In today's world a lot of local businesses have to close due to great competition with a global corporations. This essay will examine the most significant problems resulting from this trend and propose an effective solutions for maintaining small businesses.
The decline of small businesses causes several major issues. First of all, local businesses provide workplaces for the local employees. Therefore, if family bakeries, cute cafes or bookshops have to close, the people who work there lose their jobs. Furthermore, dominating of monopolies lead to similarity between a streets. More than half shops in the cities are giant businesess, for example "Walmart" or "Starbucks" in the USA, these similarities may provide bad impact on a quality of live.
To adress these challenges, both the state and business need to implement certain changes. Firstly, the government should lower the requirements or provide financial support. For example, governments could decrease fees and taxes for local businesses or grant some kind of benefit, privilege or allowance. These actions might lead to considerable changes in business budget such as decline in expenses and an increase in profits. In addition, small businisess should set a goal to make unique items or some limited products which may lure a customers and make them condider about purchase, it is the most popular way to increase the number of customers.
In conclusion, the closure of small businesses puts at risk the number of workplaces and the variety of markets. However government financial support and shifting to niche products will help them successfully stay afloat.
