University Project: Impact of Brexit on Small Businesses in the UK

This project plan investigates the impact of Brexit on small businesses in the United Kingdom. The introduction provides an overview of the project idea, including its aims and objectives, which are to determine the impact of Brexit and analyze its positive and negative effects, as well as evaluate the challenges faced. The plan addresses the problem statement of lack of timing and funds. It includes a literature review summarizing the impact of Brexit on small to medium-sized businesses, highlighting challenges such as changes in trade regulations, customs, and indirect taxes. The plan also outlines a timeframe using a Gantt chart to illustrate the project schedule and dependencies. The conclusion summarizes the impact of Brexit on small businesses and references the sources used.

Impact of Brexit on small
business in the UK Project
Plan

Contents
INTRODUCTION...........................................................................................................................1
Overview of project Idea.............................................................................................................1
Project aims and objectives.........................................................................................................1
Problem Statement.......................................................................................................................1
Literature reviews........................................................................................................................1
Timeframe....................................................................................................................................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3
Online..........................................................................................................................................3

INTRODUCTION
Brexit is considered as possibilities of Britain withdrawing from European Union (EU). As
entities are performing harder for understandings what Brexit defines for its operations as well as
its staff both opportunities and risks (Fuller, 2020). In addition to this, the majority of ventures
have looked at various Brexit scenarios as well as attempted for assessing the impact, they are
devoting period at level of leadership as wwell as developing internal teams for managing Brexit
as essential project (Weiss, 2020). The aim of this report is to determine the impact of Brexit on
small business. The topics which are going to be described in this report are project aims,
objectives, problem statement, literature reviews and time frame.
Overview of project Idea
Project aims and objectives
Project aim
“To determine the impact of Brexit on small business”.
Project objectives
 To analyse the positive and negative impacts of Brexit on small business.
 To evaluate the challenges faced by small business due to Brexit.
Problem Statement
The problem statement for this project plan is lack of timing as well as funds.
Literature reviews
What are the impacts of Brexit on small business?
According to Jeo Jarvis, Small to medium –sized business involves a whopping 99.3% of
private sector venture within United Kingdom. So, as to leaving EU means leaves custom union.
Additionally, Non- EU markets, into trade deals absence are subject to EU tariff into alignment
with WTO’s most flavoured nation Clause. Along with tis, UK secured a deal of trade whic
enable business of Unitedd Kingdom for continuing tariff free trade with their EU neighbours.
The rules however are somme different than before.
What are the challenges faced through small business due to Brexit?
As per the viewpoint of Keir Thomas-Bryant, there are various challenges faced through
small business due to Brexit such as tackling an enhances into business admin following Brexit,
deling with the impact of brexit and others. Few are explained below:
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Guidance on tax, safety standards, and personal data
Brexit impact upon exports (and imports)
Customs as well as indirect taxes like VAT for imports/ exports to EU are ensures to
change folloing Brexit, related of either it has a no-deal Brexit or withdrawal period
(Klimavičiūtė and et. al., 2020). Moreover, it would impact both goods or services sold into EU
through UK businesses. In addition tto this, government have published a document upon how
to develop for Brexit if of a no deal. Along with effective policy for keeping with respective
documentation. Be prepared for moving in faster way as within no deal Brexit event, there is
similarly to be much time to adopt for Brexit on trade impacts.
Timeframe
For respective project plan, the time frame is set through Gannt Chart as it is a kind of baar
chart which illustrates whole project schedules (Ojo and et. al., 2020). Moreover, this also
represents the ddependdent relations among practices and present schedule status.
CONCLUSION
Based upon the above report, it has been concluded that small business has get impaactedd
through Brexit and also certain nation have to deal with various circumatnces as well as changes.
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REFERENCES
Books and Journal
Fuller, G.W., 2020. Subtraction by subtraction?: Brexit and its impact on the common European
financial space. In The European Union after Brexit. Manchester University Press.
Klimavičiūtė, L. and et. al., 2020. The Impact of Brexit on Young Poles and Lithuanians in the
UK: Reinforced Temporariness of Migration Decisions. Central Eastern European
Migration Review, pp.127-142.
Ojo, O.M., and et. al., 2020. Brexit: potential impacts on the economic welfare of UK farm
households. Regional Studies, pp.1-13.
Weiss, T., 2020. A small state’s anticipation of institutional change: effects of the looming Brexit
in the areas of the CSDP and internal market. European Security, 29(1), pp.1-15.
Online
Impacts of brexit on small business. 2021. [Online]. Availabe through:<
https://www.lightspeedhq.co.uk/blog/what-is-the-impact-of-brexit-on-uk-businesses/>.
Challenges faced by small business due to Brexit. 2020. [Online]. Availabe through:<
https://www.sage.com/en-gb/blog/brexit-impact-on-business/>
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