Data Analysis Report on the Impacts of Brexit on the UK Economy

This report delves into the impacts of Brexit on the UK economy, employing data analysis techniques to assess its effects on key economic indicators. The methodology includes secondary data collection from internet websites, books, journals, and articles, followed by data preparation and cleaning to ensure accuracy. Thematic analysis is used to interpret qualitative data, focusing on unemployment rates, foreign direct investment (FDI), inflation, and immigration trends. Results indicate that Brexit has contributed to increased unemployment, decreased FDI, rising inflation, and reduced immigration, negatively impacting the UK's economic growth and stability. Project management strategies, including task scheduling and team collaboration, are outlined to ensure the successful completion of the analysis. The report concludes with a learning reflection, highlighting the understanding gained regarding the complexities of Brexit's economic consequences.

Data Analysis, Tools and
Application 02 Data Analysis
Report

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
METHODOLOGY..........................................................................................................................3
Data collection.............................................................................................................................3
Data preparation...........................................................................................................................4
Data analysis................................................................................................................................4
Results..........................................................................................................................................5
PROJECT MANAGEMENT...........................................................................................................8
Project plan..................................................................................................................................8
Project collaboration....................................................................................................................9
Learning reflection.....................................................................................................................10
REFERENCES..............................................................................................................................12

Topic: To analyse the impacts of Brexit on UK economy.
INTRODUCTION
Brexit is an abbreviation of two words Britain and exit. It is referred to the withdrawal
process of UK from the EU and the treaty of EU that regulates with the withdrawal process of
member state. The economy of UK was affected due to the Brexit which was found to impact the
GDP of the country and was responsible for the reduction of the British income. In this report
this issue that is the negative impact of Brexit on UK economy has been developed. This topic is
quiet interesting because it has been a very noticeable factor that influence the operations of the
economy. Analysation of this study is about finding out the different data on how Brexit was
responsible for negatively affecting the study. This topic is important because it is going to
helping the group to learn about the different sets of data and how it affects UK economy. From
this project the different aspect of the group project is going to help in management of their
study.
Group Project Aims
The aim of this study is to find the ways in which Brexit has affected the economy of
UK.
Individual Analysis Objectives
 To understand the concept of Brexit and what it proposed the business.
 To analyse the Brexit and how it affected the economy.
 To utilize data and information for understanding the trends of UK economy after Brexit.
METHODOLOGY
Data collection
Data collection is the systematic process of gathering observation or measurements that is
essential for performing research on topic of affecting of Brexit on economy (Chofreh and et.al.,
2019). For this data collection only the secondary data is going to be collected that is gathered by
primary and secondary methods of data. In order to collect the secondary data this research has
selected the topic the data that has been collected from the internet website. For the other

information books, journals and articles are also referred. Secondary data is the type of data that
has been already published in the forms of books, newspapers, magazines, journals and online
portals. This abundance of the data is also available for the source about the research area. This
is also applicable for the appropriate set of criteria that are selected as the secondary data that is
used for the study to play an important role in the terms of increasing the level of research
validity and reliability. These criteria are also considered to be the including the limitation of the
date of publication that is able to analyse the credential of the author that provides the reliable
source of quality and discussion. The depth of analysis in this is related to the extent of
contribution of the text for the development of the research area. For this research the secondary
data is going to be used effectively for the analysation of the impacts of Brexit on UK economy.
Data preparation
The process of data understanding has been considered to be the factor that is said to be
able to get familiar with the data that is key towards the identification of the quality problems
that is said to achieve the results that are required. It can be said that the discovering of the first
insights into the data has been the key factor that is able to detect the interesting subsets towards
the hypothesis about the hidden information on the UK economy (Ika and et.al., 2020). For this
collected data the process of data cleaning has been used for fixing or removing the incorrect,
corrupted, incorrect formatted, duplicate data that is present in the entire data set. This is said to
be the key factor that is able to provide the data with the understanding that makes it easy to be
interpreted through various opportunities. This is also said to be the combination of different data
source for the labelling of the information. In the data preparation the pre-processing of data is
also very important as it helps the research to describe any type of data that is essential for the
preparation of the another ty
Data analysis
Data analysis is the process that is systematic for the application for the statistical and
logical techniques which are used for the description and illustration of the condense and recap
and evaluate data. There are different techniques that are used for the data analysis which are
considered to be used for the interpretation of the data that has been collected (Müller and Klein,
2020). Thematic approach is the method that is selected for this qualitative data that is able to
entail the search across the data for the identification of the analysis and report that is present in
the description of data. It is also considered to be involving the process that is key towards the

