Large businesses have big budgets for marketing and promotion and as a result, people gravitate towards buying their products. What problems does this cause? What could be done to encourage people to buy local products?

Big businesses or international assets have dominance over local goods. International products have huge revenue from advertisements and marketing which enables the majority of people to get attracted by their products and buy them.
However
, these practices lead to many hardships for small trade including economic challenges and loss of cultural identity. International assets have many strategies and policies to make their product most appealing to the customers,
on the other hand
, small entities are unable to do
this
as they do not have a huge budget for promotions,
due to
which people are not interested in purchasing products from small work or local brands.
As a result
, small businesses n entrepreneurs are diminishing resulting in low employment rates, low economic growth and loss of heritage. In order to solve the issue government should take steps to inspect large trade and international vendors for deceptive advertising, and custom imports,
On the other hand
, provide tax incentives, and loans to small and local traders.
This
helps them to enhance their marketing and compete with large businesses and
also
encourages them to promote their work through exhibitions, and workshops where they can showcase their product and explains the importance of cultural identity or collaborations with other brands. In conclusion, the dominance of large fields can have many negative impacts on the economic growth of the country and can destroy many small workers, a firm solution has to be implemented in order to grow local variety, employment and to safe cultural identity by providing them with sufficient funds and encouraging collaborations meanwhile motivating people to buy from local quality in order to heritage and craftsmanship.
Submitted by syedilyas2023s on

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Topic Vocabulary:
  • over-reliance
  • disrupts
  • entrepreneurship
  • economic diversity
  • monopolistic
  • financial power
  • homogenization
  • awareness campaigns
  • tax incentives
  • sustainability
  • artisan
  • eco-friendly
  • dominate
  • innovation
  • stifle
  • richness
  • cultures
  • traditions
  • highlighting
  • distinguish
  • superior
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