andy chuksBusiness place a very significant role in the economy of any country. Some of them includes:
- Provision of Employment Opportunities: Business needs people to run it, such they employ people and by doing so provide jobs for people in the area where its located.
- Contribution to the GDP of a country: Gross domestic product (GDP) of a country is the market value of total goods/services produced by the country in a year. The good/services are produced by businesses that reside in the country.
- Increase in Standard of Living: Businesses help improve the standard of living of any country through renumeration to its workers.
- Infrastructural Development: Businesses help in development of the country through its social responsibilities.
- Research and education: By training and retraining of its employees, businesses contributed to country educational development and research. 0009 July 2011