The Brexit Referendum and West London Entrepreneurial Growth

This report delves into the impact of the Brexit referendum on the growth rate of start-ups and entrepreneurs in West London. It begins with an overview of the research, background on Brexit, and the significance of the study, outlining aims, objectives, and research questions. The literature review examines statistical data on West London start-ups from June 2013 to the present and analyzes the effects of Brexit on businesses. The research methodology section details the research philosophy, strategy, design, ethical considerations, and research methods employed. The report explores the economic alterations, currency fluctuations, and policy changes affecting small and medium-sized enterprises, which are vital to the UK economy. It also discusses the negative impacts on innovative and export-oriented companies and the challenges faced by West London's economy, including issues related to funding, stability, and multinational trading. The report concludes with recommendations and references, providing a comprehensive analysis of Brexit's effect on the entrepreneurial landscape of West London.

Impact of the Brexit
Referendum on the growth rate
of start-ups/Entrepreneurs in
West London

Contents
TITLE:.............................................................................................................................................1
CHAPTER 1: INTRODUCTION....................................................................................................1
1.1 Overview................................................................................................................................1
1.2 Background............................................................................................................................3
1.3 Significance of research.........................................................................................................4
1.4 Aims and objectives...............................................................................................................5
1.5 Research questions.................................................................................................................5
1.6 Gantt chart..............................................................................................................................6
CHAPTER 2: LITERATURE REVIEW.........................................................................................7
2.1 The statistical data of start-ups in West London from June 2013 until now.........................7
2.2 How has business been impacted from the Brexit referendum............................................13
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................15
3.1 Research Philosophy ...........................................................................................................16
3.2 Research strategy.................................................................................................................16
3.3 Research design ..................................................................................................................17
3.4 Significance of research ......................................................................................................17
3.5 Ethical issues .......................................................................................................................17
3.6 Research Method ................................................................................................................18
RECOMMENDATION.................................................................................................................25
CONCLUSION..............................................................................................................................27
REFERENCE.................................................................................................................................29

TITLE:
“Impact of the Brexit referendum on the growth rate of start-ups/Entrepreneurs within
West London”.
CHAPTER 1: INTRODUCTION
1.1 Overview
Research is known as a detailed analysis of a specific concern through application of
scientific and statistical method. This will help in collection of important and reliable
information which contributes in enhancing decision making for attaining desired results. This
research is based on the impact of Brexit on European union as well as on the growth of start-ups
in West London (Goodwin and Heath, 2016). UK affected directly by Brexit regarding
expanding business structure as well as acquaint new ventures. Major impact of Brexit on EU is
results to be economic alteration as well as pound fell its values and struggled to recover their
position in a economy over the years. These procedures has direct impacts start-ups as well as
small enterprises. In June 23, 2016 British leaves European union which is termed as Brexit. In
this process, Referendum takes a part that determine voting procedure on the basis of individual's
opinion in the respect of UK to should remain or leave European union. The ratio of this
referendum is deliberate as 51.9% to 48.1% in which maximum individuals are in the favour of
EU leave.
In the year of 2016, Britain voted to leave the European Union and the UK established
itself as one of the best countries for entrepreneurship but it also made some unknown factors
impacted on the country. The business get affected by the Brexit in terms of import and export
like there is a small business in the European Country that imports the raw material from the
United Kingdom but the increased cost of suppliers made a major impact on the business
because the British pond fallen down from the past 31 years. In the UK the inflation rate risen up
by 2% (Green and et. al., 2016).The entire scenario has changed after regulating the Brexit the
inflation rates increased that's why there was a increased change in every product and services
has 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 evoked
the negative effect on the UK economy. The small and medium size firms are likely to be
stricken by the Brexit as they are considered as backbone of the economy. In the UK there are
1

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 was
the expected to give high growth to the country. There is a disruption among positive and
negative impacts upon the UK and EU because business is facing troubles and UK is going to
rise in some areas. For a start up and a business enterprise, it is required to build analyse
economy stability in order to getting enduring benefits. In west London, economy faces various
crises after the Brexit referendum. In this duration, small and large both firm faced tough
situation in terms of funds, stability as well as multinational trading approaches. Major issue that
affect economy condition is about diminishing the value of currency that affect growth as well as
inflation rate. The economy of UK is known as one of the best platform to start their business
venture at astronomic as well as midget level but this were become challenging due to unknown
effects 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 as
well 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 direct
effect on growth of enterprises. In the study of economy development process, it determined that
business conditions would be drop over the coming year if small business are not getting proper
growth. Capital economies are found are that government of UK needs to implement negotiating
process with other economy as with EU too because this is the only economy that render
maximum revenues from past years. Major results that UK and entrepreneurs face after
referendum 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 small
business firms and ventures were directly got affected. As its impacts, economy of UK faces
numerous issues and problems to get proper growth again. This process will take a long term of
period 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 business
enterprises.
2

