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?
Nowadays, local
entrepreneurs
are forcefully shutting down their shops as large Use synonyms
companies
have begun to possess a huge influence on their consumers.Eventually, Use synonyms
this
act may cause numerous problems in society. Linking Words
This
essay will discuss all possible problems and adequate solutions to tackle these issues properly.
The main problem caused by the invasion of multinational Linking Words
companies
is unemployment. Many common Use synonyms
people
find their living by running small Use synonyms
businesses
on the streets. Use synonyms
Moreover
, most of these markets get fewer profits compared to big business firms. Linking Words
Therefore
, they lack significant financial support in order to maintain good marketing strategies.Linking Words
Thus
,Linking Words
people
get attracted by branded Use synonyms
companies
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 Use synonyms
people
through more commercials.Use synonyms
Next
, the popularity of traditional products may deteriorate over time.Linking Words
Consequently
,Linking Words
this
would affect the culture and tradition of a country as well. To exemplify, in,India handloom clothes were famous in ancient times; Linking Words
however
, Linking Words
this
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 Linking Words
first
step is to edify Linking Words
people
about the importance of saving small Use synonyms
businesses
and their importance in a country's economy. Use synonyms
Secondly
, Linking Words
entrepreneurs
who run small shops should come up with adequate marketing strategies that can get Use synonyms
people
's attention. Even though doing advertisements in theatres or in television programs is quite expensive for small Use synonyms
businesses
, they can reach Use synonyms
people
directly through social media websites. To illustrate, there are some women Use synonyms
entrepreneurs
who use Facebook apps to develop their Use synonyms
businesses
.
To sum up,even though, the booming of large Use synonyms
companies
causes problems like unemployment and traditional drawbacks , taking necessary actions can help to mitigate these issues to a certain extent. Use synonyms
Therefore
,both Linking Words
entrepreneurs
, as well as government, should be united to make Use synonyms
this
possibleLinking Words
Submitted by deepumolvarghese5 on
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