Many small business are being forced to close because they are unable compete with multinational corporation? what problems does this cause and how can problems be solved?

Globalization has affected many small
businesses
native to the
country
. Opening up of economies to multi-national companies (MNCs) forced many medium and small
businesses
to shut down their operations
,
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because they were unable to survive the competition from the MNCs. Small
businesses
are
also
essential contributors to a nation’s economy,
therefore
, supporting them is important. When small
businesses
of a
country
are closed down, it will affect the
government
as well as the citizens.
For example
, when small-scale
manufacutrers
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manufacturers

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shut down, the consumer is offered
with
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limited choices that are only from the big companies and,
as a result
, they will be forced to buy
products
at the price fixed by these
mult
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multi

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-national manufacturers.
In other words
, the big company becomes a monopoly in the market.
Government
Correct article usage
The government

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is
also
affected since the
products
which
where
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were

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earlier made in the
country
, had to be now imported, in turn reducing the Gross Domestic Product (GDP) of the
country
.
Therefore
, it is important to regulate the influence that the international players have in our commercial markets. There are various initiatives that can be implemented to protect micro-industries from
the
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apply

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exposure
towards
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to

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international industries.
Firstly
,
government
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the government

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must regulate the
amount
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number

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of
products
that the big companies can import, namely, through import duties and additional taxes.
Secondly
, subsidies can be provided to native manufacturers,
for
example
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,example

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the subsidies to ‘MSMEs’ provided by the Indian
government
to support
businesses
in the
post pandemic
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post-pandemic

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world.
Third
, will be to enlighten consumers about the importance of buying native
products
, through campaigns like “Vocal for local” and “Make in India”. These steps would support micro-industries to compete against international players. In summary, local manufacturers are being forced to shut down due to the stiff competition from the multi-national
products
which started penetrating the market with the advent of globalization. The closure of local industries will impact a nation’s economy, so, there are various initiatives, that should be implemented to find a solution to
this
crisis.
Submitted by nigilmasedon3 on

Answer the 'Problem and Solution' topic

Problem-and-solution essays fall naturally into two parts, the first describing and exploring the problem, the second setting out the solution or solutions.

You essay structure should look something like this:

  • Introduction
  • Body paragraph 1 – Problems
  • Body paragraph 2 – Solutions
  • Conclusion

Examples to start your body paragraph:

  • One of the first problems of the...
  • Another problem that needs to be considered...
  • A possible solution to this problem would be...
  • One immediate practical solution is to...

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