Urbanization and industrialization in urban areas are leading to many changes in the economy, which include the expansion of some businesses and the bankruptcy of others due to a failure of competitive pressures. This trend can have some negative consequences for the local community, and this essay discusses possible solutions to improve the situation.
Understandably, the loss of small-scale businesses in favor of huge companies can bring a number of inconveniences to the community. First and foremost, the loss of small businesses can cause a weakening of social interaction. These businesses, especially recreational facilities, play an important role in the interaction of the people in one neighborhood, resulting in tighter bonds between them. Only one small cafe or a shop, for example, can be essential for individuals to get informed about their neighbors and news about the community, and, in turn, people can stay aware of what is going on around them. In addition, small businesses such as shops, bakeries, and cafes are normally situated inside the neighborhoods, which saves commute time and may cause less traffic congestion in comparison with their larger counterparts. Thus, these local facilities’ absence can cause some difficulties for the public.
Nevertheless, the issue of small business bankruptcy can be addressed with two measures, one of which is government subsidies and incentives. Should the local authorities support these small shops and cafes with financial rewards and help them form their funding through low-interest loans, their maintenance and success will be ensured. Furthermore, small shops can attract more customers by adding uniqueness to their products, which may give them an edge when competing with giant competitors. For example, local shops can offer handmade crafts and unique souvenirs, while bakers can start baking the bread and cakes in different shapes, and with this creative approach, they can beat huge businesses that are afraid of making radical changes..
To conclude, the absence of many local businesses can bring some issues to the locals, such as a loss of community sense and traffic jams. However, I’m of the opinion that this problem can be solved with the help of authority and the creativity of these businesses