EU includes 27 countries and Brexit may have adverse
consequences for all members associated with it. It will affect
most intensely to 19 nations Eurozone. Following would be impacts
on businesses across the countries:
- Now business firms doing business would have to face new sets
of rules in UK. Thus, these firms would be required to comply with
new norms and regulations.
- New sets of tariffs and quotas would be created. Thus, products
of EU would automatically become less competitive. Hence, many
firms are likely to lose market share to competitors from
elsewhere.
- Likewise, UK business houses would face new tariffs and quotas
while entering EU. UK is also likely to lose the advantages of
cheap labor.
- Rise in unemployment may be seen in the EU member
countries.
- Brexit would not affect all countries equally.
Countries with large number of migrants to UK and more trade
relations with UK would face the negatives of Brexit in most severe
way.