tutor2u GCSE Business Studies Business and Europe The UK is part of the Single European Market, the European Union (EU). This means that it can trade one of fourteen other countries in that market without facing any barriers to trade. It also means there is no restriction in the employment of anyone in the EU or the ability to set a business in the EU. The benefits of EU membership to businesses are: f Increase in market size (a greater number of potential customers) as a result of the freedom of movement of goods and services. UK business can now sell to any of the other fourteen countries without facing extra costs or restrictions on the types of products they can sell. f Greater access to cheap factors of production e.g. raw materials, technology and labour. A business can employ individuals from any part of Europe. Football clubs have certainly benefited from this! The National Health Service has found this a good source of skilled doctors and nurses when they have had shortages of medical staff. f
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