Factors Associated with Brexit: A Detailed Analysis Report

This report provides a comprehensive analysis of the factors associated with Brexit, the United Kingdom's exit from the European Union. It begins with an introduction to Brexit and its significance, followed by a detailed examination of the factors, including sovereignty, immigration, funding, lawmaking, and the independent market. The report further explores the global significance of Brexit, including potential impacts on recession, innovation, and opportunities. It also examines the implications for the UK's relationship with the EU and the challenges faced by the UK's leadership. The conclusion summarizes the benefits and drawbacks of Brexit and emphasizes the importance of studying the associated aspects for long-term economic impact. The report references various books and journals to support its findings.

Individual report

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Detailed identification and explanation of the factors that are associated with Brexit................1
Conclusion.......................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
There are lot of businesses that are going on in the current market but some of them possess
a lot of importance as they are directly or indirectly related with the economy of the country and
thus they add to the value of the nation as a whole (Bozer, Levin and Santora, 2017). In this
report there is a detailed explanation of the factors that are associated with the law that is Brexit
which is a term that is given to the systematic exit of the Great Britain from the European
Unions. Apart from that the report also covers an elaborated examination and research of the
associated aspects that possess a lot of value for the UK and the EU as a whole.
MAIN BODY
Detailed identification and explanation of the factors that are associated with Brexit
The title "Brexit" was formed from the phrases "Britain" and "Exit." The word was coined
with the intention of separating Britain from the European Union or preventing the EU from
implementing any economic, migratory, or even other regulatory or legislative judgments.
Significance of Brexit vote for UK (Britain) – The referendum on Brexit is crucial for
the United Kingdom for the aforementioned purposes-
 Sovereignty– Nearly majority of European Union treaty obligations have been used to
gain additional influence over the European administration. Particular EU participants'
prominence is decreasing, as well as the EU was emphasizing European Union laws over
global security. In the EU, there has been very little or no discussion of policy defence.
 Immigration– The EU has an agreement which allows EU citizens to openly relocate
through one country to others (within the EU) while seeking employment opportunities,
residence, or vacation. However, these are causing a difficulty for the British public In
2015, 333,000 economic arrivals arrived in the United Kingdom from extremely
impoverished European nations like Germany, Iceland, Lithuanian, Ukraine, and
Bulgaria. In the end, it was about indigenous individuals’ learning chances throughout the
United Kingdom. On the other hand, others say that if correct emigration regulations and
criteria are all in place, Britain will attract more creativity and talented employees, while
staying in the Single market required the UK to allow all immigrants, regardless of their
talents or ability to communicate in English (Forkmann, Henneberg and Mitrega, 2018).

 Funding– As just a participant of the, European Union the United Kingdom was
scheduled to donate $19 billion to the EU budget each and every annum Proponents of
Brexit, on the other hand, argued that perhaps the revenue would be properly invested on
the country's interests, healthcare sector or amenities. Ultimately, keeping the revenue
instead of investing that on the EU economy was preferable.
 Freedom for lawmaking– England's exit from the EU might offer it the ability to make
legislation, norms, and ordinances sans intervention from the European Union. Aside
from that, the United Kingdom would've been able to regulate its boundaries, restricting
superfluous emigration and thoroughly screening applicants. Furthermore, the United
Kingdom will have much more leeway to negotiate international Free Trade Deals sans
having to worry about the European Union.
 Independent market– Leaving the EU would offer England with a sovereign and
democratic marketplace governed by Brussels' regulations. There'll be additional options
to collaborate between EU and non-EU countries. By increasing trading relationships all
around world, the United Kingdom could established a new trading benchmark and grow
its trading community. Apart from that the law gives additional freedom and ready
market to the United Kingdom so that it can expand its market to a wide geographic
location which can prove significant in its growth and prosperity of the country.
Global significance– The Brexit referendum is significant around the world because it could
have these unintended consequences-
 Recession– Many supporters of British remaining throughout the EU argue that even if
the UK industry falls into depression it would have a significant influence on global
GDP because it will affect the UK's trade flows. The United Kingdom contributes
approximately 3.6 percent of worldwide item importation and 4.1 percent of global
managed service importers. There would also be a 0.3 percent major influence on the
euro zone countries GDP, although the effect on certain nations will be far less.
Commerce would be impacted directly all around the world (Ghezzi and Cavallo, 2020).
 Innovation and opportunities– Britain's growth, creativity, and possibilities were
hampered by the European Union. This was only confined to the EU due to certain
foolish accords, but independence from of the EU could propel the UK to phenomenal
expansion and creativity. It will have the opportunity to achieve its complete capacity

