Assignment on Task 3 Information and data on the micro, small business occurring in Pakistan

It can be noted that there are a lot of small businesses that are operating in that country. These organizations contain employee that is less than 250. According to the research, it can be seen that in different sectors of Pakistan, these small businesses playing a major role in stabilizing the economic condition of the country. It can seem that Pakistan is considered a developing country. Due to this, there are a lot of variations in the economic structure of this country. The next thing is that the growth of the industry in Pakistan is gradually increasing every year.

This can be seen from the statistical graph that is given above. In the mining sector of this country, there is quite a low amount of contribution to the industry. But it can be seen that it is better than the previous years. The next thing is that in the manufacturing sector, there is high-quality growth. This is because this sector is working high for improving the economic standards of the country. The next important thing is that in the electricity sector there is not much increment in the industries.

Importance of small business and another business startup for the growth of the social economy

It can be seen that in Pakistan, the importance of small businesses and startups is extremely high. The main reason is that they are contributing to the increase in the social economy of the country. This shows that there is a huge importance for small businesses that are operating in Pakistan.

The next thing is that in the rural areas of this country, many farmers are involved in small businesses. Such businesses are involved in the increase in the local economy. This is because these small businesses are providing essential help to small peoples. Furthermore, it can be noted that in urban areas or small cities, these small businesses are only diverse in the inventory and also enhancing the customer experience. The next thing is that small businesses are also originating from different opportunities for employment. The people that are unable to make a mark in the big industries can easily start their careers with the help of small businesses. These small businesses that are operating in Pakistan are involved in creating millions of jobs for rural and urban peoples.

Some advantages are gained from these small businesses in the country

Improvement in the economy

It can be seen that there will be a huge increase in improvement in the economy of the country due to these small businesses. This is because they are opening a large number of opportunities for the individuals so that they can easily work and help in the increase of the economic structure of the country.

Increase in employment

The next thing is that there will be a huge increase in the number of employees. These small organizations are hiring a lot of employees for different sectors of the country. They are also providing opportunities for those individuals that are unable to make a mark in the big organizations.

Differences in small, medium and large businesses

There is only one main difference that is present in the small-medium, and large businesses are related to the number of employees. It can be seen that if there are about less than 250 employees that are working in the organization, then it will be considered as a small organization. On the other hand, if the organization contains employees that are between 250 to 1000. Then this company will be considered in the medium business category, and on the other hand, if any organization that contains employees that are more than 1000, then it will be categorized in the large business. On the other hand, there are quite a few large companies present in this country due to this they are putting quite a low impact on the economy of Pakistan.

Impact of small businesses in the context of local, national, regional and international

In Pakistan, it can be seen that there is a huge impact on such small businesses in the economy. The main reason is that they are involved in creating new opportunities for individuals. Such businesses are involved in the increase in the local economy. This is because these small businesses are providing essential help to small peoples. Furthermore, it can be noted that in urban areas or small cities, these small businesses are only diverse in the inventory and also enhancing the customer experience. This is because they are opening a large number of opportunities for the individuals so that they can easily work and help in the increase of the economic structure of the country.

This shows that if there is a discussion about the local market or economy, then these small businesses are playing a major role. This is one of the most important points for the country that they have to put complete focus on small businesses so that they can easily stable the economic structure. Moreover, the next thing is that in the context of the national economy, these small businesses are cooperating efficiently. The best thing is that they are introducing new things in the manufacturing industry. This shows that it is also showing a reasonable impact on the national economy of the country. On the other hand, there is quite a low impact on the international market due to these small businesses.

The main thing is that Pakistan is not focusing on the exports in the small business. If these small businesses are working in the export sector, then it will have a comprehensive impact on the international market. In different countries, some small companies have had a huge impact on the economy in the context of the international market. The main reason is that their small business is working on exports. This shows that the small business that is operating in Pakistan have to focus on exporting their products in different parts of the world.

Examples that can easily hider the person’s background and foster experiences

It can be noted that several reasons can easily hinder entrepreneurship. The next point is that the growth and decline of entrepreneurship are only dependent upon these factors, and that include caste, creed, race, religion. There is one of the most important aspects that is involved in affecting entrepreneurship is the experience of the individual.

Another thing is that some factors are playing a major role in foster entrepreneurship.

The next thing is that entrepreneurship can be affected due to national cultures in a particular area. The conditions of that area are not supportive of conducting the business.

The next thing is the economic condition of the country. It shows that if the economy of the company is not stable, then there will be quite a low chance of entrepreneurship for the new business. These are the pain individual in the organization that has complete authority to apply any change in the organization. It can be seen that if there is a requirement of any change in the organization, then the managers of the company work for it. It can seem that Pakistan is considered a developing country. Due to this, there are a lot of variations in the economic structure of this country. The best thing is that they are introducing new things in the manufacturing industry. This shows that it is also showing a reasonable impact on the national economy of the country. On the other hand, there is quite a low impact on the international market due to these small businesses.