Do you think that all smaller businesses will be replaced by bigger companies? Why?
IELTS Speaking AnswerNo I don’t believe that will happen, quite the reverse actually. Some big companies might remain so, or even get bigger, they may merge with other big companies in order to consolidate their market share and grow their profits, especially in many mass produced products which are not very personal or interesting such as laundry detergent and household cleaning products. But there has been a trend in recent years for small niche businesses providing specialist products and services to consumers, and it’s a trend which is still growing.
There is a lot of emphasis on personalizing the purchasing experience and customizing products for customers and I believe that in the future there will be even more small enterprises serving very specialized markets as a response to people’s desire to consume in this way. This is also a direct result of globalization and the developments in e-commerce which allow even a small business to cater to a customer base which is international – even for what you might think are very niche products, their market on a global scale makes it a viable business proposition now.