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

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Nowadays, local
entrepreneurs
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are forcefully shutting down their shops as large
companies
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have begun to possess a huge influence on their consumers.Eventually,
this
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act may cause numerous problems in society.
This
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essay will discuss all possible problems and adequate solutions to tackle these issues properly. The main problem caused by the invasion of multinational
companies
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is unemployment. Many common
people
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find their living by running small
businesses
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on the streets.
Moreover
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, most of these markets get fewer profits compared to big business firms.
Therefore
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, they lack significant financial support in order to maintain good marketing strategies.
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,
people
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get attracted by branded
companies
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and supermarkets as they provide attractive offers and complements.Eventually, lots of middle-class individuals abandon their shops as they get fewer customers and become unemployed.To illustrate, a traditional soap company named 'Radhas' stopped working as international products like 'Lux' and 'pears' gained popularity among
people
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through more commercials.
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, the popularity of traditional products may deteriorate over time.
Consequently
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,
this
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would affect the culture and tradition of a country as well. To exemplify, in,India handloom clothes were famous in ancient times;
however
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,
this
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trend has diminished after the introduction of western clothes. It is crucial to take the necessary steps to tackle challenges caused by multinational cooperation.The
first
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step is to edify
people
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about the importance of saving small
businesses
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and their importance in a country's economy.
Secondly
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,
entrepreneurs
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who run small shops should come up with adequate marketing strategies that can get
people
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's attention. Even though doing advertisements in theatres or in television programs is quite expensive for small
businesses
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, they can reach
people
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directly through social media websites. To illustrate, there are some women
entrepreneurs
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who use Facebook apps to develop their
businesses
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. To sum up,even though, the booming of large
companies
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causes problems like unemployment and traditional drawbacks , taking necessary actions can help to mitigate these issues to a certain extent.
Therefore
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,both
entrepreneurs
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, as well as government, should be united to make
this
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possible
Submitted by deepumolvarghese5 on

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