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,
because they were unable to survive the competition from the MNCs. Small Remove the comma
apply
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
shut down, the consumer is offered Correct your spelling
manufacturers
with
limited choices that are only from the big companies and, Change preposition
apply
as a result
, they will be forced to buy products
at the price fixed by these mult
-national manufacturers. Correct your spelling
multi
In other words
, the big company becomes a monopoly in the market. Government
is Correct article usage
The government
also
affected since the products
which where
earlier made in the Replace the word
were
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
exposure Correct article usage
apply
towards
international industries. Change preposition
to
Firstly
, government
must regulate the Add an article
the government
amount
of Change the quantifier
number
products
that the big companies can import, namely, through import duties and additional taxes. Secondly
, subsidies can be provided to native manufacturers, for
example
the subsidies to ‘MSMEs’ provided by the Indian Add the comma(s)
,example
government
to support businesses
in the post pandemic
world. Add a hyphen
post-pandemic
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
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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...