Brexit's Impact on Financial Services

This assignment delves into the significant consequences of Brexit, specifically focusing on its impact on financial services within the European Union. Students are tasked with analyzing various perspectives on this complex issue, including economic implications, regulatory changes, and the potential for future collaborations. The assignment encourages critical thinking about the evolving relationship between the UK and the EU post-Brexit.

The impact of Brexit on small
businesses in the UK

Executive summary
In this report, it has been undertake that UK is leaving the EU for making freely trade with
different nations. In this aspect, it has been analysis that overall growth can be ascertain for
implementing the new products and services by the nation to attract many customers. Further, in
this report, EU history has been taken which assist to analysis the business results and
performances as per the business requirement. Moreover, it assess the impact of EU leaving on
operations and performances of the nation so that it would be beneficial to attain the results and
performances.

Table of Contents
INTRODUCTION...........................................................................................................................4
2.1. History of EU..................................................................................................................4
2.2.Brexit................................................................................................................................9
How can UK leave EU.........................................................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16

INTRODUCTION
After a long time United kingdom decided withdrawn from European country. UK started
its withdrawn process on 29 march 2017. The term withdrawn was not negotiable so UK is fully
member of European Country. The process of leaving called Brexit. Now UK want to take its
name back from European country (Begg, I. and Mushövel, F., 2016.). UK started its leaving
process 29 march, 2017. Many countries are there who attached with the European country. All
the European country try to increase global market and their local market also. So all European
country make a group. UK is also the part of European country. All country are connecting with
European country. It is beneficial to all country and industries also. European country are the
most best supplier in country. All countries import and export their raw material from the
European country. British country make many rules to follow in European group. It is the major
export are of European country. All the company use the benefit of membership with European
country. Company make their policies and import the goods and raw material from the other
country. UK is withdrawing itself from the European country.
2.1. History of EU
The European Union was made by the Maastricht Treaty on 1st November 1993.
European make many rules and regulation related to European union. Many country were engage
with the European union (Ebell, M. and Warren, J., 2016). It was beneficial to the political and
economic way. It was also a political and economic group between European countries and
which made their rules and policies to implement. All the European member made their policies
to concerning with European member economic science, social group, laws and to some extent
security. Many leader made the European union. Many country attached with this group.
European Union want to made better relationship among all of countries. All country made a
group and started work with each other. One company want to do business so it should find
about the market on broad level, it has to find out about the competitor analysis. European Union
made by many country. After the evaluation in European countries they are doing proper work
on global market and help the poor country to achieve growth and make better global market to
increase the employment and the business (Gros, D., 2016).
 A Peaceful Europe – Begging(1945-1959)

The European group made to stop neighbours war in countries. It made a relationship
between big country and made rule to help their neighbour country. It is a big group of country.
Where all the country work with each other and follow the other country rules and regulation.
Countries make all the rules to make a successful European group in world. In 1950 the
European countries tried to supply coal and steel with other country and made a relation ship as
political and economical(Dhingra, S. and Sampson, T., 2016). The first six founding countries
are Belgium, France, Germany, Italy, Luxembourg and Nether land. In 1950 some countries
faced cold war between east and west. After that Rome creates a European Economic
Community to stop this war and made a common European market. Rome made this common
market on global level. It was very necessary to stop war between countries and made a proper
relation ship with other country. War is the reason behind the made countries group. It try to
made the economic, political relationship with others. At present time its working also. All the
countries prefer another country and many times one country give the load to another country to
purchase the goods, improve the medical facility, improve the safety policy of country (Moloney,
N., 2016). In the begging position all company signed on a agreement which is related the rules
and regulation of European country.
 1960-1969 (Period of Economic growth)
1960s it was the period time of economic evaluation in all over country. It was the
growth year of economic condition of countries. All the country made their economic rules to
follow. In 1960s all the country removed tax and charges of import and export to made better
relationship and created a easy trade. Country did not receive any charge, custom duty and other
charges in 1960. European country made a joint control also on food production which have
control over the food department and food production. It made for the supply of food in all over
countries. May 1969 was a great year for the students. In 1968 students faced the riots problem
in Paris. That time many changes took place and it called the '68 generation'. Country did many
changes related to society, community, and behaviour. It was the evaluation time of economic
condition of all the other country (Begg, I. and Mushövel, F., 2016). Country started the
evaluation after the 1960 when the global market was fully opened to do business. A Company
could sell its product to another country person. They had to work hard and made many rules and
regulation to do business on global market. Many times Company had to face fake people and
people also face the fake company. It was worth to the country. It also effect the relationship

