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Local Business Role for South Africa’s Economy Essay (Critical Writing)


The main issue revealed in the article is the problem of the local business and its competitiveness with global enterprises. The fact is that in South Africa, there is a tendency for the business acquisition of global giants such as Walmart, Zara, and Burger King.

The problem is what advantages for the local economy can provide global corporations in comparison with the small enterprises. The major part of the researches is apt to think that the benefits of the small local-oriented business are obvious. They provide the local community with better job opportunities and better wages.

At the same time, it must be admitted that the benefits of the economies of scale are evident for the consumers. The points under discussion of the given article are different programs, aiming to support the local business and to offer them opportunities for growth.

As for me, I completely agree with the statements of this article, proposing different programs for the supporting of the local business. No matter how expensive these programs are, and what is the taxation from the giant enterprises, it is necessary to realize that without the domestic producers, the economy is doomed to failure.

My strong belief is that the economy of the state should be not only consumptive but also productive. It is considered by Sandrock (as cited in Burmeister, 2013), that micro and small business growth are essential for economic and job creation in the country.

Moreover, I think that if done right, the local business may be the basis for the development of the local economy, corresponding to its needs and taking into consideration the peculiarities of the definite region.

Mitchel, who is the senior researcher of the Institute for Local Self Reliance, says that (as cited in Burmeister, 2013,para.7), “Locally-owned businesses build strong communities by sustaining vibrant town centres, linking neighbours in a web of economic and social relationships and contributing to local causes.”

Reference List

Burmeister, B. (2013). Befriend the Trend: Support for local business could boost SAs economy. Web.

This Critical Writing on Local Business Role for South Africa’s Economy was written and submitted by user Elena Ramos to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.

Elena Ramos studied at the University of Miami, USA, with average GPA 3.22 out of 4.0.

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Reference

Ramos, E. (2020, March 24). Local Business Role for South Africa's Economy [Blog post]. Retrieved from https://ivypanda.com/essays/local-business-role-for-south-africas-economy/

Work Cited

Ramos, Elena. "Local Business Role for South Africa's Economy." IvyPanda, 24 Mar. 2020, ivypanda.com/essays/local-business-role-for-south-africas-economy/.

1. Elena Ramos. "Local Business Role for South Africa's Economy." IvyPanda (blog), March 24, 2020. https://ivypanda.com/essays/local-business-role-for-south-africas-economy/.


Bibliography


Ramos, Elena. "Local Business Role for South Africa's Economy." IvyPanda (blog), March 24, 2020. https://ivypanda.com/essays/local-business-role-for-south-africas-economy/.

References

Ramos, Elena. 2020. "Local Business Role for South Africa's Economy." IvyPanda (blog), March 24, 2020. https://ivypanda.com/essays/local-business-role-for-south-africas-economy/.

References

Ramos, E. (2020) 'Local Business Role for South Africa's Economy'. IvyPanda, 24 March.

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