1.2 Background
The research topic is based on Impact of the Brexit referendum on the growth of
Entrepreneurs. For a business organisation, it is required to analyse economy condition and its
effects on their procedures. In UK, small and large scale enterprises face various issues in order
to build their own image after Brexit and its impacts. These in activities create crises in economy
in terms of future growth. Referendum in Brexit is affect several activities as raising inflation
and exploit political uncertainty that has direct effect on maturation of enterprises. UK was the
most growing economy that is very liable for new business organisation in terms of development
as well as growth. But after Brexit, this economy got affected in the term of financial as well as
domestic issues. Small and medium size enterprises are the backbone of UK economy that are
affected by such terms (Portes and Forte, 2017). With such industry, expansion and size, United
Kingdom can start-up will directly impact on Brexit. The volatility of currency is effect customer
spending and purchasing power. Brexit has potential fundamental rewrite the rules and
regulations where firm will perform business within UK nation. It can be analysed that Brexit
define future large scale foreign owned production plan. The Brexit is largest factor which
directly effect on UK start-up and there are various economic events which continuously impact
on all businesses. The full effect of Brexit is clear, simple and effective but UK entrepreneur has
made appropriate operations under uncertainties in effectively. For this, government of UK needs
to take initiative about manage funds to provide financial stability to such start-ups. In this
procedure negotiation procedure of higher authorities takes a place in order to build stable
relations with economies to getting several as well as long term benefits. In UK history, Brexit
was determine as a most critical situation that affect its growth as some personal drives. This
procedure takes place on the basis of referendum on the specific ratings. It is also identify as a
major factor that determine positive as well as negative impact for a proper recommendation to
work differently or in a optimistic way with a hope to get desirable outcomes easily (Hürlimann
and et. al., 2016). In current time period, startup business are mainly worried about UK future
economy so they are vote last year of Brexit where new examination has been found. Brexit refer
a term that increase rate of inflation and enhancing persuasion ambivalent situation related to last
12 months. This stands businesses which continue to abide by same EU rules and regulations so
they need to wait in future coming years and months. Such type of uncertainty is fixed by
3

entrepreneur and business by taken all necessary actions and step regarding Brexit. This will also
make an opportunity for the country in proper manner.
The impact of Brexit on economy of government which has been analyzed major
authorities 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 is
mainly effects on their future company strategy associated intentions. In this, the debate was
going through such things where businesses has been divided during referendum but most of the
contend will evaluating results or outcomes effectively. Small business owners mainly voted for
EU leave and at current time period they are discussing about future. This has been represents
that self employed analyzed so it is effective or good on given time period.
1.3 Significance of research
The main focus under the research activity is about gathering of information about
different aspects which helps in improvement of knowledge and contributes in attaining better
results. There are many sources from where data is generated by researcher which are known as
primary and secondary. In primary research actual views of respondents are ascertained. This
information is most reliable and authentic simultaneously unbiased in nature through which
better results are interpreted through with drive success in future period of time. The tools which
are mainly used under this method includes questionnaire, interview, online poll etc. Another
type of source which is used for the purpose of conducting research is secondary. This type of
method 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 type
of information is not much relevant to research topic because they are published in nature and
requited to identify the information as it is relevant to their research topic or not. Both these
methods have their own advantages and disadvantages which helps the researcher to apply all
these information in process of effective accomplishment of their desired objectives. Here, in this
report research is conducted through upon the topic about the “Impact of Brexit referendum on
the growth rate of start-up's and entrepreneurs within West London”. Brexit is the situation
which arises due to exit of UK from European Union. Referendum is refers as the concept
related 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 the
4

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 changes
in their previous policies and formulate such legislations which provides support to the
individuals of society that they disburse their efforts in development of economy of nation as a
whole. The importance of this concept is understood from this fact that government of UK take
many new initiatives regarding promotion of small entrepreneurs and start-up businesses. In this
regard, they start providing subsidies to the new entrepreneurs who start their own business
through application of new ideas. Also, they bring changes in taxation policies for small
entrepreneurs. Such changes are made on the basis of turnover of organisation and provide
concession to them on their earnings. This step of UK government has huge importance on the
development of society and economy (Oehler, Horn and Wendt, 2017). There are large number
of employment opportunities are created which helps in reduction of unemployment rate and
improvement of their living standard. Simultaneously, this was contributing their effort in the
development of economy through bring high flow of cash from through various investors present
within and outside the nation. This was provides the opportunity to the individuals of society is
earn large number of profits and income and become self-dependent. In future this will have
huge positive impact upon the development of society and economy and become strong and
developed nation.
1.4 Aims and objectives
Research Aim:
“Impact of the Brexit referendum on the growth rate of start-ups/Entrepreneurs within
West London”
Research Objective:
 To gain and produce results to determine the growth rate of start-ups within West London
 To investigate the impact of the Brexit referendum on start-ups within West London and
to provide a hypothesis in relation to the findings.
1.5 Research questions
 What 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 chart
This is a most effective method of research that assist to manage activities in specific
manner. Gantt chart is a graphical representation that used to frame task in accurate manner. It is
a necessary procedure that manage working approaches on the basis of beginning to the finish
period. In this, manager of firm plays a most important role in order to analyse employee’s skills
and effectiveness in order to distribute work in different department for getting desirable
outcomes. Through this, work of project can run smoothly to completing activities properly. In
this reporting methods, details are usually managed by excel or graphical format to getting
authenticate information of full procedure (Matti and Zhou, 2017). All these in activities made a
project authentic and specific in order to getting proper information’s. To manager a task or
report, it is required to build a proper team work in which each employees assist to manage
activities to accomplish them at decorous time period. The coordination between employees
assist to do task in authenticate manner to analyse proper information by specific resources. A
project also required a measurable, understandable as well as quality information that concluded
with certified sources. In this, a team always contribute an effective service to gather proper
information, manage activities and getting proper conclusion. In this procedures, some other
elements play a most important role as -
Time management – Gantt chart always used to manage task and activities at a proper
time period. For this, employees of a task management activities are schedule project in specific
manner from beginning to ending date. In this project, employees are requiring to get data to
analyse Impact of the Brexit referendum on the growth of start-ups from different sources that
provide authentic interpretation to others. These activities take maximum time to manage
information in proper manner. Gantt chart takes a proper place to manage duration of collecting
data and implement them in project. Time play important role in everything and it is important
for every organisation to complete their project on time within specifies time period.
Communication – Gantt chart is a graphical representation in which employees are
works together to accomplish a task properly. For this, it is required that they communicate
properly 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 management
plan. This is a most specific element of firm that assist in managing data and authentic
information of data analysis method. It will be helping to motivate employees to manage
6

