Many small businesses are being forced to close because they cannot compete with multinational corporations. what problem does this cause, and how can those problems be solved?

Different types of firms have made their mark worldwide, which can include both small and large corporations. Nowadays, small professions are being suppressed by extensive market partnerships, with tiny enterprises stagnating or on the verge of collapse. The upcoming article discusses the reasons for the increase in

such

prevalence and the appropriate solutions.

Firstly

, the primary problem for the dictatorship of large trade over small enterprises is the lack of money that small vendors have.

In other words

, companies have to spend millions of rupees on any trade promotion and the strength to bear that cost is not in the small vendors;

therefore

, small enterprises do not get proper circulation.

Moreover

, small dealers cannot afford to spend on new proposals to grow their business and to adopt new unique selling propositions .

For example

, In 2016, a cold drink company called xalta set up its industry in India, which produced a very cheap and tasty drink that was well-liked by the people; despite that, foreign organisations like thumbs up made a sharp drop in the price of its bottle to curb the sale of the company's goods and to promote their product;

consequently

, the tiny company eventually disappeared one day.

However

, one immediate pragmatic solution to protect small businesses is to enforce small corporations' law favouring. The administration should adopt policies that foreign firms cannot suppress domestic traders. Alternatively stated, the government should provide financial assistance to vendors doing association in their province.

For instance

, residents should be encouraged to boycott foreign organisations that try to demolish the domestic industry and impose heavy taxes on foreign firms to run their endeavours in the country;

hence

, foreign sellers will refrain from conducting their business.

Finally

, even if people with small organisations sometimes close their businesses in front of large companies, they can be saved from ruin with the financial and fundamental support of the government and the general public

thus

, improve the economic situation of our country and,

as a result

, bring prosperity to the country.