TOZZIBLINKZ
VIP Contributor
So many sectors makes up an economy of a country. One of the most major sectors of a country's economy that totally affects its growth and development is the business sector. Business is definitely very mandatory and paramount for the economy of every country. In a country like Nigeria almost 77% of its growth and development is affected and influenced by business. You may be wondering apart from growth and development what are other reasons every country's economy must have business existence . Below are some of the reasons:
* Accelerates economic wealth impact: apart from growth and development, when a country's economy includes the existence of businesses it totally impacts not only the rulers but also private individuals living and residing in the country. Business existence in a country's economy is definitely one of the most interesting way for universal revenue generation.
* Promote innovation: transmission and conversion of earthly raw materials in a particular economy is definitely affected and influenced by business. However through this means businesses are able to bring out innovative ways of goods and services transmission from raw materials. Most raw materials pass through the process of assembling, melting, distributing, and forming through respective business outlets.
* Needs/Wants satisfaction: through businesses the needs and wants of private individuals living in a particular country are satisfied. Grocery stores and consumer goods and services shops are established in all nooks and crannies of every country, this is to ensure the optimum satisfaction and comfortability of human needs and wants.
* Accelerates economic wealth impact: apart from growth and development, when a country's economy includes the existence of businesses it totally impacts not only the rulers but also private individuals living and residing in the country. Business existence in a country's economy is definitely one of the most interesting way for universal revenue generation.
* Promote innovation: transmission and conversion of earthly raw materials in a particular economy is definitely affected and influenced by business. However through this means businesses are able to bring out innovative ways of goods and services transmission from raw materials. Most raw materials pass through the process of assembling, melting, distributing, and forming through respective business outlets.
* Needs/Wants satisfaction: through businesses the needs and wants of private individuals living in a particular country are satisfied. Grocery stores and consumer goods and services shops are established in all nooks and crannies of every country, this is to ensure the optimum satisfaction and comfortability of human needs and wants.