What Challenges Do Entrepreneurs Face Due to GATT?
While GATT offers numerous benefits, it also presents certain challenges for entrepreneurs:
Increased Competition: As markets open up, local businesses may face increased competition from international firms, which can be challenging for new entrants. Regulatory Compliance: Navigating the various regulatory requirements and standards set by different countries can be complex and time-consuming. Currency Fluctuations: Engaging in international trade exposes businesses to currency risk, which can impact profitability.