3 reasons small businesses suffer against other competitors
Resources
Merging
Control
Resources
“Small businesses don't often have access to the same amount of
resources as their larger competitors. When larger competitors merge or
monopolize within a small business's industry, the small business may
suffer income losses. In some cases, a small business may even be forced
to close its doors as a result of a monopoly or the merger of
competitors.” -Amanda McMullen. Small businesses usually do not have the
money or resources to continue their businesses, as their competitors,
or monopoly controlling the industry at the time, has more funding and
resources. This can overpower the smaller business owner and can be one
of the reasons a small industry can be put out of business.
Merged Against
Small businesses usually face larger companies collaborating with one
another making, not only the opposing competitor have a bigger market
and greater funds, but also makes other businesses have a smaller chance
on the market.
Control
Monopolies, since they have a good amount of money in their power, are
able to control the pricing almost at freewill. A monopoly can up the
pricing once there are no competitors to challenge them, and can simply
lower the prices when a competitor appears.
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