approaches and activities in different time period by communicating with others. Through this,
they can manage information and sources in effective way. There should be two-way
communication so that information and data transfer and provided to each and every employees.
thus they can perform their activity in better manner.
Understanding - In a project management activity, it is required that employees provide
their contribution to collect a proper information in the perspective of task. Gantt chart manage
activities in proper manner to to provide understandable and authentic information to learners.
These are the effective and appropriate approaches.
CHAPTER 2: LITERATURE REVIEW
In this section of research, literature review is discussed brief information in specific
subject on the basis of published documentation. This study is represent befitting content on
Brexit that has major impact on the growth of New start-ups as well as small enterprises in UK.
In the process of leaving EU, referendum support with maximum majority of population that
tallied higher of overall figure (Curtice, 2016). As its result, UK were got withdrawal from EU
on June 23rd, 2016. It had major impacts on new start-ups or small business enterprises as well as
Brexit referendum itself damaged economy values of west London in the consequent years.
2.1 The statistical data of start-ups in West London from June 2013 until now
As per the views of George kaye (2015) West London is the hub of start-ups as well as
micro enterprises in order to maximise growth of economy. After Brexit referendum, economy
of UK faces various crises in the terms of Funds, investment as well as growth (Whitman,
2016). The maximum enterprises in West London are of media, Product manufacturing, media as
well as in technology sector which are known as fast growth firm that assist to provide
effectiveness in economy development approaches. There are the representation of start-ups in
west London in the year of 2014-2015 that consider all small as well as micro business firms.
Borough
No. of new
start-ups
(2014)
No. of new
start-ups
per sq km
(2014)
Survival
rate %
(2009-2014)
No. of
micro
businesses
(2015)
Micro
business %
No. of small
businesses
(2015)
Barking &
Dagenham 1310 36 33.3 4785 91.8 355
7

Barnet 3985 45 37.6 19445 93.2 1205
Bexley 1455 24 43.8 6930 91.3 545
Brent 2585 59 37.4 12035 91.5 925
Bromley 2190 14 41.7 12360 91.9 885
Camden 4375 200 38.6 22340 87.2 2520
City of
London 2610 898 36 13370 80.6 2380
Croydon 2390 27 39.3 11850 92 830
Ealing 3110 55 40.2 14560 91.9 1060
Enfield 2305 28 37.4 10530 92 765
Greenwich 1690 35 40.8 7475 92.7 500
Hackney 3245 170 43 13295 90.3 1205
Hammersmit
h & Fulham 2380 145 36.5 10770 89.3 1000
Haringey 2190 73 39.6 9910 93.1 650
Harrow 2390 47 41.9 11530 93.1 715
Havering 1485 13 38.7 7765 91.1 615
Hillingdon 2075 17 39.8 10195 89.5 860
Hounslow 2320 41 39.7 10815 91.2 785
Islington 3715 250 40.5 14645 87.9 1630
Kensington
& Chelsea 2165 178 40.3 11020 88.8 1150
Kingston 1270 34 42 7060 91.3 540
Lambeth 5570 207 38.8 16505 93.8 905
Lewisham 1870 53 38.3 8070 94 445
Merton 1995 53 37.3 9415 92.1 670
Newham 2365 65 35 7915 92.7 525
Redbridge 2580 45 36.4 10825 93.5 655
Richmond 1985 34 44.6 11510 92.5 765
Southwark 2930 101 38.2 12295 86.7 1490
Sutton 1185 27 44.1 6810 91.8 500
8

Tower
Hamlets 3460 174 36.2 12985 89.9 1145
Waltham
Forest 2100 54 37.9 8285 93 530
Wandsworth 3055 89 40.8 14755 93.2 895
Westminster 8245 383 34.8 38650 83.9 5860
Economy of UK, getting higher growth due to the development of start-ups in west
London. Number of start-ups in the year of 2014 in Westminster are 8245 at 383 per sq km with
the survival rate of 34.8% (2009-2014). Further in Lambeth 5570 start-ups at 207 per sq km with
the survival rate of 38.8% (2009-2014), in Camden are 4375 at 200 per sq km having survival
rate 38.6% (2009-2014), in Tower Hamlets 3460 at 174 per sq km supported with survival rate
36.2% (2009-2014) and lastly in Hackney 3245 at 170 per sq km along with surviving rate 43%
(2009-2014). As per the above graphical representation, it has been identify that in 2015
maximum establishment of micro business in Westminster as 38650, Camden with 22340
venture and Barnet in which 19445 micro enterprises are implanted (Hepburn and Teytelboym,
2017).
On 23rd June, 2016 British parting from European union after Brexit referendum. It has
numerous impact on UK that are identify in negative as well as positive manner. Immigration
create a ground that motive several Britons who voted to leave that EU. As a result, this action
9
Barking & Dagenham
Brent
City of London
Enfield
Hammersmith & Fulham
Havering
Islington
Lambeth
Newham
Southwark
Waltham Forest
0
5000
10000
15000
20000
25000
30000
35000
40000
No. of new start-ups (2014)
No. of new start-ups per sq km
(2014)
Survival rate % (2009-2014)
No. of micro businesses (2015)
Micro business %
No. of small businesses (2015)