between countries. Many fake countries play a negative role on the economic growth of any
country.
 In 1970-1979 (Growing Community)
1. Denmark, Ireland and United Kingdom join the European group on 1 January
1973, That time nine country connected with the European group. The Arab
Israeli war took place October 1979 and it was energy crisis and economic
problem faced by the Europe. Europe faced the end problem due to over through
of Salazar Regime in Portugal in 1974. General Franco died in 1975 in Spain
(Oliver, T., 2016). It was also a big reason. The EU made new policies for the
poor country and unemployed country. The EU made regional policy and started
that policy with the transfer a huge money to poor people and provide job to
them, and help to poor country which is unable to growth in future. The European
parliament improved its influence factor in 1979 to all citizen. People had right to
select their member directly. The EU made a law to protect the environment and
introduce the nations with nature and made a pollution free European Union.
 1980-1989 (Changing Face of Europe)
In 1980, Greece is the 10th member of European group. After the five years Spain and
Portugal also connected with the European union. In 1986 sixteen country joined the European
group. In 1986 single European act was signed (Bachtler, J. and Mendez, C., 2016). This act
main motive was create a single market to all country to improve itself and start the business on
global market. In 1989 the Berlin wall fall down and border between east Germany and west
Germany were opened to do business in first time in 28 years. It was the reunification of
Germany. The both Germany meat with each other in October 1990.
 2010-Today
The economic crisis strikes is very hard in Europe. The European Union helped several
countries to do their work without the difficulty and establish their banking union to make it
more safe and easy. In 2012 Europe union get the award of Nobel Peace Prize. Croatia was the
28th member in European group. Croatia joined the European union in 2013. that time all the
leaders want to remove the harm full emission (Arnorsson, A. and Zoega, G., 2016). European
election held on the 2014 and select the European parliament. Parliament made the new security
policy to improve the annexation of Crimea by Russia. European country made many security

policy to save the European country from the terrorist attack. Many terrorist activity took place
in countries to affect the political and economical condition of country. At present time all the
European member work hard to do business on broad level and make the new rules and
regulation to improve the market (Oliver, T. and Williams, M.J., 2016). Globalisation is possible
after the completion of European group. Globalisation means start the business with other
company which is situated in another country. All the company and organisation always care
about the globalisation. So company make many rules and regulation and full fill all the
requirements of global business. Many times company have to change their business strategy to
get profit and start the business easily. Country try to improve itself to make great economy, to
make great financial system, to make the privatisation in private sector, increase the employment
on global level, make the country law rules which is beneficial to do business. It is mandatory to
do business with specific purpose, specific reason, and complete on particular time to make
relationship and trust in business (Jensen, M.D. and Snaith, H., 2016). All the company try to
improve itself and make a better relationship with another country and company. It is very useful
to economic point of view, financial point of view and other uses on global sector.
Relationship of UK and EU since 1973
In 1970 conservative won the prime minister election of united kingdom and Edward
Heath became the prime minister of united kingdom. Anthony barber and Sir Alec Douglas
homes were have power to carrying UK'S adhesion. Three principle made for doing proper work
one is Acquis Communitarian had maintain and it means everything were achieved by the EEC.
A huge agreement opened a way for economic and monetary union, Transitory measured the
agriculture policy of European country. Negotiation were hard to do with other country.
After the two years of Britain joining, It was started the study towards exit. UK
Continued its membership and try to made relationship with European union. 67% people want
to stay UK in European Union. European union asked the question from public that the UK
should connect with the European community and 67 % people were agree in this
favour(Shaxson, N., 2012). Only two countries voted no these countries were Shetland and
Western Isles.
The UK was the third poorer country in European Union but it was the biggest
contributor in Eu budget. Which was the 70% of total expenditure. UK Joined the European
economic union in 1973 as the sick country of Europe country. After the 1960 France, west

