Nowadays, it is very challenging for small entrepreneurs to thrive in the midst of large supermarkets and online stores and this is having a negative impact on the community. The main problems of this trend and how it can be addressed will be discussed in this essay.
Regarding problems, one of the biggest challenges the community faces when small business owners are not allowed to grow is that it prevents economic growth and development. Though these shops are small in size, they contribute significantly to the earnings of the community because they are large in number. In addition to their numbers, these businesses are also potential big businesses just like Coca-Cola that started with just one black kettle. Another major problem the community will be plagued with is that of an increase in unemployment. Because small upcoming businesses are not allowed to grow, they are forced to close down their shops and look for white-collar jobs. As a result of this, more people will have no choice but to join the already saturated labour market to look for jobs further putting a strain on the community.
Coming to solutions, the government has a very important role to play to give these small businesses a chance to survive. One of the ways the government can help is through loans. When loans are freely accessible to small shop owners, they are encouraged to put up a good fighting spirit against their bigger rivals. In addition to loans, the government can also subsidise the goods and services produced by these shops. With this subsidy in place, they will enjoy a very high patronage which will result in their survival.
In conclusion, the community is affected negatively in terms of a lack of economic growth and an increase in unemployment. However, the government can easily solve these problems through financial aid and subsidies.
