The business represents an organised effort of an individual or strata of the population engaged in making a living. Due to the advancement of technology, the majority of micro sellers
subsequently
forced to shut down their enterprise. There are multifarious reasons why small enterprises winding up Linking Words
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 the liberalization of the economy and foreign investment. To gain a customer base multinational companies triggers a price war with local vendors but due to reduced profits micro-merchants are enforced to lock their businesses. Linking Words
For example
, Amazon gave big discounts on their website to expand their market reach which hampers the growth of small shops owners. Linking Words
Hence
, economic development has certain repercussion on micro industries. Linking Words
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 the rise in multinational brands ultimately boost the production and maximize the utilization of resources with minimum wastage Linking Words
thus
making a product more economical. Linking Words
For instance
, China has reduced the input cost by increasing productivity. Linking Words
Therefore
, shutting sole enterprise has certain benefits in a longer perspective. Linking Words
Furthermore
, micro industries are mostly unorganised so its reduction will uprise the organised sector and help governments to increase tax revenue which could be Linking Words
further
invested in economic and social causes.
To conclude, small and big businesses have their own pros and cons. Linking Words
However
, promoting the organised sector helps to raise the economic structure and individuals standard of living.Linking Words
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