Germany and Italy these are the three funder member of the closest size of UK. In 1958 when the
EEC established and UK entered in 1973, that time only three country have the 95% growth in
gross domestic product but UK had only 50% growth in common market. After the joining the
EEC membership UK achieved more growth comparison of other country. UK achieved the
higher growth between 1973 to 2013 (Oliver, T. and Williams, M.J., 2016). After connected with
the EEC group Britain achieved the high gross domestic product rate. In next 40 years Britain
left behind another country. Britain over come also from 1000 another countries. It made its
condition in common market (Yee-Loong Chong, Ooi and Lin, 2014).
UK achieved the highest place in competitive market. UK is a great importer and
exporter at that time. All the country want to do business with UK. At that time it has a global
market. Many neighbour county try to attach its market with the UK. UK have the advance
technology and it have a great power to increase the efficiency of market. But if U.K left the
European group so somewhere it effect the country growth.
At present time European union have 23 members and UK is remove itself from the
European union (Jensen, M.D. and Snaith, H., 2016). UK achieved development also in science
technology. Many scientist and doctors achieved the country goal and mission. In 1979 Margaret
thatcher became the prime minister of UK and took many decisions related to market. He
favoured the free economy market and reduce the state involvement in economy. She called the
iron lady of UK. She was totally favour to kind of integration. She was responsible person of the
EU single market. She also gave a slogan that was 'I want my money back' in September 1979.
After that UK accomplish the high capacity growth. At present time UK have a big single market
opportunity. Every country want to do business with U.K. Many countries are there who work
with the each other (Yee-Loong Chong, Ooi and Lin, 2014). UK have the better transport facility
and better communication facility to manage the market very easily and provide the things and
goods as soon as possible. Country follow the other country rules and regulation. Because if any
company import something so they have to work according to that country rule.
UK is the best leading country in market according to ratio of 2013. Now Britain want to
left the European union because it have the big opportunity of market (Llewellyn, C. and Cram,
L., 2016). Country try to complete the high target in market. UK provide the raw material for
product manufacturing. UK encourage many country to do business with the Britain. Country

can earn more and more profit by this. UK is a best market to business and investment. UK
achieve the higher growth in market and other country want to do business with Britain.
2.2.Brexit
Brexit a format of British exit refers the decision of UK in June 2016. Britain want to
remove it self from the European union. The process of removing called the Brexit and try to do
business alone. It is a removable process from European group. The Britain process of leaving
started on 29 march 2017.
Origins and History of Brexit
After a long time the majority of Britain people voted to United kingdom to leave the the
EEC group. After the election of Brexit financial market and prime minister David Cameron who
started the champaign to stay with European union left the post of prime minister (Dale, S. and
Talbot, J., 2013). In 1957 France, West Germany, Belgium, Italy Luxembourg and Netherlands
signed on the Paris treaty, which started the European Economic Community. It called also EEC.
All people want to work with each other because people think that if they will work with each
other they will never fight. It slogan raised after the second world war. It necessary also to made
a group.
When the united kingdom want to apply the membership of EEC in 1963 the France
president did not want to replace the English with French. In 1975 the all country have a big
question in front of them, that was the united kingdom should stay in European market or
common market. The 67% people want that the UK should stay in European country. The history
of Brexit is very old (Wheeler, B. and Hunt, A., 2016). The leaving process is called the Brexit.
Many Britain people want to left the European group. If anyone want to left the group so it have
to follow a procedure to left the group. Before the leaving group country have to do many
meetings and ask about that to country people. Because the decision have impact the people's
life. Government can use the pole system and also provide the SMS to give the public review.
These way can be use to take the decision from public and take the decision (Yee-Loong Chong,
Ooi and Lin, 2014).
Debate about or around Brexit
UK was the member of Brexit and many country attached with the European Union. It
provide a big global market to do business (Boulanger, P. and Philippidis, G., 2015). Country
make European group to stop the war between two countries. After the second world war

countries are agree on to do business with each other and try to make a global market. Now UK
want to left the European group and left the common market of European union.
 As the promised of British people that U.K. Prime minister David Cameron open a deal
with the EU members. First they talk about the future plan of Britain. Main motive is that
U.K. Is not member of European country and doesn't use the Euro currency so it will not
work for Eurozone bailouts in future (Llewellyn, C. and Cram, L., 2016). U.K did not
want to use the European currency and European language on broad level so Britain
want to refuse the European union but after the facing some situation and condition
country connected itself with the European union. Government of Britain also ready to
use the benefits of European union. But after a long time country want to left the
European union so they ask about it to all the members of country. They give their views
to government. After the result government find that 65 people want stay with the
European group and 45% people want to left the European union (Wheeler, B. and Hunt,
A., 2016).
 Economic Impact on U.K.:- Campaigning started in the U.K. The supporter said that
U.K. Should leave the European union because U.K have better condition of market and
better economic position. So supporter said to left the European union. After the leave the
union British economy is going to downward and European country pressurise the Britain
have to again join the European union. If Britain leave the group of European union so
they have to face the problem in small business. Small business also require to European
union to sale its product in global market. All the small business start the business with
the other country. If Britain leave the European union so they are unable to purchase the
raw material and other required thing which is necessary in business. Britain is unable to
do business on broad level and unable to sale the good on broad level.
It direct effect the global market business(Llewellyn, C. and Cram, L., 2016). Union make many
rules to do business but if the country left the union so it have to face very big problem in future.
It direct effect the Economic condition of country. The European union raise the fund and help to
that country or people who have not enough money to do business or do anything. If Britain left
the union so many problem occur in future. Country unable to do business with another country.
If they try to do business so they have to follow the some rules and regulation to start business. It
also effect the country employment also. Because the country have not enough job for all the