had several negative impact on industry groups such as; construction, engineering and healthcare
because Britain has less resources for its establishment. Therefore, to easily recover from this
situation and enhance economy growth, UK paid proper attention towards business development
approaches in order to reached on higher records through such strategies. To conduct such
activity that assist to achieving targets, UK started investment process for new business
formations. As its result in 2016, more than 650,000 small and large scale organisation have been
started in UK which takes a small growth from previous records.
In between appropriate growth of start-ups, number of ventures are also dropped due to
inappropriate investments, funds and government clampdown. Just over 30% of start-ups west
London showed impressive growth with maximum number of micro as well as large scale of
enterprises development. These start-ups are identified as in year 2013 - 526,227, 2014 –
581,173, in 2015 are 608,110 (Cumming and Zahra, 2016). These information are determine
condition of Britain before Brexit while as after Referendum start-ups are getting growth as
650,000 or in 2017 these new ventures are calculated as approx. 702,200. These start-ups provide
impressive visual image in the terms of economy development and growth. On the basis of some
research, it has been analysed that UK is still the most vibrant country for the establishment of
mew venture. In west London, numbers of start-ups are getting rapid growth that helps in
economy development as well as maximise employment opportunities for individuals. For this
ongoing process, government of UK initiate several scheme with flexible labour market,
favourable tax scheme to support strategy of start-ups. By getting these advantages government
of west London taking initiative for business activities in some specific sector as; Healthcare,
engineering, hospitality, travel and tourism as well as micro businesses. After a annual analysis
10
1 2 3 4 5
0
100000
200000
300000
400000
500000
600000
700000
800000
Column B
Column C

of entrepreneurial approaches in over approx. 100 countries, it has been identified that UK's
start-ups boom at global level.
From the above graphical representation it has been determined that, After analysing
industries growth, it also identified that manufacturing sector of UK is getting least growth due
to the major issues in investment process. Bank of England expect a desired investment for
manufacturing industry so that they can enhance import services to create multinational relations.
On the basis of strong comparison with EU, Least investor are likely to invest their funds in
Britain for production services. European commission survey also identify similar situation that
British factories are replacing their machinery due to weak preceding investment (Burns, 2017).
These situation are majorly identify after the Brexit referendum in which investors are least
likely to put their funds in UK manufacturing industry. The production sector of UK are also not
likely to enhance their productivity by EU investment, but more interested to replace their assets
due to lack of investment criteria. All these business approaches has direct impact on new start-
ups as well as micro businesses who are require proper funding to maximise their structure.
11
Illustration 1: Brexit vote impact felt throughout UK economy
Sources: Brexit vote impact felt throughout UK economy 2018

According to above graphical representation it has been identified that after the Brexit
Referendum, Economy of UK pay their maximum attention toward start ups. In 2017, private
sector start-ups are are announced as 197,000 more than last year determination. These new
ventures are classify on three different sectors as small, medium and large. Main focus of these
industries is to provide maximum opportunities in employment services that assist to better
growth option for individuals (Gasparski, 2017). The exact situation in 2016 of these businesses
in West London are, in small organisations, less than 10 employees are working that sort as 48%
of employment and 37% of turnover. These small firms has maximum business in West London
and UK that are established in several sectors. Micro business have 0-9 employees are working
as accounting 96% of all type of businesses. In large firms, more than 250 employees are
working who are reported as 40% of employment and 49% of turnover. Large firms has
minimum contribution in maximum business growth.
Rapid changes in UK economy
After Brexit referendum, UK were majorly looking toward new and micro start-ups that
assist to provide maximum growth in economy. The strategy of maximise proximity in the terms
of business areas has get rapid growth. As the higher development of new enterprises, UK is
known as largest employment sector in the terms of financial as well as business services.
Mature employment rate is growing 2.6% each year as per the comparison of past 10 years data
which is taped on 1.6% (Theodore, Theodore and Syrrakos, 2017). As per some economy
12

research, it has been identified that expected employment growth in coming years will be 40% or
around 900,000 in new start-ups as well as in micro businesses in next few decades.
Impact of new start-ups on economy of UK
UK always provide opportunities to start-ups, business enterprises and number of
ventures which are establishes in each year. Government of UK always provide maximum
opportunities to new entrepreneurs in order to maximise growth of business in each sector. In
2015, EU grab several options for the development of their economy, as its results they provide
appropriate funds for new start-ups to enhance trading as well as import services to maximise
foreign investment in their country but after Brexit referendum in 23rd June 2016, UK faced
various issues in the terms of investment and allocation of resources (Hodson, 2016). As its
results, Government pay their maximum attention toward establishment of new venture that aid
to maximise possibility for individual as well as economy development. Major area of focus for
authorised body of UK are small business firms that can create their business framework in less
investment resources. After create these strategies, government of UK establish their positive
relation with international customers who can invest their maximum funds for new business
establishment (Khayrattee, 2018). All these strategies has direct impact on economy
development process by maximising opportunities for those entrepreneur who wants to
implement their creative ideas in new industry development.
2.2 How has business been impacted from the Brexit referendum
As per the views of Shafi Musaddique, (2017), Brexit is UK's decisions taken through
referendum to leave European Union. The vote's result resist expectations and destroyed global
markets. Due to the result of Brexit, British pound reached to lowest level against the dollar. The
total number of votes which are received in favour of exit of Britain is around 17.4 million i.e.
51.9% of total vote (Lammers, 2017). There is huge positive and negative impact is ascertained
upon business and economy of UK because of Brexit. Overall it is not possible to determine that
it is beneficial for UK or not. To start their own business, UK is considered as best country but
there many unknown effects are brought up by Brexit. For ex., If some company is doing
business in West London and their raw material comes from Germany which effects negatively
because after Brexit free trade between UK and EU is no longer in existence which results in
increase of their cost of supplies. This will lowers down their revenue in near future.
13