instead of being stifled by EU restrictions. It will ultimately assist to improve
commercial connections with both internally as well as externally that is all around the
globe.
The parliament of the UK was established in the late 1600’s and thus since then it is
considered as a very important as well as integral part of the country and thus the independence
that it got from Brexit can be used to the maximum by building trade relations and increasing the
quantity of exports so that it can help the nation to stand well ahead in the market as compared to
other countries.
Potential implications to UK’s relationship with EU– Even after the Brexit crisis, the UK
and Canada are in close liaison. Both nations had decided to keep their financial ties going. They
trade $27 billion worth of commodities and activities with one another. Britain's biggest
economic relationship is with Canada. (After Brexit in 2020, the United Kingdom and Canada
have agreed to maintain existing trading relationships.) There is indeed a problem between the
two countries. Nevertheless, they think that while both governments must have a contingency
strategy in place in case they end up contact with one another or if relationships deteriorate for
whatever cause (Laukkanen and Tura, 2020).
With terms of Directive ties, all countries share a constructive partnership, as per the portal
of Global Affairs of countries. These nations enjoy deep relations and share a similar set of
beliefs.
In 1959, they entered into an accord for Collaboration in the Sustainable Applications of
Atomic Power to maintain a stable and safe balance. They've also inked a Comprehensive
Memorandum Of understanding that has strengthened economic connections. There have been
no indications that there would be any difficulties between the two countries. The United States,
Brazil, Russia, and Tokyo are the primary manufacturers with UK (Priem, Wenzel and Koch,
2018).
Challenges faced in the leadership of UK– The departure of David Cameron, then leader,
after the subsequent day's referendum was the very first blow to the UK leadership. Following
David Cameron's demise, deputy Chief Whip Theresa May was chosen Prime Minister. May
used Article 50 of the Lisbon Treaty (whereby there are 2 years for donating are did think,
essentially in the case of the UK, offering some other opportunity to reconsider the decided to
pull) to announce that the UK is perpetually removing from the EU and seizing ownership of all

cultural practices, commerce, economic migration, relationships, and so on. There had been
discussion over whether the resources must be distributed between the EU and the UK following
the split, according to Brexit: Five Problems for the UK before Leaving the Single market. The
agreement of key Euro zone countries, the UK government, and the EU commission was
required to resolve this disagreement. Those are the management and political issues that the
United Kingdom confronted throughout the Brexit crisis (Rosati and Faria, 2019).
Conclusion
From the above it can be concluded that there are a number of benefits as well as drawbacks
of the Brexit law that was passed earlier not only for the United Kingdom but also for the
European Nations thus it can be said that all the aspects that are related with it must be studied in
a very precise manner so that it can lead to the increase in the gross domestic product of all the
countries that are affected by it in the long run. Apart from that it can be concluded the
parliamentary sovereignty of the UK is a larger aspects and thus it stands well ahead of all these
aspects and the newly found independence of the UK is real as it can use to the maximum for
increasing its trade relationships with other nations.

REFERENCES
Books and journals
Bozer, G., Levin, L. and Santora, J.C., 2017. Succession in family business: multi-source
perspectives. Journal of Small Business and Enterprise Development.
Forkmann, S., Henneberg, S.C. and Mitrega, M., 2018. Capabilities in business relationships and
networks: Research recommendations and directions. Industrial Marketing
Management, 74, pp.4-26.
Ghezzi, A. and Cavallo, A., 2020. Agile business model innovation in digital entrepreneurship:
Lean startup approaches. Journal of business research, 110, pp.519-537.
Laukkanen, M. and Tura, N., 2020. The potential of sharing economy business models for
sustainable value creation. Journal of Cleaner production, 253, p.120004.
Priem, R.L., Wenzel, M. and Koch, J., 2018. Demand-side strategy and business models: Putting
value creation for consumers center stage. Long range planning, 51(1), pp.22-31.
Rosati, F. and Faria, L.G.D., 2019. Business contribution to the Sustainable Development
Agenda: Organizational factors related to early adoption of SDG reporting. Corporate
Social Responsibility and Environmental Management, 26(3), pp.588-597.