Business environment and industrial growth
Business environment and industrial growth are directly related to each other. Stability of the former ensures fast pace of the latter. As a matter of fact every kind of growth needs a congenial surroundings and support from all the sides. If one aspect of a scenario has any kind of uncertainty, the growth would be difficult to make there. To move high it is necessary that you have all the accessories to fly. Same is the case with growth, you can’t move up if you don’t have all the basic equipment to do so.
Who falters in growth?
We easily comment on lack of growth in any country or any sector. In our enthusiasm we also enumerate the causes of the less or no growth somewhere. But we forget to refer the basic requirements for growth. The top requirement for any kind of growth is sound base where any operation is going on. Either you do business, voluntary work or any other activity if you don’t have a firm foundation to do your work you can never excel in your profession.
The direct relationship between business environment and industrial growth speaks volume of case studies where its practical demonstration can be observed. Let’s take an example at the micro level. Suppose you run a continental restaurant in a posh and peaceful locality. It means people can afford to dine out there. Also there is complete peace where the restaurant is located. So obviously you will do huge business there. It means the overall environment of the surroundings of your hotel is quite conducive to your eatery business.
Reasons of less growth
Which countries are making less progress in the world? There is no uniformity of growth in any of the two countries of the world because each country has its own unique business environment. Following are the main causes of less growth in least developed or backward countries.
- Lack of political stability
- Precarious law and order situation
- Flaws in its governance system
- Shortage of skilled manpower
- Shortage of energy and power
- No attention to sound business policy making
All these points are the part and parcel of the adverse business environment and industrial growth cannot be achieved in their presence.
Hence we can say that business environment and industrial growth move side by side. Most interestingly both of them support each other. If there is high growth in business and industry of a country then obviously its business environment would also stabilize. It would become quite congenial to investment, industrialization and for the ultimate growth. In this way the wheel of progress keeps on moving.Do You Like This Post?