Impact of Brexit on UK Businesses - Report

Added on - 22 Jul 2020

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UNDERSTANDINGBUSINESS
Table of ContentsINTRODUCTION..........................................................................................................................1TASK...............................................................................................................................................1Impact of Brexit on UK Businesses............................................................................................1Recent Workplace Equality Issues in 2017.................................................................................2Use of Drones to deliver commercial parcels.............................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONTo run a business require lot of knowledge and skills so that it can be successful inmarket. There are various essential factors involve in this regard. This is important for thebusiness to produce value to its stakeholder by its ongoing activities and business operation. Theoutcome of such operation is to harvest the value from the assets. This is required for successfulentrepreneur to consider essential elements effectively so that its business can't be affected innegative manner. When business owner learns how to effectively use the aspects of business,their organisation will continue to enhance their operation and attain success. Tesco PLC is theUK based retail grocery company that offering their services to large number of customers. Thisorganisation has focus on efficient use of quality measures so that they can attain maximumsatisfaction of their customers(Stanwick and Stanwick, 2013).TASKImpact of Brexit on UK BusinessLarge chain of businesses are operated effectively in UK market. This is important taskof the organisations to run smoothly so that they can attain success and can be able to providemore satisfaction to its users.Brexit is term used for exit of Britain from European Union. In a UK referendum on 23June 2016, 52% people voted to leave EU which they were the part from 1973. There was lot ofdiscussion over effect of Brexit on European market as well as on UK. Business of UK dependson how it negotiates with EU in terms of trading and economic policies. There are campaignerswho are in favour of Brexit and they stated that it has good effect on UK market as it will helpUK to become one ofthebest market for start up business.Due to this, the value of pound fallsto its lowest level.Brexit supporters said that after Brexit UK does not need to pay 9 billionpounds to European union budget(Lohrmann and Reichert, 2013). Scotland voted for not gettingout of European union and said, it will have referendum on independence from UK, this broughtvery negative impact on investment of Scotland ultimately on UK business.According to stats in 2015, UK exported 133billion pound worth of goods to rest part of EU,which is almost equal to half of global goods export. It is expected that there will be loss ofaround 4.5 billion pounds a yearif negotiation with EU fails(Foina and et. al., 2015). UK mayloose its access to single market. Most adverse effect that is thought will be on imports of raw1
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