Brexit:The Impact On Small And Medium Enterprises(SMEs) And Entrepreneurs In England,United Kingdom

The United Kingdom(UK),on the 23rd of June 2016 much to the surprise of the rest of the world supported to leave the European Union(EU).This was and is going to change the economic and political wave.Over the past four decades,the relationship between the UK and the EU has not only flourished but trade laws and economic activities have been linked.Their membership co-operations including laws are moulded by the foundation of the institution.The leave campaign had argued that businesses would thrive once they are undependably free to establish their own trade laws as well as cutting the "Red tape" from Brussels.The UK would then be able to model its own free trade agreement with fast-growing continents like Asia,Africa,and other non-EU members.The following response that followed resulted in the pound declining to its minimum position since 1985(Bloomberg,2016).As discussions on the procedure of how Brexit will be implemented continue to follow,it is no wonder that most businesses are planning contingently to restrict exposure to quickly transforming market situations.Brexit can affect every aspect of the British economy,businesses and way of life.These uncertainty and its effects is a huge challenge for the British people and former allies.Small and medium-sized enterprises(SMEs)and entrepreneurs are finding planning for Brexit a challenging practise,as much remains unknown.Most entrepreneurs and businesses say that lack of information is a challenge,there are numerous different potential scenarios,including hard or soft Brexit,and a large number of short and long-term issues to understand,often with little certainty.The exact Brexit process is still unclear,and with the extensive doubt lying ahead,it is limportant that businesses review their risks and benefits to anticipate the final results properly.Therefore,the goal of this research is to review the risks and benefits for UK entrepreneurs and SMEs as a consequence of Britain's decision to leave the European Union.This research focussed on observing Brexit's effect on SMEs and entrepreneurs in the United Kingdom,especially England.