Small businesses are disappearing and being replaced by large multinational companies. What are the advantages and disadvantages of this situation?

The advancement in technology and lifestyle has changed the world now. Large multinational companies are growing rapidly across the world.
This
has its own advantages and disadvantages and in
this
essay, I will try to shed light on all the possible pros and cons related to
this
situation. On the one hand,
this
rise in the growth of multinational companies has a lot of positive effects on society. As these kinds of firms could provide a job to hundreds of
people
which will ultimately result in low poverty rates and a good lifestyle.
Also
, these companies provide a good salary package with other facilities
such
as medical, bonuses, car and other luxuries of life that attracts more
people
.
For example
, in Pakistan
people
working in multinational firms
such
as Nestle, and Unilever not only have good salaries but
also
have other facilities including work-life balance, medical insurance, and a stable life.
Moreover
,
this
also
helps in improving the socio-economic status of a country.
On the other hand
,
this
rise in large businesses has badly affected the
people
working on a small scale.
People
having skills and who want to start up their own businesses couldn't find a proper market to sell their products.
For instance
, in Pakistan, inflation and high economic downfall have badly affected these kinds of businesses that were
also
a source of jobs for a few
people
resulting in an increase in unemployment percentage and poverty.
To conclude
, I completely agree that large industries have several advantages from providing jobs to building a positive image of a country around the globe but they
also
badly affected the industries working on a smaller scale.
Submitted by tayyabkhalid99 on

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