Write an essay about the role of local business in relation to the economy

Businesses indeed have effects on the country’s economy and play a significant role in
improving all aspects of life. Local businesses are those who operate or sell goods and products
in certain areas within a community. Examples of this are the sari-sari stores, food restaurants,
or any other kind of business that runs within the city. So, what is the role of local business in
relation to the economy?

The role of local business in the economy are: First, local businesses serve as job opportunities
to the people in the community. It creates and gives jobs to people which then pay taxes,
generate revenue and affect the economy of the country. Second, it acts as the source of goods
and services which fulfill the needs and wants of a community. Third, businesses whether small
or big, within the city or not, give other people the opportunities to be innovative and come up
with new products and services that may resolve problems and improve living. Last but not the
least, local businesses could be built up and became the pride of that specific area of the
community. Certain areas being known by the business in it, improve not only its locality’s
economy but also the country’s economy.

In conclusion, local businesses provide opportunities, jobs, goods and services to its
community, and contribute to the city’s identity, which consequently improve and influence the
economy.