Business Owners And Entrepreneurs Face When Start Up A Business

1210 WordsDec 16, 20155 Pages
Lots of people have an aim to start up their own businesses in their life time. For many people creating a product which is utilized or enjoyed by the customer gives a very satisfying sense of accomplishment. This type of feeling cannot be seen in the job which they work for someone else. This essay will outline Few key hurdles that all business owners and entrepreneurs face when start-up a business are Companies entering foreign markets may face problems or increased costs because of the business environment and the way in which the companies operate. Marketing services might be expensive and certain payment mechanisms may be unavailable. Some of such difficulties include The first problem is a monopoly situation represents a very serious entry barrier. It occurs when one company is the main provider or service of a product in the market. Monopolies might be created by takeovers of competing companies ‘Monopolies often block entry to competitors by using patents and licenses to stop the growth of possible substitutes, by controlling distribution routes, resources or suppliers or, by using pricing strategies.’ (Abraham S2014) For example, the supplying of internet services in North America is a monopoly kind of situation, because of the way internet signals are carried through phone lines or cable. According to Abraham 2014 ‘Consumers have only one of the two choices for how to obtain their internet service through their phone company or cable provider. In

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