This report provides an analysis of the contemporary business environment in the UK, focusing on the impact of the COVID-19 pandemic and Brexit. It examines the economic consequences of the pandemic, including the decline in GDP, job losses, and increased national debt. The report also outlines the various economic responses implemented by the UK government, such as loan schemes, job retention programs, and support for self-employed individuals. Furthermore, it discusses the measures taken by the Bank of England to mitigate the economic damage caused by the pandemic, including sustenance of government bonds and reduced interest rates. Finally, the report explores the likely impacts of Brexit on the UK's economy, offering a comprehensive overview of the challenges and opportunities facing businesses in the current climate. This report is prepared in partnership with University of Suffolk as part of BABS Assignment.