What Challenges Do Entrepreneurs Face in Competitive Markets?
Entrepreneurs face several challenges in competitive markets, including:
1. High Competition: Intense competition can lead to price wars and reduced profit margins. 2. Market Saturation: Entering a saturated market can make it difficult to attract customers. 3. Rapid Technological Changes: Keeping up with technological advancements requires continuous investment and innovation. 4. Regulatory Hurdles: Navigating complex regulations can be time-consuming and costly. 5. Resource Constraints: Limited financial and human resources can hinder competitiveness.