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.

In today’s modern world, it can be said that multinational

corporations

hold the most power.

This

presents an issue for various spheres in our society, from an economic standpoint to the political realm.

However

, the most pressing challenges that

corporations

pose can be seen in the rapid decline of small

businesses

, as they are being forced out of the competition. We will discuss possible problems arising from

this

and how they could be solved. Possibly the major problem that

corporations

cause is the creation of monopolies in the market. If a corporation is powerful enough, they drive out and buy out all their competitors until there is no one left, and they dominate the market.

This

creates a monopolistic hierarchy because companies or

corporations

have total control of a market, and they dominate their sector or industry.

For example

, the multinational grocery retailer Tesco dominates the grocery sector, forces others out of the industry and makes it impossible for other

businesses

to compete with them.

Thus

, large

corporations

make it even harder for small

businesses

to survive or establish themselves because the power imbalance is even greater.

As a result

, when small

businesses

are forced to close, many people lose their main sources of income and must find new ways to support themselves.

On the other hand

, there are different approaches, which could include government support and tax breaks for small

businesses

and introducing substantial corporation taxes and policies that make it harder for

corporations

to monopolise and drive away small

businesses

. In conclusion, it appears that in order to save small

businesses

, governments would have to provide some kind of protection for small business owners and introduce bigger mandatory taxes for

corporations

that would restrict their power.