Explain why there are so many new business enterprises in the tertiary sector of industry, such as hairdressing and car servicing.
Tertiary sector is the most profitable sector. Firstly, they create job opportunities which would reduce the unemployment rate. This will increase the living standard as people have more disposable income to spend on products and services.
Next, tertiary sector compete with each other the most. Hence, they will try to supply the products with good quality, design that captivates other people, and set the reasonable price. This would benefit the society as competition lower the price of products and offer more choices for consumers.
Lastly, services often have lower start-up cost than primary or secondary sector. This increase their profit margin, thus the government could gain more tax from them to spend on infrastructure or social projects.