that government of UK needs to implement negotiatingprocess with other economy as with EU too because this is the only economy that rendermaximum revenues from past years. Major results that UK and entrepreneurs face afterreferendum of Brexit are reduction of resources and innovation, lower level of external funds,lack of investment and issues in future growth. Through this, future plans and objectives of smallbusiness firms and ventures were directly got affected. As its impacts, economy of UK facesnumerous issues and problems to get proper growth again. This process will take a long term ofperiod in west London to maximise growth rate about Brexit for future success. In this process,government of UK needs to take initiative toward such small as well as medium size businessenterprises. 2

1.2 BackgroundThe research topic is based on Impact of the Brexit referendum on the growth ofEntrepreneurs. For a business organisation, it is required to analyse economy condition and itseffects on their procedures. In UK, small and large scale enterprises face various issues in orderto build their own image after Brexit and its impacts. These in activities create crises in economyin terms of future growth. Referendum in Brexit is affect several activities as raising inflationand exploit political uncertainty that has direct effect on maturation of enterprises. UK was themost growing economy that is very liable for new business organisation in terms of developmentas well as growth. But after Brexit, this economy got affected in the term of financial as well asdomestic issues. Small and medium size enterprises are the backbone of UK economy that areaffected by such terms (Portes and Forte, 2017). With such industry, expansion and size, UnitedKingdom can start-up will directly impact on Brexit. The volatility of currency is effect customerspending and purchasing power. Brexit has potential fundamental rewrite the rules andregulations where firm will perform business within UK nation. It can be analysed that Brexitdefine future large scale foreign owned production plan. The Brexit is largest factor whichdirectly effect on UK start-up and there are various economic events which continuously impacton all businesses. The full effect of Brexit is clear, simple and effective but UK entrepreneur hasmade appropriate operations under uncertainties in effectively. For this, government of UK needsto take initiative about manage funds to provide financial stability to such start-ups. In thisprocedure negotiation procedure of higher authorities takes a place in order to build stablerelations with economies to getting several as well as long term benefits. In UK history, Brexitwas determine as a most critical situation that affect its growth as some personal drives. Thisprocedure takes place on the basis of referendum on the specific ratings. It is also identify as amajor factor that determine positive as well as negative impact for a proper recommendation towork differently or in a optimistic way with a hope to get desirable outcomes easily (Hürlimannand et. al., 2016). In current time period, startup business are mainly worried about UK futureeconomy so they are vote last year of Brexit where new examination has been found. Brexit refera term that increase rate of inflation and enhancing persuasion ambivalent situation related to last12 months. This stands businesses which continue to abide by same EU rules and regulations sothey need to wait in future coming years and months. Such type of uncertainty is fixed by3

entrepreneur and business by taken all necessary actions and step regarding Brexit. This will alsomake an opportunity for the country in proper manner. The impact of Brexit on economy of government which has been analyzed majorauthorities surveys for more than 10,000 UK businesses (Clarke, Goodwin and Whiteley, 2017).Along with this, government has posses different question which are related to Brexit and it ismainly effects on their future company strategy associated intentions. In this, the debate wasgoing through such things where businesses has been divided during referendum but most of thecontend will evaluating results or outcomes effectively. Small business owners mainly voted forEU leave and at current time period they are discussing about future. This has been representsthat self employed analyzed so it is effective or good on given time period.1.3 Significance of researchThe main focus under the research activity is about gathering of information aboutdifferent aspects which helps in improvement of knowledge and contributes in attaining betterresults. There are many sources from where data is generated by researcher which are known asprimary and secondary. In primary research actual views of respondents are ascertained. Thisinformation is most reliable and authentic simultaneously unbiased in nature through whichbetter results are interpreted through with drive success in future period of time. The tools whichare mainly used under this method includes questionnaire, interview, online poll etc. Anothertype of source which is used for the purpose of conducting research is secondary. This type ofmethod is basically used only in the situation when there is lack of time and money. Here,information is gathered from different sources such as Articles, Books, newspapers etc. This typeof information is not much relevant to research topic because they are published in nature andrequited to identify the information as it is relevant to their research topic or not. Both thesemethods have their own advantages and disadvantages which helps the researcher to apply allthese information in process of effective accomplishment of their desired objectives. Here, in thisreport research is conducted through upon the topic about the “Impact of Brexit referendum onthe growth rate of start-up's and entrepreneurs within West London”. Brexit is the situationwhich arises due to exit of UK from European Union. Referendum is refers as the conceptrelated to voting (Ramiah, Pham and Moosa, 2017). In support of exit around more than 51%votes are received from the individual of society. Brexit has huge negative impact upon the4

