In many countries, small shops are closing. Give your reasons about this. Is it positive or negative? Give examples from your knowledge and experience and present your opinion.

Nowadays, the competition in the markets has increased to sustain the livings. It has been observed that micro-sellers are enforced to close their businesses. There are several reasons for the shutdown of these stores which will be discussed in

this

essay along with the justification of why it is disadvantageous for the development of the country. The major cause for the extinction of small shops is that they are unable to compete with large malls.

Firstly

, due to hectic lifestyles, people prefer to visit supermarkets as they provide access to a wide variety of products under the same roof.

For example

, a superstore is more helpful for the weekly groceries where one can buy almost every item for daily use from food to clothing.

Secondly

, micro-merchants sell the same products at higher prices whereas these shopping centres offer flexible price ranges and huge discounts that encourage people to make their purchases. To illustrate, cosmetics in Walmart is five times cheaper from private skincare company. These factors will reduce the profit of smaller corporations, possibly leading to bankruptcy. There are various negative consequences of closing down these mini-stores.

First

and foremost, it leads to the loss of the economy.

Although

the contribution from small trading occupations is minor, they still affect the overall income of the country. Evidently, the Richmond marketing sales went down by five per cent from

last

year because of the decline in the number of local entrepreneurs.

Furthermore

, it reduces employment opportunities. It is irrefutable that the more the workplaces disappear, the lesser the jobs available.

For instance

, if a small bakery had still opened on Kingsway Street in Vancouver, it could have recruited at least two chefs. In conclusion, the Convenience and affordability of macro-stores are the contributing aspects that persuade the closure of small shops which eventually hinders the financial growth of the country.