ISSUE ESSAY:
Claim: In order to help small businesses to thrive, government should play a minimal role in private business matters
Small businesses will flourish in an organic manner when government intervention is at a minimum possible level. This is due to many reasons on the part of the nature of the government in question, on the part of the banking structure and on the economies where these businesses are located.
Government intervention often translates to red tape; something that bigger enterprises have the resources to deal with. Unfortunately, resources are limited when it comes to smaller businesses and red tape becomes a major obstacle to company growth.
The free market system has allowed some of the greatest multi-national corporations to rise out of small stores. When the government does not meddle with the natural functioning of the market, small businesses too can have the chance to thrive by dealing with forces that they can counter with actions that are within their legal bounds. If the government involves itself through directives and orders, the common man might have to deal with crippling lawsuits or at least the limited economic maneuverability that is concomitant with government involvement.
Minimal intervention is a good policy to have, especially in countries where the governments are known to be prone to corruption and whose bureaucracy is riddles with unnecessary and expensive procedures which greatly hamper the ease of doing business.
A major concern for many of those who favor government involvement in small business matters is the fact that smaller businesses require greater financial and tax-related support from the government and government-backed banking institutions. While this fact holds true to a certain extent, fair banking regulations and sound business policies which make the ease of conducting business as high as possible are prerequisites for any government regardless of the level of involvement in business matters. If good business-related policies are in place in both the banking sector and in general government, a need for the government to create a 'safety net' should not arise.
From almost every angle, minimal intervention by government is optimal in order to allow small-scale industries to not only survive but also thrive and grow into greater entities. Minimal government intervention can lead to greater economic prosperity not only for the individual businesses but also for the economy as a whole due to the stabilizing effect that they have on it.
I am at the beginning of my penultimate year of my Bachelors in Information Systems and I wanted to know what I should be doing to get into grad school and at what time Thanks