There are many organisations who had export business operations in West London.
Another aspect which faced major negative impact is Export activities. After exit of UK from
EU, many restrictions are imposed by authorities which results in higher amount of cost and
tariff on export activities. This had negative impact upon overall supply chain of businesses
which lowers down their profit margin.
It is observed that West London faced worst situations in terms of unemployment of
Youth. One of the country where highest rate of unemployment present is known as Croydon as
per the latest figures released by office of National Statistics. Around 7900 individuals who
belong between the age of 16 to 24 years are out of work (Emerson, 2015). Also, other cities
which are belong from West London like Lambeth, Wandsworth, Hammersmith and Fulham
faces the same situation to due to the result of Brexit regarding unemployment. The
unemployment rate which was present in capital right now around 7.8% to 7.9%. Not only
businesses faced the negative impact of Brexit, economy of UK also got diminished. The special
impact was ascertained upon West London cities. From the review of the figures of GDP of
2016, determined that Brent and Wandsworth are far behind in terms of growth from Hackney.
In 2016, GDP growth rate in Brent is 5% and in Wandsworth is only about 4% (Talani, 2018). It
is clear from the above description that from all of the regions of London, West cities had worst
situation. The basic cause behind the presence of higher unemployment in West London was
failure of businesses due to the situations emerged because of Brexit.
UK pay their maximum attention toward establishment of business organisation by
implementing creative ideas on the basis of industrial requirement after Brexit Referendum. All
these strategy assist to maximise economy growth in order to easily cover up with tough
situations. After Brexit referendum, some of the businesses are majorly impacted as -
Technology – After Brexit referendum, UK faces maximum threats due to Effectiveness
of European tech capital and attractiveness of Investors towards them. For financial technology
firms, it is a biggest challenges to raise their business structure in UK, where have might
possibilities to enable services customers easily (McCullagh, 2017). Major issue in establishment
of Technological firms is appropriate resources of funds that assist to adopt advance technology
for business development approaches. One other issue in this sector is recruiting skilled
candidates who has decorous knowledge of utilization technology for business purpose.
Individual who are belongs to EU has less willing to come in UK now for employment services.
14

In that case, UK provide opportunities to those individual who belongs to different countries and
have potential skill in technology sector. As its result, major IT sector organisation who appears
currently are believe that London is a only place that provide lasting opportunities to such firms.
Therefore, Facebook introduce their new office in London and provide proper investment as well
as job opportunities to young generation.
Banking – As per the research of professional services firm, it has been identified that
UK faces maximum loss in financial services by the maximum turnover of employees in this
industry. Number of financial jobs has been fallen after the next day of Brexit (Schiereck, Kiesel
and Kolaric, 2016). Hence, major financial services group as Morgan Stanley, Citigroup,
Nomura and others are declared that they relocating their operational activities from UK to EU.
Bank of England also spending maximum time to analyse ways to enhance investment and funds
for future development activities (Alonso and Manuel, 2016).
Automobile industry – Brexit has major impact on manufacturing industry in which
most of the motor vehicle firms identified no-deal situation during higher industry tariffs. As its
result, some of the automobile or manufacturing firm shift their business outside the UK in order
to maximise their production approaches easily. In this case, some of the researcher and
entrepreneurs are warned that failure of establish proper trade in UK can determine as major
damage within the overall industry.
CHAPTER 3: RESEARCH METHODOLOGY
This section of research is basically uses to collecting ethical evidences which provide
authenticate information in a better manner. The main objectives of a research is to identify
potential results and outcomes in a effective manner. Methods of research are classify in several
aspects in which researcher can opt one specific option that helps to providing appropriate
sources as well as results. The methods of tools have been consider several tools and techniques
that helps to providing better outcomes easily. In order to getting exact information on Brexit
referendum, researcher requires to collect authenticate data from appropriate sources that helps
to examine its direct impact on business start-ups in West London (Hayley, 2016). This is not an
easy process because in it, investigator requires to analyse proper details about several aspects
that are affected business operations in UK. While conducting a proper analysis, investigators
requires to examine nature of their research in order to choose a better method. Through this,
they can easily minimise risk and protraction for getting authentic final results. It helps to reduce
15

extra time in the collection of those informations that are easily available through published
sources. Basically a methodology is uses to represent view and opinion on a specific topic that
assist to define presentation effectiveness. Apart from this, the section is provide appropriate
objective of research that are requires to accomplish effectively. The research methodology is
determine -
3.1 Research Philosophy
This is a most important aspect of research that assist to provide exact way to getting facts and
data for collection purpose. An investigator requires to consider and follow such aspects properly
in order to conducting accurate pattern of research in a proper way. Philosophy for a research can
be determine in two different manner as positive or negative in which positivism philosophy is
uses to supporting real facts by eliminating rumours for an topic. In order to analyse most
specific informations and data, investigators majorly adopts data collection technique between
qualitative and quantitative that assist to gather positive data in a effective manner.
3.2 Research strategy
This approach of research of uses to accomplish a target objective in effective manner.
Research strategy is basically determine a specific approach that are undertaken by researcher in
order to analyse that adequate resources are accessible to completing project work. Through this,
investigator can easily design a suitable framework for their project which are based on target
objectives of research. The major strategy of this project is to analyse impact of Brexit
referendum on new star-ups in west London (Owusu-Ansah, 2012). These impacts can be
allocate on the basis of star-ups births and death. All these activities assist to provide major
impact of such factors on the economy of UK.
3.3 Research design
This is a most specific section of this analysis that determine methods and techniques
which are uses to conduct a research. These are the blueprint of analysis approach by which most
significant methods are carried out in a effective way. Through this, a specific topic of research
is uses to represent in a descriptive manner (Vines, 2018). These designs refers to overall
strategy that uses to integrate several components in a logical way that provide desired outcomes.
On the basis of this, researcher can address different ethical and hypothesis problems that can
16

