Why every economy needs business existence.

[TOZZIBLINKZ]

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.

 

[CALVINDOL]

Almost 90% of Nigerian economy is being affected by businesses and without businesses existing in Nigeria the needs and wants of many who makes up the masses will not be satisfied. Without businesses government itself will not be able to earn revenue as a result of not having any imposition of tax subject of victims. Also without business in a particular economy the economy itself would not grow and develop and stand to compete with other existing countries who are considered to be developing or overdeveloped. In a country like Nigeria business existence totally plays a very important role in the growth and welfare of the business at large.

So many reasons exist why businesses should exist in a country like Nigeria some of which you have totally explained above but the one I would love to add is that. Business exist in Nigeria so that individuals can earn a living. Many are not able to wait on to the government to provide jobs and careers for them back if I have to be able to make ends meet many have chosen to establish businesses.

 

[Axis]

To ensure optimum growth and development it is absolutely very necessary that a business economy exist in a country and the business economy or sector shouldn't only exist but rather it must be financially facilitated by the consistency of the government. It is absolutely very necessary that businesses exist in a particular country and if there is absolutely no other reason we could remember, one of the main reason why this is so is because through businesses we can be able to satisfy our needs and wants.

Secondly with the existence of businesses we all can be able to earn a living there by having a good and equitable source of income. In most areas of west Africa majority of people are not able to wait for the government to provide their needs and wants and so in order to remain financially equipped and stable many have chosen to establish businesses so as to earn a living. The idea of establishing a business can totally be the best way to earn a living and the reason is because establishing a business helps you manage and also take advantage of your country's resources and other form of raw materials which exist as labour and capital.