Contemporary Issues: Assessing Brexit's Impact on UK Industries

This report examines the contemporary issues arising from Brexit and its impact on the United Kingdom's marketplace and various industries. It discusses the effects on trading activities, foreign direct investment, employment rates, interest rates, and liberalization and regulation. The report highlights how Brexit influences industries such as car manufacturing, fashion retail, and chocolate manufacturing. While Brexit offers potential advantages like building a competitive economy and establishing independent trade relationships, it also presents disadvantages, including limited access to the European Union's internal market and potential trade restrictions. The analysis considers both the potential benefits and drawbacks of the UK's departure from the European Union, concluding with an overall assessment of its impact on the nation's economy.

CONTEMPORARY ISSUES
(Brexit)

Introduction
Contemporary issues are related to the economic crisis, income
inequality, employment rate, climate change in the particular
country.
Brexit is the process that shows the departure of United Kingdom
from the European Union.
After leaving union, the country faces some of the contemporary
issues that are related to their growth and business.
The present report is based on impact of Brexit on the market place
and their businesses.

How does Brexit effect the market place of UK
European union is the union of 28 state members who are located in
the Europe. In order to perform well, the state government made
some laws and regulations that should be followed by all the
members.
Through these policies, the companies will be able to perform their
activities such as trading and operations in the internal market.
In 2016 a voting system has conducted in Britain, in which
everyone can take part so that decisions can be made that UK
should leave the European Union or not.

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Some of the issues are related to:
 Trading activities
 Foreign direct investment
 Employment rate
 Interest rates
 Liberalization and regulation

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Trading activities: Trade of UK is get affected after the separation
and this is depend upon the relationship between EU and United
Kingdom. Before the departure the companies will be able to freely
trade in the other countries without paying extra tax and customers
will be able to consume the products.
Foreign direct investment: The decision of the Brexit is highly
affect the FDI and their investment in other countries. Apart from
these, UK get some of the advantages such as they are free from any
legal laws of European and they can make their own policies in
order to increase their nations income.

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Employment rate: when United Kingdom is get separate from the
EU then due to this their employment rate is decreased. When this
get reduced then overall disposable income is also get affected.
Along with this, the companies have to follow all the regulations
related to employment so that smooth functioning can be ensured.
Interest rates: Bank of England support the decision of UK so that
their economy is get increased. They reduce the rate of interest from
0.5% to 0.25% so that overall efficiency can be achieved in the
country. When inflation rate is get increased then through this the
nations economy will not increase.

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Liberalization and regulation: European union made many
regulations and liberalization policy so that overall business will be
performed freely in the country. Brexit would affect the business
activities of the UK when they get separate from the EU. They made
their own laws and rules so that their nations economy can be
increased. For United Kingdom, UK is the biggest source of
demand so they are performing their trading activities with the other
countries.

Impact of Brexit on industries and sectors
Brexit give an impact on the industries and sectors of the
organization because through this the business organization will not
be able to increase their profits and improve their growth in the
market.
Loughlin, 2016 says that after the Brexit the companies of country
will be able to perform their business operations in the EU without
any tariffs or any boundaries.
These industries are car manufacturing, fashion retailer and the
chocolate manufacturing industries.

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Car manufacturing industries are their who perform their operations in
UK but they have to purchase some of their raw material from some
countries of European union. For example, TATA Motors, Honda motor
company ans so on.
After Brexit the enterprise will not be able to increase their revenues as
compare to pre-Brexit.
The another industry that affected by the separation are the retail industry
such as Tesco, Sainsbury, ASDA, Marks & Spenser and so on.

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There are some of the advantages and disadvantages for the United
Kingdom for leaving the European countries.
UK can build a competitive economy and make their separate identity in
the market so they will be able to attract many investors.
Along with this, they will be able to create a open economy market so
that overall nation economy can be increased.
They will be able to get an opportunity to perform their trade activities
with other countries not only with EU

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Through this, they can maintain their strong relationship with those
countries that will help them in increasing their revenues.
People who are leaving in British country will be able to get the job first
rather than other people.
Apart from these, there are some disadvantages of Brexit such as UK will
not be able to access the internal benefits of European unions and they
can only access the single market.