affect study. For this, data is required to collect through several resources as in this research
maximum contents is gather by websites and article in secondary research format.
3.4 Significance of research
A research methodology is a most specific approach that uses to determine element that
assist to representing descriptive information on a topic. For this topic, research is uses to
determine impact of Brexit referendum on economy of UK (Arnorsson and Zoega, 2018).
Through this, researcher can analyse appropriate information that uses to determine effectiveness
of new start-ups. Through this, researcher can collect proper data through different sources that
provide more significant information in the terms of legality. All these approaches assist to
manage data and information in more specific manner in order to utilize them easily. The issues
related to research can be resolve by proper analysis factors in order to getting effective
outcomes.
3.5 Ethical issues
While conducting a research, investigator needs to consider confidentiality, honesty and data
protecting in order to safely record informations. All these approaches assist to represent
authenticate information for better utilization in future terms. Through this, investigator can
determine a quality information in front of others. In a research process, researcher is responsible
for each thesis that requires to represent ethical view point on a significant topic (MacDonald,
2012). During a proper analysis procedure, investigator requires to consider that the result of
research describe a impactful outcomes on a topic. Some of the major consideration in research
approach are transparency, authority and legality in order to use information in more appropriate
manner.
3.6 Research Method
For a researcher, it is required to adopt most specific method between qualitative and
quantitative process. All these factors are uses to collecting types of information in different
manner. Major method of research are qualitative and quantitative that are uses in different
manner.
 Qualitative method – In this process, objectives of research are basically collected by a
theoretical form in which analysis approach determine on the basis of age, gender,
opinion and views in terms of gathering authenticate information.
17

 Quantitative method – This is a wider process in which data is collected by statistical
form. The criteria of such research methods re specific which is hard to collect by any
one. In this research, investigator adopt quantitative methodology in order to represent
specific information on the basis of graphical representation. All the data represented
through statistical form in order to represent a most specific view point (Whitman,
2017).
3.7 Data collection and data analysis method
In this method, data and informations are collected through two different methods that
assist to providing appropriate content on specific topic. The methods of data collection are -
 Primary method – In this method, researcher analyse present information that are based
on fresh data. For this, they can adopt different sources as Interview, questionnaire,
survey and so on. All these methods are assist to understand present view point of
individuals.
 Secondary method – These types of research are based on historical data which are
published for learning perspectives. Major sources of this research are Website, Books,
magazine, published articles, blogs and so on. In this research, data and informations are
collected through this method. Such as -
1: Analysis about total number of births of new enterprises
In order to make proper analysis of the data, it has been seen that researcher need to take
help of various measure of central tendency and standard deviation. It will lead to typical value
for which probability distribution can be done. It can also be centre or location of overall
distribution of various data that are based on total number of birth of new enterprises for the year
2015 and 2016 (McGrattan and Waddle, 2017). It is used to determine single value that provide
specific ways in which a group or observation of data collected on the basis of new enterprises
must be around a central value. below mentioned all the information that is related with total
number of birth of new enterprises is being discussed underneath:
COUNT OF BIRTHS OF NEW ENTERPRISES for 2015 to 2016
Code Region 2015 2016 Difference
E09000009 Ealing 3,420 3,590 170
E09000015 Harrow 2,605 2,710 105
E09000017 Hillingdon 2,310 2,490 180
E09000018 Hounslow 2,525 2,615 90
18

Statistics
VAR00001 VAR00002 VAR00005
N Valid 4 4 4
Missing 0 0 0
Mean 136.2500
Median 137.5000
Mode 90.00a
Std. Deviation 45.34589
Sum 545.00
a. Multiple modes exist. The smallest value is shown
VAR00001
Frequency Percent Valid
Percent
Cumulative
Percent
Valid
E09000009 1 25.0 25.0 25.0
E09000015 1 25.0 25.0 50.0
E09000017 1 25.0 25.0 75.0
E09000018 1 25.0 25.0 100.0
Total 4 100.0 100.0
VAR00002
Frequenc
y
Percent Valid
Percent
Cumulative
Percent
Valid
Ealing 1 25.0 25.0 25.0
Harrow 1 25.0 25.0 50.0
Hillingdon 1 25.0 25.0 75.0
Hounslow 1 25.0 25.0 100.0
Total 4 100.0 100.0
VAR00005
Frequency Percent Valid Percent Cumulative
Percent
Valid 90.00 1 25.0 25.0 25.0
105.00 1 25.0 25.0 50.0
19

