Economic growth is a necessity for the development of a country. Companies and entrepreneurs stimulate the growth of an economy. Companies help in the building of a nation. According to a study, small and medium enterprises account for more than half of all the formal jobs worldwide. They achieve this by providing goods and services. Without them, a nation’s economy will be smaller and weaker.
There are companies that have implemented strategies to impact on the growth of the economy of a country and enhance the lives of those living in it. World biggest corporations such as Apple, Shell, Walmart, Samsung have succeeded in impacting on each of the countries they are situated in.
Samsung
Samsung has also affiliated with most South Korean companies which account for around 15% of the whole South Korean economy. It has assisted in mitigating the high rate of unemployment in South Korea by providing lots of jobs for the unemployed. It has contributed to making the Asian nation one of the richest in the world. With the yearly production of their mobile devices and other technological equipment, they have been able to generate massive revenues for the nation.
Apple
In the USA, Apple has its business established around an objective to help build the American economy and provide employment for the masses. Apple has already provided and supported over 2 million jobs and has plans to create more jobs with their new initiatives. They focus on investments to help create jobs for Americans.
Current Apple’s investments contribute to the American economy and were estimated to be over $350 billion dollars over the next five years. Apple is the largest taxpayer in the United States of America which repatriates over $38 billion to the coffers of the federation. This has been used in the development and provision of structural infrastructure in the nation.
Walmart
The US economic growth can be attributed to one of the companies in the country known as Walmart. Walmart could take credit for the economic development in the 1950s and 1960s. It has contributed immensely in helping the United States of America become a global power to reckon with. Walmart has over 3,900 stores in the USA.
The US-based company is a vital conduit of importation of Chinese products into the market and the exportation of the USA-made goods into the Chinese economy. Walmart importation and exportation of goods accounted for over $49.1 billion generated in 2013. It has provided over 400,000 jobs between 2001 and 2013.
Huawei
The Chinese economy has witnessed rapid growth over the years amidst the presence of world-leading Smartphone manufacturers like Huwaei. With the aim of the company in becoming the number two world Smartphone manufacturer, it has created a significant number of jobs and contributed massively to the revenue generation of the country. It produces Smartphones and exports them to over 170 countries. In 2016, Huwaei contributed about 42% income of the revenue generation in the economy.
From this, one can see the enormous importance companies are for a nation. They are not the fulcrum of a country but also the oxygen for the economic growth.
There you have it! Above are a couple of companies that assist their countries economically. Even after making a large sum from their investments, they still take it as a responsibility to partake in economic development and nation building.