Brexit and its impact on British-Czech economic relations. A contribution to the contemporary history of the island state in the European context

The diploma thesis analyses the impact of brexit on the relations between the Czech Republic and Great Britain, both from the point of view of the economy as a whole and from the perspective of companies and their actions regarding the preparation and minimization of the impact. Overall, the thesis has sought to provide a comprehensive and holistic view of the brexit issue, including the evolution of the exit throughout its tenure in European integration, through the referendum vote to the final exit from the European Union. Models of brexit are outlined, including alternative ones, their comparison and their final form. In the practical part, a macroeconomic analysis is carried out examining trends in GDP growth rates, inflation, trade balance and exchange rate in the Czech Republic in comparison with the UK and the European Union in order to establish the full implications of brexit and the Covid-19 pandemic. The period under study in terms of the analysis of macroeconomic variables starts from 2011 in order to include developments before and after brexit. Subsequently, the research focuses on Czech firms, their readiness, changes in business conditions and specific impacts. A SWOT analysis was conducted as part of this research, which provided the basis for possible recommendations and strategies for companies, using strengths such as stability, as well as the opportunities that the Czech Republic and international trade offer. The analysis concludes that the situation in the Czech Republic is stable due to the early preparation of firms and the many opportunities that firms can take advantage of to strengthen trade relations with the UK, which have remained strong despite less turnover.