Many small businesses are being forced to close because they are unable compete with multinational corporations? What problems does this cause and how can problems be solved?

It is somewhat believed, that a vast majority of small businesses have to close the operations due to the incapability to compete with multi-millionaire moguls.

However

, nowadays, the main core of the problem is the global pandemic. To tackle an issue, I would like to come up with a few statements in the following paragraphs. The viral outbreak, which has started in February 2020, has caused a myriad of inconvenient ramifications. A good example would be a plethora of companies, especially the smaller ones, who lost dozens of their loyal clients.

As a result

, a bulk of employee's salaries had to be cut down, as well as some of them were

consequently

fired. Working from home appeared to be the only reasonable solution to keep the firm alive. Regardless, apart from the Coronavirus case, global corporation has always had more advantages thanks to their ginormous salaries and beneficial health packages.

Also

, the matter of brand-awareness should not be omitted as it generally acquires more trust, comparing to some other rivals. In order to boost the issue off the ground, the smaller-sized companies need to research the market

first

. It might be better to start going through LinkedIn and realise, what would the most eye-catchy bit in the job description that may attract a "big player". The

second

example would be expanding the borders and promoting the company in social media. In fact, Facebook and Instagram advertising have 60% more chance of finding new talents. The

third

essential is about sharing responsibilities, because it is well-known, that the heads of small agencies tend to hire a multi-tasking individual. At

this

losing point, the moguls keep searching for someone, who specialises in a certain area. In conclusion, I strongly believe, that all kinds of businesses have the equal amount of potential.

Nonetheless

, one should note here, that each corporation, big or small, needs to come up with an original strategy to be successful. Plus, keeping up with the hottest online trends is mandatory.