Impact of Brexit on Small Businesses in UK: A Project Analysis

This report provides a project plan to examine the impact of Brexit on small businesses in the UK, specifically focusing on Rowlison Knitwear. It outlines the project's aims, objectives, and research questions related to understanding Brexit's concept, the challenges faced by Rowlison Knitwear in managing business operations, and the strategies implemented to deal with the impact. The report includes literature reviews on the reasons behind Brexit, issues faced by SMEs such as supply chain disruptions and workforce challenges, and strategies employed to mitigate these effects. The project plan incorporates a Gantt chart for timeline management and concludes with recommendations for transparent business practices and crisis management adoption. The document also includes an executive summary highlighting the impact of Brexit on SME's functional and managerial areas.

PROJECT PLAN

Table of Contents
TOPIC: IMPACT OF BREXIT ON SMALL BUSINESS IN UK..................................................3
AN OVERVIEW OF PROJECT IDEA...........................................................................................3
PROJECT AIMS AND OBJECTIVES...........................................................................................3
Project aim..................................................................................................................................3
Project objectives........................................................................................................................3
PROBLEM STATEMENT..............................................................................................................3
LITERATURE REVIEWS..............................................................................................................3
TIMELINE ......................................................................................................................................4
Gantt chart...................................................................................................................................4
CONCLUSION AND RECOMMENDATION ..............................................................................5
REFERENCES................................................................................................................................6

TOPIC: IMPACT OF BREXIT ON SMALL BUSINESS IN UK.
AN OVERVIEW OF PROJECT IDEA
Brexit is considered as the decision in which withdrawal has taken place of United
Kingdom from European Union (Hohlmeier and Fahrholz, 2018). Post Brexit situation has
shown that there are certain changes in Britain's trade and regulation in which small businesses
are facing drastic changes (Brown, Liñares-Zegarra and Wilson, 2019). The small businesses are
having limited places by which they are taking raw material and other supplies. Due to
implication of Brexit these small industries have seen different issues in their business
management.
PROJECT AIMS AND OBJECTIVES
Project aim
To examine the impact of Brexit decision on business functions of small businesses
operating in the United Kingdom. A study on Rowlison Knitwear.
Project objectives
 To analyse the concept of Brexit and major reasons behind this decision
 To investigate the issues faced by Rowlison Knitwear in managing business operations
due to the decision of Brexit
 To discern the strategies used by Rowlinson Knitwear to deal with impact of Brexit
PROBLEM STATEMENT
The major problem identified within the research is related with analysing the impact of
Brexit on SME's existed within UK. This has been analysed that due to the implication of Brexit
the small businesses have faced issues in their business operations and supply chain as well. The
LITERATURE REVIEWS
Brexit is considered as the decision taken by UK for withdrawal from European Union.
There were several reasons of Brexit such as economic downfall, sovereignty and political
reasons (De Ville and Siles-Brügge, 2019). There are various issues faced by SME's due to the
implication of Brexit such as loosing of talented workforce, issues in supply chain, issues in
accessing market, customer churn and different others (McGrattan and Waddle, 2020). In order

to deal with this issue Rowlinson Knitwear has used different strategies such as the organisation
have used advanced technologies for managing business functions and at the same time the
organisation is trying to protect their brand image so that customer retention can be increased.
TIMELINE
Gantt chart
Gantt chart is considered as the tool of project management that can be used by the researcher so
that different activities can be elaborated along with their starting and ending point. For the
current project plan the Gantt chart is shown as under:

CONCLUSION AND RECOMMENDATION
From the above discussion this can be concluded that after the decision of Brexit, severe
impacts was received by SME's situated in UK. The SME's are having a very lesser clients by
which they are taking their material and at the same time the organisation is having limited
number of employees. Due to the decision of Brexit such industry have seen issues in their
business functions and execution of business practices.
This is recommended that the organisation should use transparent business practices so
that easy execution of functions can be made. At the same time the organisation should adopt
crisis management practices so that situations of contingencies can be managed.

REFERENCES
Books and journals
Brown, R., Liñares-Zegarra, J. and Wilson, J.O., 2019. The (potential) impact of Brexit on UK
SMEs: regional evidence and public policy implications. Regional Studies, 53(5),
pp.761-770.
De Ville, F. and Siles-Brügge, G., 2019. The impact of Brexit on EU policies. Politics and
Governance, 7(3), pp.1-6.
Hohlmeier, M. and Fahrholz, C., 2018. The impact of Brexit on financial markets—Taking
stock. International Journal of Financial Studies, 6(3), p.65.
McGrattan, E.R. and Waddle, A., 2020. The impact of Brexit on foreign investment and
production. American Economic Journal: Macroeconomics, 12(1), pp.76-103.