selection of the constructing themes. The use of this method has been able to help in analysation
of the qualitative data through searches across the data and their identity towards the analysation
of the report and repetition of the patterns. In this analysis the data gathered about the impacts of
Brexit on the UK economy has been analysed (Picciotto, 2020). For this project the analysation
of the ways in which the study is needed to be conducted has been analysed for the focus of
managing the interpretation that is in the process of selection of codes and construction of
themes.
Results
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
0
2
4
6
8
10
12
14
16
18
Percentage of all 16 to 24 year unemployed
From the above from it has been found that due to Brexit there was direct impacts over
the overall percentage of unemployment. Even though the unemployment rate in UK fell
gradually over the years in UK still it was very high during the time the Brexit Vote started after
2017. From the above graph it can be seen that the unemployment rate that has been falling in
UK during that time had started to get stable which are signs of impacts on the business. This
was due to the stop of growth in the economy that led to lack of new opportunities (de Toledo
and et.al., 2019). It was responsible for the decline in the UK employment rate that are recorded
to be very high. The trend of the unemployment was on the fall however, Brexit was the factor
that increased the unemployment rate specially in the start of 2020.

2010 2011 2012 2013 2014 2015 2015
0
50
100
150
200
250
300
350
400
450
Chart Title
The above table shows how in the economy of UK the Foreign Direct Investments benefit
to the economy started to decrease as the Brexit approached the business. This was directed to
the ways in which the businesses across the globe decided not to invest in UK (Foreign direct
investment involving UK companies: 2016, 2021.) It can also be said that this decrease the due to
the Brexit. As the concept of Brexit was started the more companies started believing that it is
going to negatively affect the economy. The result of this was that UK and its economy was
negatively affected and also the benefit of this company also decreased very significantly. It was
found that the Brexit will be having more negative affects to the new empirical analysis that is
towards implying of leaving the EU is going to be reducing the FDI flow in UK by 22%. These
sorts of losses in the investment has to be considered as the damage of UK productivity and
lowering of real income by 3.4%.

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
Average inflation
Inflation in the rate of increase in the prices over a given period of time. Inflation is
considered to be broadly measure of an overall increase in prices ad cost of living in the country.
From the above table it can be seen how the inflation that fell in 2015 started to increase as the
UK economy entered Brexit era. This is quite notable in the given graphical representation that
explains how the business is not being able to achieve the success that is required towards the
achievement of the growth. Due to the Brexit there has been a 6% rise in the prices of food
during 2017-18. This shows the direct impacts of Brexit on UK economy.
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
0.00
200.00
400.00
600.00
800.00
1000.00
1200.00
Sum of immigration
Immigration is the factor that is able to boost the economy by increasing the labour
supply and promoting innovation. For UK prior to the Brexit the immigration was increasing till
2016. This was a very positive new for the economy that provided it the success that it would

