5 Roles of Communication in Economic Development are discussed in this article. We hope you find it informative and helpful for your research.
Since communication became more accessible and cheaper, our economy has continued to bloom and this might be a pointer to the potency of communication as it relates to the economy. One might ask, “Is there actually a relationship between communication and economic advancement in the country?”
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This article will answer that question and as well, make you see how you could leverage the benefits of communication.
Communication, as far as I am concerned, is the good news of salvation that technology brought to our businesses. Here are the roles communication has played in the Nigerian Economy:
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1. It is a Catalyst to Economic Development
It has linked every part of the country and also linked the nation to the rest of the world. Since development diffuses, if a country is not isolated, just by the linkages of communication to the rest of the world, the development will begin to diffuse.
You will agree with me that we were not as developed as we now are some years before mobile phones and social media reduced the whole world into a small box.
2. It is very instrumental to the growth of small businesses
Small business owners who are mostly entrepreneurs can attest to how communication has made their businesses grow sporadically.
They can make a list of customers they had made by communicating with them on various social media platforms and e-market forums available on the internet. This means advancement for our economy because the growth of economies lies on the shoulders of entrepreneurs.
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3. It simplifies operational activities
In various firms and industries, the members of staff from one branch of the firm no longer have to embark on long journeys to attend meetings frequently.
There are communication media that can allow for this even when they are at their various work posts. One singular telephone call, a WhatsApp group chat, a webinar, video chats, etc., and things will go smoothly and less cost is incurred.
4. It has made information readily available
With the help of communication, many eyes have been opened to the resources that were lying fallow. Several “how-to” videos have helped people acquire skills that they later found could be monetized. Imagine how this is saving the Nigerian economy by reducing the number of people who have no jobs.
Information is true, power and any place where it is frozen and not allowed to spread, the people cannot move forward.
5. Revenue for government
Communication is a sector on its own, from which the Federal Government makes annual returns in the form of taxes.
The communication companies under this sector also hire a lot of people, engineers, customer care agents and this goes a long way to further reduce the increasing rate of unemployment.