people and union country does not help other country until another country dose not take the
membership of union. Britain can survive but Britain have to face many problem due to left the
union of European.
 British Public Opinion:- After the election in U.K poll found that 55% people want to
stay with the European union and 45% want to left the European union. Most of the
people favour in the European union because they feel that it is good for the country
growth and small businesses also(Jensen, M.D. and Snaith, H., 2016.E). People want to
live in European union country. After the terrorism attack in Paris people think that
terrorism activity take place due to the European country. So they want to save theme
selves from the next terrorism attack so they are against the European union. British
public want to stay with the European union. Because people always think about own
growth and their business growth. If the country left the group of European union so they
have to face many kind of problem(Shaxson, N., 2012). In 1963 Britain is the most
poorer country in the world. So Country prime minister take a decision related to
European union deal. But many people refuse to connect with the European union and
work alone but that time Britain refuse the people and connected with the European
group. It increase the country economic growth, country's import and export, country
wealth, help to improve market. Analysis of market on broad level (Yee-Loong Chong,
Ooi and Lin, 2014).
It is true that if Britain left the European group so it have to face many problem and also
faced about the new problem which occur an another country will not help to Britain. It is very
useful to do business on global market. Country have many option to use the relation of
European country. If the Britain left the European group so Britain may have to face also third
world war image. Country should live with the European union and follow all the rules and
regulation of country on global level (Ebell, M. and Warren, J., 2016). European country have
the very huge market in every sector. All are using the reference on global market. A country or
company can earn more and more profit after the start business with each other. Country want to
improve their business sector so they have to try with more efforts. A Company can import the
many types of goods. A medical company can survive in medical market if they are using global
market product. Global market product also cheap comparison of another product. Global market
provide the facility to all the country to improve the business with other country. At present time

all the country encourage the people to do business on broad level. Because it is helpful to
improve the economic growth of country. All company have power to import and export the
goods but they have to complete the terms and policies related to import and export. Company
have to pay some duties and taxes to import and export the goods(Shaxson, N., 2012).
Government provide many kind of transportation facility to customer to use on global market.
How can UK leave EU
In respect to make effective results and outcomes, there are various strikes are take place in
which Britain deals. Britain department has dealing with international trade. With the help o
dealing in international trade, UK can easily leave to the EU. It will assist to get effective results
and performances for ascertain results and performances (Yee-Loong Chong, Ooi and Lin,
2014). The government is also investing money to take place in EU. Political capital also
ascertain for develop effective results. There are 53 countries who trading ahead from the EU. In
this aspect Brexitees argued that unchained from the protectionist EU has develop effective
results. One of the firmest market advocates the free trade which Trump up in January 27th. There
are different countries that roll over for Britain. There are some countries which already
expressed which make proper interest in trade deals with Britain (McAdams, Neslund and
Neslund, 2015).
The point of making such concession which would be assists to gain foreign market. It is
also excels at selling, services and various banking element which need to be undertake for
export with trade economist. In 2015 Britain exports around £225bn worth of services. Britain is
might for developing services for ascertain effective results. Insurance is also taken effective results
to make strong country. It makes enormous potential growth of the nation for ascertain profitability.
As results, insurance premium growth is maintains effective results to ensure success. On February
20th David Cameron who is prime minister of Britain set their targets for implement it in June 23rd. In
this way, they are taking membership of the European Union which is announced through protracted
renegotiation of the current condition to make effective results (Yee-Loong Chong, Ooi and Lin,
2014).
Further, for decades the UK has ambivalent and sometimes contentious relationship with EU
ascertain development of the nation. London is keeping effective distance from the Brussels
authorities with negotiating opt outs from some central policies of EU. It is also includes EU
Faltering response to recent crises which renewed euro scepticism. Advocates for a British exit from

