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

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

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If action is not taken soon on climate change, global warming will get worse.

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