What are the barriers of having competitors in business.

[CALVINDOL]

Competitors in business can totally boost a business owner seriousness to try out various ways to boost business profit and performance. However, having competitors in your business can be a barrier and can totally make you to indulge in so many wrongful activities. Feeling opposed by competitors is definitely okay, but possible steps can be taken to make sure that you reduce your chances of being threatened by them. It is definitely necessary that we understand this barriers encountered in having competitors in business some of which include:

* Reduces enthusiasm: where business seems to be the only kind any particular environment it definitely has high enthusiasm in believing that customers and clients are more likely to notice it and make bold step to patronize the business. But once the business encounters a competitor or competitors, the business enthusiasm is reduced, most times to the last stage especially if the competitor is a large-scale business Enterprise.

* Influences the pace of business growth: the plans and speculations in which the business owner has towards his or her business in order to see it grow and develop can be thwarted or obstructed when the business encounters competitors. In other words the pace on which the business was supposed to grow and develop can be hindered or reduced, moreover the business owner will have to struggle with competitors in the picture to grow and to develop.

* Pressure to do bad: most business owners and managers, in other to meet up with their competitors progress begin to carry out unlawful business practices which involve imposing unnecessary prices on their goods and services in order to make extra profit and income. Majority of them go as far as to mis-inform clients and customers about a particular product so as to make sales. It is important that business owners and business managers understand that unlawful business practices does not boast business income but absolutely downgrades and destroy business reputation.

 

[Axis]

The business organisation who was once on the top of the business market can totally reduce it morale when it encounters competitors and business rivals which in most cases are larger in scale and capacity. Having competitors in business can be a blessing as you are more likely to learn how to run your business from your own example especially if your competitors are successful more than you, but on the other hand having competitors in business can totally be a setback in your business progress and development and it can also to thwart the pace in your business can grow and develop.

As business owners who strive harder to remain in business one of the possible ways that we can take in order to make sure that we do not become affected by other competitors is by making good use of other strategies of selling and rendering business products some of which include social media awareness and online or digital marketing.

 

[Holicent]

It is a common thing that people think that business competition is not something bad. But the truth is that competition can be a good thing, but only if you know how to handle it.

The first barrier of having competitors in business is that it decreases your profits, because when companies compete with each other, they try to lower their prices and increase their production, which means that they will have less profit. If you have only one competitor, then you will have to lower your prices even more than your competitors do and make less profit than them too.

The second barrier of having competitors in business is that it makes you lose customers who used to buy from you before, because when companies compete with each other, they try to lower their prices and increase their production, which means that they will have less profit. So if there are no more customers buying from your company anymore and there's no way for them to find another company who sells what they need at the same price or less, then at least some of those customers will go away forever and never come back again.

 

[eldavis]

Like they say, everything with an advantage also has its disadvantage as well. Having competition in business can be pretty healthy but at the same time, if care is not taken it could lead to the fall of the business. Most of the competition you would come across are does who have no sense of morality, hence they would be willing to do anything to make sure they overshadow your business, this could lead to you falling into pressure and also doing things against your beliefs.