the Union argued that reclaiming is the sovereignty in which UK can perform their functions and
operations in better way (McAdams, Neslund and Neslund, 2015). It is also making dynamic
growth of the nation which determines through developing performances and results in systematic
way. With ascertain profitability, Brexit could also accelerate nationality movements across the
continent. UK has unprecedented situation to take part as a full member. It is comprises with
developing the performances which would be better to demonstrate different element easily.
Under the term of article 50 of the 2009 Lisbon Treaty beginning the process to leave EU (Yee-
Loong Chong, Ooi and Lin, 2014).
In this aspect UK require official information which assists to develop led to debate in the
article. It include invoked of the EU system which need to be grow in systematic way. Moreover,
in the parliament article to leave UK is not requires for Prime minister. With one conservative
party, in March 29th, 2017 it is demonstrating to ascertain the effective results and performances.
The treaty give 2 years window to negotiate the term to with drawl. Negotiation is very complex
in which UK need to perform their functions and operations with citizen residing in the EU. Non
UK citizen in the market must be approved by the supermajority of EU nation. In addition to
this, country is also majoring their performances with ascertain the European parliament
(Boshyk, 2016).
Separately and simultaneously, UK need to take negotiation in the term of future
association. In this aspect, it is unclear that what types of relationship would be like to ascertain
at workplace for demonstrate outcomes and results (Noorman and Uiterkamp, 2014). Non EU
countries offer potential model which assist to get proper functioning within the market.
European economic areas are also giving proper and effective results for partial access within the
single market. It assist to grow operations and functions of goods and services in single market
so that competitive advantages can be undertake within the place (Yunus, Bustaman and Rashdi,
2014). EU law is also contributes budget and abide with different regulations which ascertain to
develops results and performances in systematic way. With ascertain the targets and goals, 80%
of the UK economy has develops their operations in new places. Turkey is the only custom union
which would be beneficial make products and services in free market (O'Boyle, 2014).
However, both Norway and Switzerland also accept the free movement of people in
different areas. With the help of primary complaints, EU can leave for assess the performances
and results (Popescu, 2013). In January 2017, UK is not remain same elements and customs to

dealing with different aspects. Decisions are also combines with France assurance which would
be pay by Price for leaving it carefully. It is also raise hard Brexit in which negotiation can be
fail to create results and performances as per the company requirement. However, it would be
beneficial to sort special arguments within the two years window programs (Yee-Loong Chong,
Ooi and Lin, 2014).
In addition to this, reclaiming sovereignty at the forefront which assist to leave campaign.
For leaving the supporter, it is require to make effective results and outcomes to leave EU. Since
1973, EU is becoming suffocating bureaucracy with ever expanding the regulations which made
for assess the business requirement (Morschett, Schramm-Klein and Zentes, 2015). Laws that are
governs in citizens, are also decided by politicians from the other nation which would be ensure
that overall productivity has been enhance.
The immigration issue are powerfully ascertaining the effective results and performances
which would be determines through combining the economic security. An expert UK politics at
the university of Kent is taking caring for assess the results and performances in systematic
aspect (McAdams, Neslund and Neslund, 2015). Thus, it would be beneficial to attain positive
results and performances. For various analysis, European union is demonstrating the reduction of
regulations which assist to create support with believe at workplace. In order to improve
competitiveness, UK also wants to leave EU which would be beneficial to attain advantages.
Forge trade bills also fast growing the effective results that need to perform emerging economies.
Beside this, there are certain risks to UK market to leave EU (Chang, 2016). They are as follows,
UK is highly traded with economic terms of the market. Thus, it is essential to
demonstrate effective results and outcomes for taking part in EU. British is also pounded that
shapely and reaching towards the UK market is consist various negative aspect in the business.
Long term output has also reducing which need to be undertaking to assess the business results
and performances (Reveiu and Dârdala, 2015).
CONCLUSION
From the above report, it has been concluded that Brexit is create highly impact on the
business performances. In this aspect, there are various elements take place which create
problems to make effective results. In this aspect, report summarize European union of the
market in which several companies take place to ensure their participation within the business
environment. Furthermore, report is also concluded about history of EU which make effective

results and performances to deal with different elements within the market to ensure effective
outcome and performances. With the help of entering in new area, country can develops their
performances through demonstrate functions with various countries. Although, UK has
advantages and disadvantages to leave EU. This is because, through leaving they cannot easily
take part to make sure that objectives and goals can be achieve in simple way. Furthermore, it
create advantages to make policies and rules per the own convenience within the market. In this
aspect, country need to make focus on every element which ensure targets and performances in
positive aspect.

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