growth of economy due to emergence of the situations which are arise because of this reason.This was forces the government of nation has to provide more emphasis on bringing up changesin their previous policies and formulate such legislations which provides support to theindividuals of society that they disburse their efforts in development of economy of nation as awhole. The importance of this concept is understood from this fact that government of UK takemany new initiatives regarding promotion of small entrepreneurs and start-up businesses. In thisregard, they start providing subsidies to the new entrepreneurs who start their own businessthrough application of new ideas. Also, they bring changes in taxation policies for smallentrepreneurs. Such changes are made on the basis of turnover of organisation and provideconcession to them on their earnings. This step of UK government has huge importance on thedevelopment of society and economy (Oehler, Horn and Wendt, 2017). There are large numberof employment opportunities are created which helps in reduction of unemployment rate andimprovement of their living standard. Simultaneously, this was contributing their effort in thedevelopment of economy through bring high flow of cash from through various investors presentwithin and outside the nation. This was provides the opportunity to the individuals of society isearn large number of profits and income and become self-dependent. In future this will havehuge positive impact upon the development of society and economy and become strong anddeveloped nation. 1.4 Aims and objectivesResearch Aim: “Impact of the Brexit referendum on the growth rate of start-ups/Entrepreneurs withinWest London”Research Objective:To gain and produce results to determine the growth rate of start-ups within West LondonTo investigate the impact of the Brexit referendum on start-ups within West London andto provide a hypothesis in relation to the findings.1.5 Research questionsWhat is the statistical data of start-ups in West London from June 2013 until now? How has business been impacted from the Brexit referendum?5

1.6 Gantt chartThis is a most effective method of research that assist to manage activities in specificmanner. Gantt chart is a graphical representation that used to frame task in accurate manner. It isa necessary procedure that manage working approaches on the basis of beginning to the finishperiod. In this, manager of firm plays a most important role in order to analyse employee’s skillsand effectiveness in order to distribute work in different department for getting desirableoutcomes. Through this, work of project can run smoothly to completing activities properly. Inthis reporting methods, details are usually managed by excel or graphical format to gettingauthenticate information of full procedure (Matti and Zhou, 2017). All these in activities made aproject authentic and specific in order to getting proper information’s. To manager a task orreport, it is required to build a proper team work in which each employees assist to manageactivities to accomplish them at decorous time period. The coordination between employeesassist to do task in authenticate manner to analyse proper information by specific resources. Aproject also required a measurable, understandable as well as quality information that concludedwith certified sources. In this, a team always contribute an effective service to gather properinformation, manage activities and getting proper conclusion. In this procedures, some otherelements play a most important role as - Time management – Gantt chart always used to manage task and activities at a propertime period. For this, employees of a task management activities are schedule project in specificmanner from beginning to ending date. In this project, employees are requiring to get data toanalyse Impact of the Brexit referendum on the growth of start-ups from different sources thatprovide authentic interpretation to others. These activities take maximum time to manageinformation in proper manner. Gantt chart takes a proper place to manage duration of collectingdata and implement them in project. Time play important role in everything and it is importantfor every organisation to complete their project on time within specifies time period.Communication – Gantt chart is a graphical representation in which employees areworks together to accomplish a task properly. For this, it is required that they communicateproperly to each other in order to gather effective data and relevant information’s. Through this,employees of a project can reduce conflicts and barriers that can affect their project managementplan. This is a most specific element of firm that assist in managing data and authenticinformation of data analysis method. It will be helping to motivate employees to manage6

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Brexit impacts on Foreign Investment
|6
|1280
|298

Brexit and its Impact on Tourism Sector
|13
|2734
|182

Brexit's Impact on Trade and Investment in Commonwealth Countries and UK's Aircraft Sector
|15
|4310
|418

Impact of Brexit on the Business
|6
|1443
|215

The Impact of Brexit on Theatre Shows of UK
|6
|1216
|199

Potential Economic Consequences of Brexit on British Economy, with a special focus on the Dairy Industry
|12
|2862
|194