Small Businesses Are Not Always Small in "IMPACT"

[hedgeh0g]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".
However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

I believe that governments do nothing for small businesses unless that small business is located in a town that earns tourism. Because tourists love the distinctive little shops and craft of the locals. But in terms of globalization, small businesses always suffer greatly from the fact that huge supermarkets and online markets appear. Because of this, small businesses either close down or adapt. Well, the state doesn't care about this absorption by the strong and the big of the small and the weak.

[Leahized]

Small businesses are crucial economic player and labor absorbers, which contribute to the independence of the countries. Nonetheless, complex administrative red tapes, as well as cumbersome tax regimes tend to shred up capital before companies have the opportunity to grow.

If any small business wants to survive sustainably. The first step is to obtain approval from the government. Because if ever involved in any illegal activities that violate the law. Then those small businesses will have to face various complications. It is certain that, small businesses have a special impact on the country's economy and job creation.

For example: considering the services of a restaurant. If ever involved in such acts that harm the health of general customers. Then it will definitely have to face the consequences, and even all of its capital may be destroyed. On the other hand, the government helps those companies or small businesses. They are engaged in running honest and dedicated institutions.

[Donk1]

​I believe the government could possibly help small businesses in their own ways, like making an area developed so that shops can easily spread wide, or by reducing the price of commodity. Basically the government has the power to change things for the better, but they don't which often makes us ask questions like, What is the government even doing if their decisions aren't impacting the people?...​It's easy to say for me small businesses wouldn't be able to help the fact that the possibility of them growing is very low due to inflation and poor governance. As a matter of fact even if there is a change in government, nobody knows if the economy will get better or not. Perhaps instead of waiting for the government the community can easily impact one another, creating an independent growth within the locality. That's all......

[Proty]

I believe it won't be a bad idea if government should assist small business owners, because they also contribute to the economy of a country by providing jobs and also an avenue to circulate local currency. There are different ways government can be able to assist small business owners aside giving them loan , they can also provide them with some basic amenities that will help them in smooth running of there business. Amenities such as good road , electricity etc should be available to small business owners.
For a business to succeed or be successful the business owner also needs to play there role in ensuring that there business is successful because even with government support the business can still fail if the owner fails to play there own roles

[Texac]

I believe that governments do nothing for small businesses unless that small business is located in a town that earns tourism. Because tourists love the distinctive little shops and craft of the locals. But in terms of globalization, small businesses always suffer greatly from the fact that huge supermarkets and online markets appear. Because of this, small businesses either close down or adapt. Well, the state doesn't care about this absorption by the strong and the big of the small and the weak.

That's just business competition and government can't step in and control all of it.  Competition and failure are an inevitable part of the market.  What the government can do is provide tax break, loan or support program for startup.

Small businesses are important to the economy, but government support should not become a lifeline for keeping an inefficient business model alive. If these businesses want more support, they first need to show that they can actually survive and grow in the market.

[boyptc]

Based on what everyone has said, it seems that the majority of the countries that every member here is in doesn't give that help that small businesses deserve.

They don't look at the sector of small businesses to give them help when they need it the most.

These small businesses are the median that helps drive the economy. Corrupt government won't recognize that.

The government have always been very selfish elsewhere they ought to have considered this set of people because they contribute to the economy as well.

I know it seems these things are almost in every country but I believe there are countries where the government is doing better

There are countries where loan are made easily accessible for businesses and given longer time for repayment, so of the government of a country like mine can adopt these principles, then the country would be much more easier.

I've seen countries that have an efficient government, they put first the welfare of its citizens and the taxes goes straightly to the services of the people and not to the pockets of the corrupt officials.

There's an honor that's a pride of these public servants and that's why they have a shame if ever they are involved into a scheme of corruption.

Access to loans for the small businesses is one of the feats that they can do but, it doesn't have to end only with that service but even more like support system.