170.00 1 25.0 25.0 75.0
180.00 1 25.0 25.0 100.0
Total 4 100.0 100.0
From the above statistical analysis, it has been found that Hillingdon region has maximum
number of new enterprises as compare to other. On an average of 136.25 they are opening a new
20

venture within the particular places. Eagling is another region were birth of new venture are
more. The standard deviation used to indicate that overall data points are spread out over a wide
range of values. As it has been found that the deviation of 45 is analyzed under this overall birth
of the enterprises. The overall outcomes indicate that there are maximum number of enterprise is
being setup from 2015 to 2016.
Mean: It must be preferred as effective measure of central tendency, because it used to
consider as one the effective values that are mentioned within a given data series. It has been
seen that there is not limitation to a mean. In the above analysis, it has been seen that the total
average of 136.25 is being gather from the overall data collected about the opening of new
enterprises. Hillingdon is one of the region that records opening of new enterprises as compare to
other region.
Median: It is said to be the value of other measures of central tendency that is used to
determine mid value of within any given data set. They are having an odd number of data, then
its value is right in the middle. The above data is showing median value of 137.5 in the presented
data.
Mode: It is known as statistical terms that refers to the most frequently occurring wide
number of data set of number. It is found through collecting and analyzing data in respect to
count the total frequency of each outcomes. Likewise, a number 90 is the most repeated number
found in the data table of new birth enterprises.
2. Analysis about the total death of enterpries
Under this segment, various information about total number of death of closing of
enterprises is being seen from 2015 to 2016. The total number of death seen in 2015 is from
Eagling region with total of 2070. The results get more worst in next year which is 2016. An
increment of 350 more enterprise get close from the same region. This seems to be primary
concern from the country. The results are more drastic as maximum number of enterprises has
been shut down in 2016 as compare to the last year. The specific details is being mentioned
underneath:
COUNT OF DEATHS OF ENTERPRISES for 2015 to 2016
Code Region 2015 2016Difference
E09000009 Ealing 2,070 2,420 350
E09000015 Harrow 1,715 2,140 425
21

E09000017 Hillingdon 1,450 1,785 335
E09000018 Hounslow 1,585 1,780 195
Statistics
VAR00001 VAR00002 VAR00005
N Valid 4 4 4
Missing 0 0 0
Mean 326.2500
Median 342.5000
Mode 195.00a
Std. Deviation 95.94921
Sum 1305.00
a. Multiple modes exist. The smallest value is shown
VAR00002
Frequency Percent Valid Percent Cumulative
Percent
Valid
Ealing 1 25.0 25.0 25.0
Harrow 1 25.0 25.0 50.0
Hillingdon 1 25.0 25.0 75.0
Hounslow 1 25.0 25.0 100.0
Total 4 100.0 100.0
VAR00005
Frequency Percent Valid Percent Cumulative
Percent
Valid
195.00 1 25.0 25.0 25.0
335.00 1 25.0 25.0 50.0
350.00 1 25.0 25.0 75.0
425.00 1 25.0 25.0 100.0
Total 4 100.0 100.0
22

According to the above column chart, it has been seen that Harrow region has seen
drastic downfall in the enterprise. A total of 425 enterprises has been shut down from 2015 to
2016. After this 350 enterprise in Eagling has been closed. The mean value of all four regions is
calculated with total of 326.
Standard deviation: It is said to be one of the effective measure of dispersion given in a
data series from their total mean value. It is the measure of average distance among the values of
data set and total mean value. In case of low deviation, the data point tends to be very much
close to the mean value. In case, it become high standard deviation that data spread out over a
wide number of values. The standard deviation is also too high.
3.Correlation between Birth and death rate
Correlation is numerical measure that indicates that overall extent to which two or more
than two variable get varies together. In case of positive relations that indicate extern to which
those variable increase or decrease in same line. The below mentioned specific detail about the
birth and death relationship about the enterprise. It will be prepared to determine, whether there
is any relation among each other. The detail are mentioned underneath:
Correlation Birth Death
E09000009 Ealing 170 350
E09000015 Harrow 105 425
E09000017 Hillingdon 180 335
E09000018 Hounslow 90 195
Descriptive Statistics
23

Mean Std. Deviation N
VAR00005 136.2500 45.34589 4
VAR00006 326.2500 95.94921 4
Correlations
VAR00005 VAR00006
VAR00005
Pearson Correlation 1 .319
Sig. (2-tailed) .681
N 4 4
VAR00006
Pearson Correlation .319 1
Sig. (2-tailed) .681
N 4 4
From the above calculation, it has been analyses that there is no any significance
difference among birth and death rate. There is no any direct relation among all the regions. As
the birth is found maximum in the Hillingdon while the death of enterprise in the same region is
only 335. While the closing of companies in harrow is more than their birth. Thus, it has been
determining that all of them are opposite in relations.
RECOMMENDATION
Throughout the assessment it has been understood that UK was encountered a major
downturn after Brexit as their economic crisis was getting maximized. In fact, around 49% of
members have voted against this sparking initiatives whereas rest members wanted that UK
needs to comes out from European union. As a result, numerous of problems was incurred and
even people are still facing number of issues which affect their day to day life. However, entire
project is focussing on showing the drastic changes that is encountered by west London after
Brexit. For example; major down fall in employment, shortage of income, hard to survive,
24

