BREXIT Analysis: Impact on UK's Economy, Trade, and Business

This report delves into the economic consequences of the United Kingdom's decision to leave the European Union (BREXIT), examining its impact on the UK's economic environment, trade policies, and business operations. It highlights the initial recession faced by the UK, the changes in monetary policy, and the challenges encountered by international businesses operating within the UK. The analysis further discusses the implications for European Union-based companies, including trade barriers and raw material shortages, while emphasizing the need for strategic planning and adaptation by both businesses and the UK government to navigate the post-BREXIT landscape and foster economic revival. The report concludes by stressing the importance of addressing political issues effectively and developing precise strategies for businesses to thrive in the altered economic climate.

United Kingdom's step
of BREXIT

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................4
The United Kingdom (UK) has left the European Union (EU) and will once again be free to
make its own laws, post the Brexit Transition period. Some argue that the UK’s parliamentary
sovereignty was indeed undermined by the EU and that the UK has finally got back its
independence...............................................................................................................................4
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Political issues arise on frequent basis in all major countries of the world. It is the ethical
role of a country to deal with major political issues on a frequent basis (Baldini, and Chelotti,
2021). The United Kingdom also faces so many political issues throughout the year in a major
sense which impact on functioning of whole country. It is also one of the major roles of
government itself to deal with these issues in order to lead other countries. In this project there is
a brief discussion mentioned on UK's decision to exit European Union and its consequences. The
discussion also includes description of economic environment in which business organisations
operate. This project also includes analysis of global business contemporary environment and
impact caused by BREXIT.

TASK
The United Kingdom (UK) has left the European Union (EU) and will once again be free to
make its own laws, post the Brexit Transition period. Some argue that the UK’s
parliamentary sovereignty was indeed undermined by the EU and that the UK has finally
got back its independence.
The European Union is considered as one of the major associations of different European
countries. All countries which are member of European Union are interdependent on each other
in various terms. The European Union is also considered as one of the major associations of
whole world, which is majorly responsible for trading across borders. The policies and
regulations of European Unions are also effective in making it easier for the companies to
perform business all across different countries. United Kingdom was also one of the healthy
partners of European Union and once it was following all the rules and regulations. On June 23
2016, United Kingdom decided to leave the European Union which was one of the most crucial
decisions in the political history (Corbett, and Gordon, 2018). This made United Kingdom an
independent country which played a key role in increasing the chances of individual growth and
development. This decision was known as BREXIT and it impacted largely on whole economy
of United Kingdom. The decision of BREXIT has made a serious impact on the country's
functioning. It is essential role of the business organisations which are there in the UK economy
to develop new strategies in order to survive at the marketplace. The United Kingdom has
become more independent and advanced after it took the final step of leaving the European
Union. Many countries also suggested UK to take the decision back but the government stick to
its decision. This is one of the major decision which is taken by government in order to lead the
marketplace.
The economic environment of United Kingdom has also changed due to BREXIT
decision. It is major role of economy to focus on developing a crucial approach which is helpful
in increasing the overall value (Freedman, 2020). The major decision of UK to leave European
Union directly impacted on gross domestic product and its national income. The United
Kingdom also faced recession after the BREXIT decision as the whole economy suffered from
an economic loss. Economic environment since 2016 got disturbed due to BREXIT in order to
lead the competition. The country also faced a major change in its rules and regulations which

affected the whole economic situation in country. BREXIT decision also gave a hard setback to
the economy which demanded for professional and expert solutions. It is one of the major roles
of economy to also develop key planning and strategic frameworks which are important for
overall development. The BREXIT decision also impacted on cash flow and money supply in the
economy of United Kingdom. Monetary policy formulated by United Kingdom's government
also changed due to BREXIT (Jawad, Maroof, and Naz, 2019Matthijs, 2017). There was a strong
need of developing a precise and strategic approach which is essential for revival of whole
economy. The whole economy and its environment was impacted with the decision and also it is
major role of economic ministry of United Kingdom to take precise and relevant decision to
revive the economy.
The international business environment was also majorly affected by the BREXIT step
taken by government of United Kingdom. It is also one of the major roles and responsibilities of
UK based international companies to develop rules according to BREXIT situation. The global
business environment also faced a major challenge due to BREXIT which directly impacted on
their survival. In the recent times, it is major role of global companies which are part of UK to
change their trade policy. Earlier the trade between different countries was affected by BREXIT
in a well defined and advanced manner (Moric Vilela Mariano, 2018). United Kingdom earlier
used to perform free trade practices with different countries of European Union. Now, there are
stiff rules and regulations which are developed by different countries. It is one of the key role of
UK government to develop new trading policies and analyse the key role of trade between cross
borders. In order to perform trading with European Countries, there is now presence of strict
trading policies. This has impacted negatively on trade and put in various trade barriers which
are impacting on functioning of trade and development policies. United Kingdom is also fighting
for its development by making business organisations more competent. The companies should
also develop a major and precise approach in order to come back in the marketplace with
increased profitability.
The BREXIT decision also mainly impacted on the European Union business operating
in EU environment. It is now the major role of government of United Kingdom to develop
focused rules and regulations which are important for performing trade with EU countries
(Saleem, 2019). Also in recent times, BREXIT has made it hard for the UK companies to
purchase raw materials. The European Union based countries are also making it compulsory for