[Nightwatchmare]

Small business has create a lot of impact both in the street and order areas for example, there will be a time where you will not be having money to get what to eat, but with the help of the small business on  the street you can buy things on credit to pay back later. Also, it helps you purchase things close by etc. so, you can see the impact this little businesses brings to people on the street.
So, in my own opinion I think the government should support and be of help to them financially, in which it can help them expend to a greater heights.

[Crypto_Timothy]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".

This raises an important question: Should governments do more to support small businesses?

Funny enough when we want to discuss about the economy of a country, we usually start with the big sharks and how much they generating and while that is good, just like you said, there has to e this backbone of the economy that functions regardless of external funding or sponsorship. If the government aims at increasing the economic value of the nation, then paying attention to the small businesses is an excellent place to start, because when the government pays attention and invest in the local economy, naturally the people in the environment just thrive and so those the nation's economy

[Churchillvv]

In Economics, they are called informal sectors of the economy. They are not just formal but are large sector of the economy, they create and cover the loop holes which the government and the formal institutions create, when one can’t find a formal job they tend to rely on inform sector jobs to feed and survive hence that is why in china, the nation has figured out how much influence the informal sector have in the survive and growth of the economy hence the government decided to empower the informal sector from the taxes and reserves, which has lead to the great china you see today so most government have no interest in the informal sector and until the recognition is given I think some state may not come out of there current economic situation.

[Joeboy]

Should governments do more to support small businesses?

Of course they should... Coz majority of small scale business don't have that same financial strength as those large cooperations/companies and this is why it is usually very difficult for a small business to survive after a long series of bad sales.. So yeah they truly need support from the government.. Loans comes with interest which may or may it be favourable for the business and so instead of loan, it best that government issue this businesses grant so as to help make a difference and even help increase the businesses inventory.. Big businesses has large cash reserves stash away somewhere and this make access to cash more accessible especially during the time of need... But that isn't isn't the case with this small businesses.. At time this small scall business owners has ideas but lack the finances to bring this ideas to life and that is why government financial support is very important...

Also government should look into the taxes that this small businesses are subjected to.. Some of this businesses are taxed outrageous--amounts that sometimes even force businesses to close.. And this could very well promote more unemployment in the country..On that the government should be very considerate about the amount..

Surely, I am not promoting the idea of small businesses depending on the government all of the times, rather I am only encouraging the government to be heavily involved in promoting a condition and environment which will promote small scale businesses to thrive and operate more effectively..

[Prince patrick]

Obviously, the government really needs to support this small business and enterprise they should be allowed to have access to loans, so they can be able to expand the business and make more sales, they pay tax to government, I feel like the government always neglect small business like this and they are after bigger companies, forgetting that tourist that comes to our country always go to the restaurant to try out our meals, one of the most visited places are restaurants. Government can also collaborate with the owners of the restaurant and make it look more beautiful and attractive. The beauty is what attracts people and the food is what keeps the customers.

[Doll2233]

To keep the economic growth and stability of the community, the government should continue to support small scale businesses through financial aid in terms of loans and easy registration and licensing so that these business owners will be more motivated to drive local job creation and continue to provide  the people reasonable goods and services. This way, they don't just make their own business profitable but they also serve the people with fulfillment and satisfaction.

However, there might be challenges because the competition is tight in the market, that's why they have to do their business the right way. And make the biggest room for customer's satisfaction, next is their business high profitability.

Agree that a small businesses have a very huge impact on the economy of a country as compared to their sizes. They provide employment opportunities and essential goods and services to people and also give them opportunity to become financially independent rather than dependent on anyone. Government can also support them through giving them affordable loan and simpler and easier registration process provide them training and should be proper taxation laws that can help these business to survive and also to grow at same time. Similarly, business owners also have responsibility to understand their customers and also maintain proper value in market. When small businesses are given proper environment to grow and their combined impact contributes significantly to local development overall economic growth and employment.