In recent years, international firms are so popular among buyers. While it is often argued that they are advantageous for economic boost, others claim that they cripple local businesses. This essay will discuss both sides and explain why I believe they bring several advantages for the economy.
On the one hand, I agree with the proponents and believe that they gain more profit and money and lead to rapid economic growth. Because nowadays, people prefer to purchase well-known and international products instead of items from local firms. That is why, international companies have brand loyalty and sell more items. So, not only companies but also governments make much money and take advantage of it. In addition, people trust them because they prove their products’ high quality. For example, when one international company is famous for its items, people tend to buy from that company instead of ones which are not popular in order to not waste their money.
On the other hand, the opponents believe that investing money in international firms harms local businesses which try to burgeon and stay afloat.
Because no one can deny that due to globalization firms are connected and try to dominate the market in order to success in many counties. As the result, most of the local businesses’ profits are fleeting and confront many financial difficulties. Additionally, if they have a chance for developing and improving, in the long term, they will boost the counties economy and introduce their names to the world.
In conclusion, although local businesses come with many benefits, I strongly believe that governments must focus on international firms because they do not need any time for growing and proving themselves.