minimization of success opportunities henceforth. After assessing viewpoints of several authors,
specialist, entrepreneurs, successful leaders and specialist it is discussed that West London needs
to concentrate on their success by taking several initiatives. Along with this, governing bodies
are also becoming liable for introducing specific or unique laws, norms, rules and regulations for
controlling wrongful activities. In order to overcome some of the essential issue, corporate world
is trying to establish new start-up's and small business for resolving unusual problems. In fact,
number of problems was also getting resolved such as; due to the emergence of various new
business number of unemployed persons are getting opportunities to groom themselves.
Moreover, it aids in maximizing the revenue of overall nation in order to control various
complex circumstances.
Additionally, maximization of investment is really indispensable for UK as it helps
overall country in overcoming several problems such as; emergence of innovative ideas,
introduction of modern trends, maximization of national income and so on. Instead of all these
things, most sparking problem that is faced by west London is; economic crisis, political
instability, shortage of funds, maximization of health issue due to improper cure and
unavailability of proper care centre and so on. By analysing all the above obstacles and subjects
it has been understood that UK needs to focus on few major factors for controlling the level of
problems.
First or foremost factor that requisite to get promoted is; “development of new start-
up's”. Almost half of the project is focussing on this approach because small business is
considered as a base of large success and achievement. Due to the enhancement of these
organization, nation can easily overcome few of their problems like; common people can acquire
a golden opportunity of success by presenting themselves in front of the society. As a result,
unemployed people can live their livelihood by fulfilling basic needs which shows the upliftment
of UK economy. Furthermore, these small business and start-up's is going to identified as top
most multinational organisation by offering job opportunities to the young generations.
Meanwhile, various graphs and diagrams have shown the significance of new business at UK
marketplace as around half of the development is totally based on small entities. Apart from this,
numerous of benefits must incurred such as; inspired other members to become self-dependent,
enhancement of personality of individuals, aids in gaining competitive advantages, profit
25

maximization of nation henceforth. Last but not the least, this factor shows that promotion of
start-up's is most useful for overall economy of a nation.
Secondly Travel and tourism is the major industry that requires a effective promotion
and investment in order to enhance growth options for the economy. UK is the most sparkling
country in the world that has several of monuments for visitors attractions. The country always
provides marvellous experience to their visitors. The private sector industry has the key role to
play in tourism industry which are fragmented on a perception that approx. 200,000 small and
medium tourism businesses are hosted in next few years. These developments are required a
specific investment and fund for new start-ups that assist to providing their positive contribution
ion economy development procedure. Travel and tourism sectors is the only sector which has
direct contribution in the higher GDP rates. The predication are all based on authenticate
suggestion which can be implement easily in order to enhance growth process and activities.
Thirdly Foreign direct investment is also requires to heighten in order to investing
appropriate amount of funds in small and micro start-ups. The major FDI inflow in the UK are
goes through financial industry. The referendum process raises concerns among such investors
for higher trade cost with European union. The investment activities are required to put on which
are assisting to maximising foreign relation policies in positive manner. These kind of business
ideas will helping to enchaining international import and exports services for betterment of
foreign trade. The Foreign investment has fallen drastically due to the overseas of some major
business in UK. For this Government of Britain requires to take initiative for improving foreign
investment approaches for growth procedure.
All these suggestion are based on analysis prediction in order to convey a better direction
for development of UK economy.
CONCLUSION
As per the above report, it has been summarised that UK faced several challenges as
politics and society have changed after the Brexit referendum. The major motive of this research
is to determine that how political situations influence in a economy development and growth. In
this process, major issues has been faces by small business firms or start-ups that requires a
effective stability but affected by numerous factors. In UK, these challenges are ascertain after
Referendum in which United Kingdom leave European Union with a majority of votes. This
process was going to in air on June 23rd , 2016. After this, some of the economy factors
26

experienced a short-term downfall in the terms of investment and growth that have even
improved in half of the years. At that time, Government of UK was mainly focused towards
establishment of start ups in order to create stability in economy. These initiatives was take a
proper place and provide effectiveness in UK economy. At that time, government and business
entities faced maximum crises in terms of funds, stability, international trade, technological
advancement and employment opportunities. In that case they were required to got proper
resources that assist in effective establishment of small and micro businesses. These are the only
mid points which can aid to enhance development approaches within country. As its results,
small business organisations are majorly paid their attention toward future development as well
as growth. After Brexit referendum, the strategy of these business firms are to reduce costs of
products and services in order to create international business terms that assist to enhance growth
of economy effectively. Eventually the cheap imports from the manufacturing industry has been
getting desired growth of imports. Through this, these start-ups provides opportunities for
employment process that get trapped in low wages job. The west zone of UK faces maximum
challenges in the terms of birth and death of start-ups. This research is represent more specific
information in a statistical format on the birth of start-ups in West London. Before Brexit, UK
take various support from European union in the terms of technology, raw material, investment
and so on. Through this, business organisations were attained several advantages in the terms
maximum business services. After Brexit referendum, UK faces such challenges through lack of
investment, technology and material in order to manage production services more effectively.
The economy of UK faces several challenges in the terms of redevelopment of those business
start-ups. In the terms of referendum, it is partly conceivable that Britain maintain trading and
regulatory relations with EU which is considering in Soft Brexit while as isolated trading
framework within the country can impact as hard Brexit. All these activities has major impacts
on business start-ups and economy growth. The major changes in business industry are analysed
after referendum process in West London in which major small start-ups faced death rather than
new establishment which was create crises in UK economy. Hence, London is the hub of new
ideas in the terms of business industry and others but after Brexit, number of investor are
minimised with a drastic impact which was unbearable for authorised bodies. As its results, they
implement impactful strategy to reduce cost of products and services for a limited period in order
to enhance foreign investment procedure of import services. Through this, economy of UK faced
27

a bit cover-up position by strategic approaches. UK is the only sparkling country in the world
that has majority of attraction that assist to promote tourist toward them. Travel and tourism
sector of UK is the one most fast growing industry that assist to maximise growth and
development approaches in the economy. So for this, some major recommendation are provided
in this research that requires to implemented by government of UK in order to enhance
maximum opportunities for sustainable growth. All the above recommendation are based on
overall research process that assist to enchaining economical values of UK.
28

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