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The Impact of Brexit to Businesses in Uk

Essay by   •  May 16, 2017  •  Essay  •  353 Words (2 Pages)  •  568 Views

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Possible outcomes of BREXIT and its implications on the subsidiary based in the UK

Economic condition in Europe now is a bit changed due to the withdrawal of United Kingdom from European Union. Data shows that after UK decided to leave the EU, the growth of immigration from Europe increased and achieved 183,000 (The Economic Impact of ‘BREXIT’). This is one of good economic condition to EU to decrease the unemployment rate. Became a part of European Union, UK joined some trading networks with other members. However, after the withdrawal it may not freely trading with other members. Another impact caused because of Brexit is about country’s saving. As a member of European Union, UK contributed £10bn annually (The Economic Impact of ‘BREXIT’). There are two possibilities will happen regarding this issue. It has chance to save for money and allocate it into other projects or even it should pay another fee to continue its exports among the members of EU.

The effects above will inevitably lead to some implications for businesses located in the UK including the subsidiary. As it is stated, the immigration from Europe just increased after Brexit and it achieved 183,000. In macroeconomic point of view, this condition is good to decrease the unemployment rate. However, as a business this condition shows difficulties to our subsidiary because the number of employees gets decrease and it affects the production. European Union also applies free trade among members. At the time UK became the member of EU, it was freely to export and import goods among members (Impact of Brexit on Businesses in the UK, 2017). Since Brexit declared, United Kingdom cannot apply the rule anymore and it is tough for businessmen in UK because the country and EU are so dependent in exporting and importing raw materials (Critical raw materials). However, it is stated in Article 50 that any country decides to leave EU will be given 2 years negotiating an adjusted trading rules. Above these negative impacts, the withdrawal also brings a benefit for the business in UK because the country does not need to contribute £10bn annually to EU.

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