Many small, local shops are closing as they are unable to compete with large supermarkets in the area. How does this effect local communities? How could this situation be improved?

The retail

business

has become very competitive and small retailers are finding it very difficult to survive in

presence

Suggestion

the presence

of large supermarkets.

This

main

impacts

Suggestion

impact

of

this

on the local

communities including

Accept comma addition

communities, including

job losses and monopolised market.

This

can be

changes

Suggestion

changed

by applying some changes, including a partnership based

business

model and improved government regulation.

To begin

with, closure of local retail shops will result in a severe job crisis as they are the primary source of income for a lot of local communities.

In addition

,

presence

Suggestion

the presence

of only large supermarkets in retail

business

will result in higher inflation.

For example

, a recent study conducted tells that if the current situation continues, the unemployment and inflation rates will be at their peak since

last

decade.

This

will not only impact lives of local

communities but

Accept comma addition

communities, but

also

have a widespread impact on the economy. Small size retail shops should think of some partnership based model that can help them increase their profession size and scope to be able to compete with large retailers.

Furthermore

, government should create an atmosphere where retailers can approach investment firms to raise capital in order to grow their

business

.

For instance

, there are various investment summits conducted by governments where various companies and investment firms come together.

Government

Suggestion

The government

should make

such

platforms available for local retail

business

as well.

This

will not only help small retailers

survive but

Accept comma addition

survive, but

in fact will give them

opportunity

Suggestion

the opportunity

an opportunity

to grow, create more jobs and provide a larger contribution towards the growth of the economy. In conclusion, in today’s competitive

business

environment small

Suggestion

environment, small

local shops are finding it very difficult to sustain and compete with large brands.

This

essay discussed how closure of local retail shops will result in job loss and increase inflation.

This

essay

also

suggested solutions to

this

problem are two fold: local retailers should come together and have partnerships and the platforms government should provide that will enable local retailers to not just survive but

also

grow.