European Business Practice Essay Example | Topics and Well Written Essays - 750 words - 1

European Business Practice - Essay Example These include free movement of goods, free movement of people, free movement of services and free movement/transfer of capita (McCormick, 2011). Some of the benefits are as discussed below. Businesses have greatly benefited from the single market. The EU being a free trade area, single market allows the businesses to operate and conduct their business activities in an unhindered manner. Companies have the freedom to invest in any of the member countries as international trade has been fostered. Goods can be accessed at cheaper prices, and the transportation has become easier due to improved infrastructure (Euromove, 2011). The policies for conducting business between the EU member countries have been made more favourable and hence, companies have increased the rate at which they carry out activities and operations. Countries have also benefited greatly from the European Union. This union has boosted and promoted the development of infrastructure, telecommunications and development of trade centers (Weresa, 2010). One example of a country that has benefited from such is Scotland, which is a member country. In the country, roads have been developed, security has been boosted due to the combined armed forces and the level of living standards has been raised as the EU, through structural funds, has given and funded a big percentage of people who are below the poverty line (McCormick, 2011). Another benefit can be seen in terms of economic growth and creation of employment opportunities. Research conducted shows that between 1992 and 2006, the Single market program fostered development as the European Union GDP rose by 2.2 % to 233 billion euros. This, in return, led to the creation of 2.75 million jobs spread across the member countries (Daneshku, 2014; European Union, 2013). Personal benefits can also be realised from being EU members. One has the unlimited