NEGOTIATED
ASSESSMENT

EXECUTIVE SUMMARY
For an organisation their functional and managerial areas are major for them to attain all
the business objectives in defined manner. Brexit is the decision in which UK has taken
withdrawal from EU so that to manage all the functions independently. This decision has
impacted the SME's existed within UK in which the companies are trying to manage their
business functions. The researcher has shown regarding different impacts drawn within SME's in
respect of decision of Brexit.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
BACKGROUND OF CHOSEN TOPIC..........................................................................................4
PROJECT AIM, OBJECTIVES AND QUESTIONS.....................................................................5
Research aim...............................................................................................................................5
Research objectives.....................................................................................................................5
Research questions......................................................................................................................5
LITERATURE REVIEW ...............................................................................................................5
What is the concept of Brexit and major reasons behind this decision?.....................................5
What are the issues faced by Rowlison Knitwear in managing business operations due to the
decision of Brexit?......................................................................................................................6
What are the strategies used by Rowlinson Knitwear to deal with impact of Brexit?................7
THE PROBLEMS IDENTIFIED IN THE AREA OF INTEREST DURING THE PROJECT.....9
CONCLUSION AND RECOMMENDATION .............................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Brexit is considered as withdrawal of the UK from the European Union as this is
regarded as the acronym for Britain exit. Brexit is related with the chance of Britain from
moving back to European Union. This has the largest impact over the social and political aspect
of the country in which different negative element were seen in context of overall growth of the
businesses situated in UK (Chang, 2018). This decision have also impacted the income level of
individual in which using different trade practices the overall income was decreased. As of the
current scenario this has been analysed that the impact of Brexit was seen on majority of SME's
in their functional and operational management. The current report is emphasised over
understanding the impact of Brexit on the business functions of SME's situated in UK.
The major rationale behind conducting the current research is that this is related with
examining the impact received by SME's due to the decision of Brexit. The report is connected
with dual perspective of the researcher such as personal and professional (Lehmann, 2016).. In
the context of personal perspective after conducting the current research, the researcher will
increase different skills such as research skills, communication skills and different others so that
the same can be used by the researcher in order to unleash in their career. Whereas in terms of
professional skills the current research will lead the researcher to understand regarding aspects to
be covered within research while executing the research so that in future researches proficiency
can be attained by the researcher.
BACKGROUND OF CHOSEN TOPIC
The background for the current research is the United Kingdom and European Union.
The report is revolving around the decision of Brexit which was taken by the UK as in terms of
withdrawing their membership from European Union (Berthou and et. al., 2020). The decision
have taken much hype as this was an international issue which was related with sake of UK and
EU as well. The report is associated with examining the impact seen by SME's existed within
UK due to the decision of Brexit. The SME's are associated with having very tiny business
functions and their reach is also limited. The current report is based on Rowlinson Knitwear is a
manufacturer of school wear for kids. The organisation is situated in UK and due to the decision
of Brexit the organisation was facing differential issues in managing their business functions.

PROJECT AIM, OBJECTIVES AND QUESTIONS
Research aim
To examine the impact of Brexit decision on business functions of small businesses
operating in the United Kingdom. A study on Rowlison Knitwear.
Research objectives
 To analyse the concept of Brexit and major reasons behind this decision
 To investigate the issues faced by Rowlison Knitwear in managing business operations
due to the decision of Brexit
 To discern the strategies used by Rowlinson Knitwear to deal with impact of Brexit
Research questions
 What is the concept of Brexit and major reasons behind this decision?
 What are the issues faced by Rowlison Knitwear in managing business operations due to
the decision of Brexit?
 What are the strategies used by Rowlinson Knitwear to deal with impact of Brexit?
LITERATURE REVIEW
What is the concept of Brexit and major reasons behind this decision?
According to Păun, (2016), Brexit is considered as withdrawal of the UK from European
Union. This is referred as the acronym for British Exit. Brexit has given severe impact on
manufacturing and retail industry of UK. The decision has also given major impact on SME's
working in UK in which overall sales and profitability of the organisation was decreased. This
time was a crucial time in which overall businesses had issues in their management and
operations. Due to the decision overall income of individual was minimised so that their
spending capacity also seen a downward slope. Along with this, the implication of Brexit have
also impacted trade practices and operations of the economy in which new rules and regulations
were passed by the government. For SME's United Kingdom is considered as one of the
prominent nation which is giving huge opportunities to such organisations that to grow and
acquire success into the market. In the year of June 2016 52% vote was received in the support
of withdrawal and 48% have voted for remaining into European Union. The formal declaration

was made by government was on March 2017 and at last on 31st January 2020 United Kingdom
left European Union. This is the transaction which has attained higher attention over the world.
The withdrawal of Brexit was dependent on different reasons as due to these reasons
people have voted in the favour of such withdrawal. Some of the reasons are elaborated as under:
Economic downfall: This was the issue that many economists have said that European Union
was able to solve different issues related with economic activities of the nation (Vickers, 2017).
The unemployment rate in European Union was near about 20% and this is the situation of crisis
and this led one of the major reason for withdrawal of UK from EU (Ziv and et. al., 2018).
Europe is highly stagnated country in which people are not getting such growth opportunities
which should be provided to them. Within this stagnated economy the small businesses were not
able to grow and different issues came together for business survival. The European Union didn't
create financial support as the country is facing higher economic downfall. In order to deal with
such crisis the government of UK has decided to get an exit from European Union.
Sovereignty: The another reason of Brexit decision is the rising concept of nationalism across
the world. In this time UK and EU faced huge distrust in the decisions related with multinational
financial, trade, defence and many others. After the world war II various agencies was formed
such as IMF, NATO and many others. Many economists those are against EU believed that these
organisations are not longer serving any specific purpose in UK. The EU is not understanding the
power of nationalism in which living citizens are not able to take certain decisions so that to get
withdrawal from EU.
Political reason: The political leadership within Britain has faced dominant losses in recent
years in which the parties are thriving for their survival. The Britain was in great losses due to
which they lost their financial agility so in order to manage such position government association
of UK have taken decision that to withdraw their membership from European Union.
What are the issues faced by Rowlison Knitwear in managing business operations due to the
decision of Brexit?
According to Brakman, Garretsen and Kohl, (2018), there are various issues which were
faced by Rowlinson Knitwear after the decision of Brexit as due to the decision overall market
power of the organisation was decreased. Some of the reasons are elaborated as under:
Supply chain management: Supply chain management is defined as management of flow of
goods and services from raw material to final consumers. Supply chain includes different