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?

In recent years, investment of transnational companies in our country,
such
as outfits, accessories, foods and so on, have led to the close of small or local businesses. In the following paragraphs, both causes and solutions will be outlined before a conclusion is reached. As far as I am concerned, many worldwide companies now are willing to set up their businesses in Thailand as the wage is not too high compared to other countries which have nearly the same technology as Thailand. Glocalisation has played a pivotal part for a majority of people in the country. In simple terms, they are now less interested in their cultures and customs and trying to seek something new.
For instance
, the newly opened French restaurant serving the same meat which they can find in the authentic Thai restaurant has gained more customers' attention as it only has the different methods of plating and cooking that lead to a fascinating taste. To tackle
this
problem, there are several things that authorities who are related to the problems can do.
Firstly
, they shall raise a campaign to get the attention of people in that country and allocate supportive money to the local owners,
for example
, sales or one-free-one once a week, which means not only the owners can benefit from
this
campaign, but customers
also
get their foods with a cheaper price.
Secondly
, they can hire some people who already have working abroad experience and
then
let them teach the small business,
such
as how to decorate Thai food with a modern style or how to make it into twisted cuisine. In conclusion, as the influx of multinational corporations continuously increases and the vast population tend to find what they are not familiar with, authorities should cooperate to solve
this
problem in the long term by launching campaigns or supporting local businesses.
Submitted by nnatthinee on

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Topic Vocabulary:
  • community character
  • multinational corporations
  • economic decline
  • monopoly
  • tax incentives
  • grants
  • buy local campaigns
  • niche products
  • personalized services
  • economic ecosystem
  • business partnerships
  • competitive advantage
  • consumer choice
  • market diversity
  • entrepreneurial spirit
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