The main purpose of this work will determine the impact of globalization on the development of small and medium-scale firms. More specifically, the research will focus on: Expounding the globalization framework, small-scale business development across the globe and the effect of the trends realized on trading activities. Determining the factors that hinder the process of integrating small businesses into the global economyWeighing the effect of globalization on the power of small enterprises to create job opportunities for a majority of the populationAscertaining the best recommendations that would integrate both the small and large-scale businesses This study will benefit businesses, the society, and the government because of the relationship between small-scale firms, the economy, and the social well-being of the people.
Owners of businesses will learn how to position their activities so that they have a global appeal because as it stands, there is a need for all firms to embrace the trend. If the firms embrace the process of globalization, they will expand their market base and make more profits. In the event that corporations make enough profits, they will have the power meet their obligations to their stakeholders.
The government will generate more taxes from such institutions and use the revenues to provide essential goods and services as well as creating job opportunities for the people. Many scholars of diverse interests wrote about globalization, development, and small and medium-scale businesses, and formed varied viewpoints concerning globalization. This section concerns an analysis of some of the concepts. As mentioned in the introduction, there are ample definitions for globalization, but none of them has an international appeal. The reason for such is that every definition focuses certain universal preferences, which may not apply to others.
The economists perceive the process as a way of increasing interstate division of labor and the associated integration of economies of various countries using trade, goods, and services. In such a perspective, globalization is a phenomenon in which separate national markets transform into one global marketplace and consequently, resulting in the internationalization of the process of production.
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