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IN MANY COUNTRIES, SMALL SHOPS ARE CLOSING. WHY IS THIS HAPPENING? IS IT A POSITIVE OR NEGATIVE DEVELOPMENT.

#countries #shops #development
The business represents an organised effort of an individual or strata of
population
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the population
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 engaged in making a living. Due to
advancement
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the advancement
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 of technology,
majority
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the majority
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 of micro sellers
subsiquently
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subsequently
 forced to
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shut down
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shutdown
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shut down
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 their enterprise. There are multifarious reasons why small enterprises winding up
such
 as competitive price and constraint in stocking the variety of products. I propound that it is an advantageous process for the development of a country. One of the foremost causes of diminishing the sole traders is
liberalization
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the liberalization
a liberalization
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 of
economy
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the economy
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 and foreign investment. To gain
customer
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a customer
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 base multinational companies triggers a price war with local vendors but due to reduced profits
micro merchants
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micro-merchants
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 are enforced to lock their businesses.
For
example
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,example
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 Amazon gave big discounts on their website to expand their market reach which hampers the growth of small shops owners.
Hence
, economic development has certain repercussion on micro industries.
Moreover
, due to hectic lifestyle people prefer to visit a store where they can find different items under one roof. As sole traders are diminishing due to
rise
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the rise
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 in multinational brands ultimately boost the production and maximize the utilization of
resourses
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resources
 with minimum wastage
thus
 making
product
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the product
a product
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 more economical.
For instance
, China has reduced the input cost by increasing productivity.
Therefore
, shutting sole enterprise has certain benefits in
longer
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the longer
a longer
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 perspective.
Furthermore
, micro industries are mostly unorganised
hence
 its reduction will uprise the organise sector and help governments to increase tax revenue which could be
further
 invested in economic and social causes. To conclude, small and big businesses have
its
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their
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 own pros and cons.
However
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,However
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 by promoting the
organise
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organised
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 sector helps to raise the economic structure and individuals standard of living.
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