Know How Political, Legal And Social Factors Impact A Business

1472 words - 6 pages

Political:
Political factors can have huge implications on a business. This can depend on how stable or instable the degree of policy and government is within the country. For example, a change in government can lead to instability as this would cause uncertainties within the government. The current coalition government would be considered stable in its current position. However some of the policies that the current government are trying to push through, e.g. leaving the EU, would cause big instabilities and could have negative effects on businesses including cross street news and glow warm. This is because if we left the EU it would become more difficult for us to trade as many countries ...view middle of the document...

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As you can see this grant is aimed at young people who are currently part time or unemployed. The main aim of this grant is to encourage young people to start business and to get the unemployed back into work through the start-up of their own business. This specific grant wouldn’t be available to with cross street news or glow warm as they are already a developed and recognised business. Along with grants, a stable government is also more likely to be in a position to issue initiatives to help a business grow and to encourage them to move forward. An example of such an initiative would be research and development tax relief.

http://www.fpb.org/hottips/853/Get_help_from_government_growth_initiatives.htm
Having initiatives for a business such as this can encourage them to undertake research and other projects that they wouldn’t usually consider but which would be beneficial to a lot of people. This initiative would apply more to glow warm then it would to cross street news. This is because the sector that glow warm work in has technology that changes and gets updated all of the time. Due to this there is a lot of room for research and future developments. Glow warm could research into different forms of renewable energy and develop ways of making this research into reality. By doing this the government would reward them and their research would go along way too helping others.
Being members of international organisations may also have an impact on a business. Examples of organisations that the United Kingdom belong to include the international monetary fund and the EU.

http://www.imf.org/external/about/overview.htm
As you can see from the IMFs own definition of what they do, they are responsible for helping countries that find themselves in economic trouble through both advice and through money. Thy also talk about aiming to foster global growth and to achieve economic stability. If this happened then this would be beneficial to all business including cross street news and glow warm. A stable worldwide economy would mean that people would have disposable income and would be more willing to spend it on non-essential services such as solar panels that glow warm offers. Global economic stability would also make it easier and cheap for businesses to import and export goods. This again would have a positive impact of on all businesses. The UK is also a member of the EU.

http://europa.eu/about-eu/index_en.htm
The European Union is a set of 28 different European countries that come together to form 1 group. The EU looks after a lot of things within Europe and within the counties that are in it. These include economic and political union to human rights and equality. Due to this the EU can effect what goes on within Europe very easily. They can make it very difficult for countries to trade with each other if they wish and they also have the power to make and enforce new sanctions throughout Europe. An example of when the EU has imposed...

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