require. It helps the economy by increasing the labour supply ad promoting innovation. Thus, it
can be understood by this graphical representation that Brexit had a bad impact on the UK
economy.
PROJECT MANAGEMENT
Project plan
Task Mode Task Name Duration Start Finish Predecessors
Auto
Schedule
d
Identification of topic 2 days Mon 8/8/22 Tue 8/9/22
Auto
Schedule
d
Drafting aims 2 days Wed 8/10/22 Thu 8/11/22 1
Auto
Schedule
d
Framing objectives 4 days Fri 8/12/22 Wed 8/17/22 2
Auto
Schedule
d
Analyzation of methodology 5 days Thu 8/18/22 Wed 8/24/22 3,2
Auto
Schedule
d
Collecting information 2 days Thu 8/25/22 Fri 8/26/22 4
Auto
Schedule
d
Collating information into
data 3 days Mon 8/29/22 Wed 8/31/22 4,5
Auto
Schedule
d
Interpretation of Data 3 days Thu 9/1/22 Mon 9/5/22 6
Auto
Schedule
d
Development of key themes 2 days Tue 9/6/22 Wed 9/7/22 6,7
Auto
Schedule
d
Discussion and conclusion 2 days Thu 9/8/22 Fri 9/9/22 8
Auto
Schedule
d
Submission 1 day Mon 9/12/22 Mon 9/12/22 9

Project collaboration
Collaboration of the team were related to the different action that are going to help in the
achievement of the results that are considered to be the key towards the ways in which it would
provide the success that is required.

There was a development of aims and objectives that are going to be needed for the management
on the ways in which the business would be contributing to wards the achievement of the
objectives (Armenia and et.al., 2019). It can be said that the project that needed to be able to
gather the development of the factor that are gather success that is required. In this project the
methodology the preparation of the key strategies is going to be related to the coordination of the
factor that are going to be able to achieve the success that use essential for this project to be able
to gather the resources that are required (Armenia and et.al., 2019). Hence, the focus of the
organization is going to be towards the ways in which the business is able to develop new
operations.
Learning reflection
I was able to understand the ways in which the operations of the project is going to start with
the identification of the topic in which it is going to understanding the main concept behind the
topic. The topic of this project is to understand the impacts of Brexit on Covid-19. Hence, I was
focusing on the understanding is going to help in the analysing the factor I are considered to be
the effective for the ways in which the business would be facing situation. This is going to allow
us to achieve the results that required for the achievement of the results of the analysed
operations.
We were able to find out from the analysation that we are going to need to gain new
opportunities that are going to be contributing toward the success of the business. It has been
able to achieve the success that is considered to be the achievement of the objectives that have
been created for the management of the operations.
Time and money were the key factor that I needed for the project to be able to achieve the
results that would be the factor that is going to contribute towards the success. The major
problems that the we faced during the preparation of the project was the limitation of time and
money. I was able to find that the increase in the operational efficiency was related to the ways
in which the project is going to be able to act wisely for the preparation of their advantages.

REFERENCES
Books and Journals
Armenia, S and et.al., 2019. Sustainable project management: A conceptualization-oriented
review and a framework proposal for future studies. Sustainability. 11(9). p.2664.
Chofreh, A. G. and et.al., 2019. The imperative and research directions of sustainable project
management. Journal of Cleaner Production. 238. p.117810.
de Toledo, R.F and et.al., 2019. A scientometric review of global research on sustainability and
project management dataset. Data in brief. 25. p.104312.
Farashah, A.D., Thomas, J. and Blomquist, T., 2019. Exploring the value of project management
certification in selection and recruiting. International Journal of Project
Management. 37(1). pp.14-26.
Ika, L.A. and et.al., 2020. Cross-learning between project management and international
development: Analysis and research agenda. International Journal of Project
Management. 38(8). pp.548-558.
Müller, R. and Klein, G., 2020. The COVID-19 pandemic and project management
research. Project Management Journal. 51(6). pp.579-581.
Müller, R., Drouin, N. and Sankaran, S., 2019. Modeling organizational project
management. Project Management Journal. 50(4). pp.499-513.
Picciotto, R., 2020. Towards a ‘New Project Management’movement? An international
development perspective. International Journal of Project Management. 38(8). pp.474-
485.
Online
Foreign direct investment involving UK companies: 2016, 2021 [Online]. Available through: <
https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/
foreigndirectinvestmentinvolvingukcompanies/2016>