Small companies are vanishing and their places are being taken by large international corporations. I believe that the drawbacks outweigh the benefits that this trend comes with since while the predominance of international corporations helps build local facilities, it allows these large companies to take advantage of the customers.
On the one hand, international businesses pour a large amount of money into upgrading local facilities. The reason is to build up their reputation and gain the trust of the local government, which is necessary later on when they want to expand their market. For example, a multinational food chain can get a parking lot constructed right next to their building, this not only increases the chance of people visiting the store for free parking, it also augments the city’s facilities that the government has been working on. Another benefit that megacorporations bring about is the increased rate of employment. An international company requires far more employees compared to a small one since it prioritizes taking the local market over making profits, which is enabled by the enormous budget built up from branches in many countries.
On the other hand, being predominant means these megacorporations can do anything they want with their customers since there is no one else providing the same type of products or services. They will stop offering sales or upgrading their services due to the lack of competitors. They can now also increase the price of their services without worrying about a cascade in their revenue because people have no other choice but to use theirs.
In conclusion, even though international corporations might offer various benefits to local people in order to take control of the market, once they have stabilized their positions, people are helpless against these companies, which outweighs all forms of benefit these companies can bring about.