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Small local business provide advantages to the surrounding community that large big box retailers cannot offer. The local businesses serve few advantages of its own :
1. Significance-Doing shopping at local businesses can have more significant impact on the local economy.
2. Benefit- The money earned in the exchange of good in the local businesses is used for many other things including the financing of roads, public schools, sidewalks etc. The money is used to provide fund to activities that comes from taxes, which are paid in part by small local businesses as sales tax revenue.
3. Time Frame- The local businesses that are able to maintain positive growth through sales tax revenue each year to meet the need the financial need of the city.
4. Consideration- Local businesses do provide job opportunities for the local residents. The main advantage of a small local business employing local residents is to provide them with the better community, worships, play sports, and socializes with community members and cares about the individuals.
Glocalisation: The practice of doing business from a local as well as a global perspective.
Advantages of Glocalization:
- Attracts more consumers in the market as it is flexible, therefor higher profits.
- Adapts to different countries and avoids ethical issues. Avoids ethical costs.
Disadvantages of Glocalization:
-Spend more time researching other markets.
-If not successful waste of money for the firm.
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