Examine the impact of EU membership on UK Businesses.

One of the main impacts of EU membership on UK businesses is the Single European Market. The European market allows UK firms to take advantage of lower costs of doing business, and this is due to a number of reasons. The European Market has harmonised product standards and the free movement of goods and workers which creates opportunities in industries that were previously heavily regulated. UK Businesses operating in the single market also have the opportunity to access over 500 million consumers, allowing firms to market their product on a much wider scale and potentially increase their sales massively. However, Firms operating outside the EU will be faced with more competition from EU companies who have reduced their cost structures and can operate globally.
Another impact of EU membership on UK businesses is the social implications. Under EU legislation, workers rights are heavily protected and this may lead to an increase in motivation and productivity. Increased worker participation could enhance decision making in firms and therefore lead to fewer industrial relations issues. However, this could impose additional costs on these UK firms as high labor costs through minimum wage, paid holidays etc. increase costs and UK businesses could struggle to compete with companies who do not face these requirements.