the UK companies to pay a minimum trade duty to EU countries. The shortage of raw materials
for the UK based companies is considered as key approach which is setting limitations for the
businesses. Many of the EU based companies are also dependent for establishing trade with UK
based companies. These EU companies are now facing a huge loss due to BREXIT. Also there
are many international companies which are operating in the global marketplace are finding out
new ways to establish trade with UK based companies (Schatz, V 2019). After the BREXT
decision was made, many European Union based companies and UK based companies protested
as it was a major change. Now the situation is calm and relax but still causing impact on whole
economy. The European Union countries are also developing a key approach at the marketplace
and demanding to the government to develop relaxed rules and regulations. It is major roles of
government of United Kingdom to focus on analysing and developing competitive strategy
which is helpful in delivering value development and goals. The main role of a business is to
focus on key ways of doing trade with more responsibility and different methods. It is one of the
major roles of companies to focus on regulations of EU and UK to perform trade in a well
defined manner (Wilson, 2017). The whole analysis of UK economy is essential for development
of the business and it is necessary to lead the competition. Key task of the government of UK is
to develop a major plan which helps the whole economy to bounce back after the situation.

CONCLUSION
From the above stated report it can be concluded that in the recent times it is essential for
a country to deal with political issues in a precise manner to achieve desired results. This project
concludes importance of economic business environment of the country in order to increase the
gross domestic product and national income. The project concludes key role played by strategic
and planning framework in order to increase the chances of future planning. This project
concludes the main role of ministries of government to handle key consequences of economic
situation that is prevailing in the country. The analysis also concludes that it is main role of a
business to develop precise strategy in order to facilitate its revival.

REFERENCES
Books and Journals
Baldini, G. and Chelotti, N., 2021. The Brexit effect: Political implications of the exit of the
United Kingdom from the European Union. International Political Science Review,
p.01925121211026522.
Corbett, A. and Gordon, C., 2018. Brexit and higher education and research. In The Routledge
Handbook of the Politics of Brexit (pp. 103-117). Routledge.
Freedman, L.D., 2020. Britain Adrift: The United Kingdom's Search for a Post-Brexit
Role. Foreign Aff., 99, p.118.
Jawad, M., Maroof, Z. and Naz, M., 2019. Development dynamics: pre and Post Brexit analysis
of United Kingdom. Quality & Quantity, 53(2), pp.791-811.
Matthijs, M., 2017. Europe after Brexit: A less perfect union. Foreign Aff., 96, p.85.
McCann, G. and Hainsworth, P., 2017. Brexit and Northern Ireland: The 2016 referendum on the
United Kingdom’s membership of the European Union. Irish Political Studies, 32(2), pp.327-
342.
Moric Vilela Mariano, H., 2018. Comparison of different regimes of future legal relations
between the United Kingdom and the European Union after Brexit. Journal of Public
Affairs, 18(4), p.e1845.
Saleem, M., 2019, June. Brexit impact on cyber security of United Kingdom. In 2019
International Conference on Cyber Security and Protection of Digital Services (Cyber
Security) (pp. 1-6). IEEE.
Schatz, V.J., 2019. The international legal framework for post-Brexit EEZ fisheries access
between the United Kingdom and the European Union. The International Journal of Marine and
Coastal Law, 35(1), pp.133-162.
Wilson, G.K., 2017. Brexit, Trump and the special relationship. The British Journal of Politics
and International Relations, 19(3), pp.543-557.