Variables That Hinder The Economical Advancement of a Nation

The economical advancement of a country relies on many industries that greatly helps on manufacturing products and providing services to different institutions. That is why a little portion of small to medium enterprises (SMEs) and even research and development (R&D) research and development (R&D)institute today depend on grants or funding that the government or other companies provide, due to the lack of resources to continue the their business and operation of their establishments. Even so, there are still some unwanted factors that limit the advancement of the economy in many countries.

Natural disasters - There are countless of disastrous events that took place in the past which have caused many infrastructures and establishments to collapse, causing affected countries a lot of loss when it comes to their physical capital. An earthquake, for example, is an unavoidable calamity that can destroy many buildings and not to mention the lives that it affects. It can also destroy the livelihood of many people. Another example is Hurricanes, which can also cause such destruction that can affect biotic resources such as animals, forests and even fishes. Lives that are lost during such undesired calamities can also indirectly affect the organization or company they are a member or an employee to, since the lack of work force is one of the main reasons why the production of items and merchandise decline, thus, affecting the economy.

Poverty and education - People who does not have proper education often find it hard to find a job, due to the fact that the corporate world require more set of skills and educational background unlike blue collar jobs that relies more on manual labor. The reason why some people does not have a good educational attainment usually roots from poverty. The inability to afford school, or the fact that some schools do not have enough facilities and personnel to teach children properly can not only affect a person or student's willingness to learn, but also can affect his or her future. With that established, people who are not educated may not be able to contribute to the country's productivity.

Healthcare - Not having access to healthcare can be a factor of why productivity is hindered specially in the field of business. People who are prone to illnesses or is from a family that has a history of a specific illness that does not have access to healthcare can affect how they do their work. Treating sickness and disease can be costly, which can lead to a person's financial bankruptcy. That is why most jobs in the corporate world provide healthcare together with other good benefits to ensure that their employees and workers are well supported to ensure that the production of the company is not affected, thus, contributing to the country's gross domestic product.

The economic growth of a country is measured by the amount or specifically the market value of the products, goods, and services that are produced over time. That is why any variable that can affect the productivity in a certain workplace in the business industry, or destroy resources which can be manufactured to different products and goods can cause a decline in a nation's economic advancement.