In today’s world, some countries encourage other foreign companies to open a branch office in their country to establish a good relation between them. While, many people are turning the point that the government should focus only on local businesses to expand instead of inviting foreign businesses. I think, the second view is most appropriate for this title.
There are several advantages of encouraging local businesses assisted by government. Firstly, it helps to improve the country’s overall financial problems. The hindrances relating to unemployment might be solved. Vitalizing domestic businesses can help to overcome the problem of being jobless. Furthermore, individuals will be more active to participate in local programs that is related to nation’s welfare. More active are the individuals, the more productivity of life they will enjoy.
Besides this, local businesses also help in preservation of country’s tradition and culture. Talking about establishment of foreign companies branches, they may help in some situation. However, they deteriorate our local culture which is not quite beneficial for us. Emphasizing domestic businesses can expand them worldwide, where there is no need for support of foreign companies. We should make the habit of independency, not rely upon others. In addition, China has encouraged its local citizens to support their own cultural diversity. Later on, it made a beneficial impact and helped to attract more foreigners in China.
To terminate, giving more importance to local businesses might have a really impactful influence on a nation’s economy and prosperity. Subsequently, it also helps to make a tightful bond between the local government and its people.