Minimized subscription in indulging in businesses will result in a harmonized trade engagement. Think of a nation that has to exist with others or a country with another under minimal restrictions in conducting business. Or since you can think of a limited subscription in order to elevate economical balance between nations.
Firstly, come to think of a board like the Kenya Bureau of Standards (KEBS). This body regulates the quality, quantity and any other component of a product directed to suit the need for the customers. With such kind of bodies, for example. Countries are able to engage in trade without fear of heavy penalties imposed on the perpetrators and those breaching the laws. The board also has a significant role in limiting illegal businesses in the country. Think of nations indulging in any sort of business without considering the rights of citizens. Of course, money is the key push to engaging in businesses, but negligence of the public rights and standards is a threat. In ensuring fair coexistence in businesses, ideologies like setting up standards would have more makeup than break down, it might attract.
Secondly. Reducing restrictions might serve businesspeople better. Consider this, for instance, countries choosing a specific nation to coexist with and closing the doors for others. This is more of closing behind innovation and ideologies that might boost the economy. Also, the issue of religiosity. Where a certain denomination chooses and creates an exclusive circle, as well as vetting some. These trample down the innovation and creativity.
Considering that we are all wired differently, the issue of fighting over barriers like religiosity should be leveled down because it is one of the issues affecting the economy. Similarly, Countries in the Middle East have had wrangles for long, and considering that they are the feedstock for oil, in such occasions, businesses falter. Thus, there should be freely interlink to curb the issue of hiking prices and scarcity. I think of it from the recent wrangles of Iran, Iraq, and Israel, which usually attracts deficit if the matters are not settled immediately. Businesses will thrive well if setbacks are relieved from countries and prospective core sources of inputs and trade boosters.
Fairness and balance. Thirdly, I could consider it my concern. It is and it has been the case and custom during peak harvests and surplus, that the stewards of the land face disappointments in disposing of their harvest, especially fruits. Some end up giving their produce at a throwaway price due to market fluctuations. But when the fruits, for instance, are exported, they end up being sold at a high price and are of benefit to the retailers. If these cultivators could be considered, and more so, be rewarded and paid better. Harmony and fair engagement in trade could be actualized. Also, currencies have more weight in different localities. Almost standardising the shilling with other legal tenders and denominations might serve the intra-African and global trade better.
In addition, the issue of tariffs and remittances on businesses specifically have much impacts on citizens. Some country councils and the national government do take advantage of businesspeople and end up mistreating them. Taxes and any levies should have a relief to their citizens this helps balance the cost of living and the trade. This is like applying the Keynesian theory that states that the government needs to lower taxes when businesses are faltering to increase the level of disposable household income.
Instead of having to borrow, like the cases with the Kenyan government, which end up being unutilised, and more of a burden to the public, countries should fully exploit their resources and expand their financial security instead of being slaves of want. The feedstocks in each country, which I believe we do have much to be fully utilized, and provide the capital required to settle in-house arrears instead of having to borrow from every corner.
Moreover, the common market for east and Central Africa (COMESA) and other trade unions have had much boost the economic sector especially to its members stated since they overseas the conducting of the economic activities, member States ate claimed to be far of interms of businesses advancements thus, if the same could be expanded to the rest of the world trade would be harmonised.COMESA has been there since its formation to provide, for instance, credit and trade finance to large-scale infrastructure and fund projects of the private sector. This is a big push for them. Also, trade has been simplified as a certain amount of goods are regulated to be cross at the borders. This reduces smuggling. Without leaving behind free trade that is made possible with limited customs duties on goods produced in the regions. Both regions, whether intra-African or globally, should adapt by forming trade unions to curb the issues resulting from uninformed decisions in business indulgence.
Furthermore, Harmony in trade engagement in the intra- African and global per se can be achieved if leadership is meant. This is like having better policies and strategies for the future of trade. Countries like those in Africa do have most of the raw materials and core inputs and feedstock, but they end up being overexploited and non-beneficial due to politicking and personal gain. This usually result to an unutilized resources and business stagnation.
Also, traders need to have Saccos and money lending organisations to boost their scarcity and deficit resulting from unfair disbursement of capitation for businesses. Consider the Nyota funding, for instance, very small groups are privileged to have it and lack motivation to venture due to an unrevised platform laid out for the utilization of the capital. Resources and feedstock could be made public affairs under the set rules, where nobody would take advantage of them anyhow, and trade would be boosted among nations.
In my parting shot, the whole idea of bringing harmony, just like the way a single note cannot make a melody, trade needs to be facilitated by allowing every nation, whether in Africa or globally, to prosper on level ground. This will be actualized if resilient and unified economic strategies are put in place.
