Upcoming political events like the General Election could have an impact upon my business. The reason being is each party have different policies and manifestos that can alter the economy, social and legal issues in both positive and negatives ways. An example would be ‘Labour will reintroduce maintenance grants for university students, and we will abolish university tuition fees’ (http://www.labour.org.uk/index.php/manifesto2017/towards-a-national-education-service, 2017, accessed 7/6/17). The reason this would affect my business is because some of my customers are at university and if they don’t have to pay for university tuition fees and have access to a maintenance grant then they aren’t going to have the worry of paying off tuition fees meaning that they may have more disposable income than they usually would. Therefore more money to be spending on social events like festivals which is where my pop up shop would be, the more customer the more footfall I will have and more revenue I am likely to make.
The recent referendum of Brexit and the majority voting to leave means that Britain will be coming out the EU. What this means is that Britain will no longer be a part of that group and don’t have the support from Europe when it comes to money and laws. Once we have left the EU it could mean that people and businesses from the U.K find it more difficult to move around Europe, it will mean there won’t as much freedom of movement. This could affect my business as it could take longer for the process of moving my pop up shops to abroad festivals and I would have to abide by different laws and more expensive. This could slow me down and therefore it could risk my business not being able to get onto location on time or for as long I want to for example, therefore miss out on potential sales and customers. In addition I may not have enough money from starting up to be able to afford to have my pop up shops in as many festivals as anticipated again reducing my audience and profit.
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