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To What Extent Is Uk Membership of the Eu an Opportunity for Uk Businesses?

In: Business and Management

Submitted By charlotteward5
Words 687
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To what extent is UK membership of the EU an opportunity for UK businesses? (40)
To a large extent, EU membership arguably is an opportunity for UK businesses as it allows them to operate in a single market. The ability for members to trade without restrictions or tariffs is a significant benefit to business, with imports and exports being made easier and sometimes cheaper. In addition, the EU is Britain`s biggest trading partner with it being worth more than £400bn a year. The possibility such benefits could be taken away has probed business to come out and speak on a possible EU exit. A key example of this is the European aerospace and defence giant Airbus. Paul Kahn, president of Airbus UK has revealed the company would reconsider investment in the UK in the event of Britain leaving the European Union. Kahn said Britain must compete for international investment and "The best way to guarantee this is by remaining part of the EU”. The disadvantages of Britain being alone has become clear, posing question such as could Britain negotiate a similar trade agreement, or would a move out of the EU ultimately lead to less favourable economic conditions for businesses in the UK than in other parts of Europe. The Confederation of British Industry has recently published that a UK exit from the EU would cause a "serious economic shock", which could potentially cost the country £100bn. If British economic success is effected, this could affect the appetite of potential investors which could in turn effect jobs. Such possible consequences now threaten British businesses and thus, UK membership of the EU is a significant opportunity.
Furthermore, UK membership of the EU is an opportunity for businesses as ultimately an exit from the EU would lead to businesses only being able to recruit from a smaller labour pool of just British workers, thus could create significant problems…...

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