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Start-ups: In a highly competitive field, should we continue with our startup or call it quits?
JB
JB
Joy Broto Nath , Global Corporate Trainer & Strategist answered:

Continue, do not quit. Missouri and federal antitrust laws protect competition. Antitrust laws are “pro-competition,” intended to ensure that businesses can compete in an open marketplace where they can try to provide goods and services of higher quality at lower prices.
The antitrust laws seek to ensure that industry is competitive, with several manufacturers or distributors of products and services all striving to attract customers. If a business does not face competition, it has little incentive to lower its prices or improve its products. If there is only one seller in the market, it may charge higher prices without fearing a loss of sales to a competitor.
Thus, the goal of antitrust laws is to protect consumers' purchasing power and save jobs and businesses, all at the same time. Due to our national and often global economy, competitors from another state, region or country will eventually pierce the market and take business away from the local seller, who has become inefficient and weak due to lack of competition. That may ultimately cause the local business to fail and result in a loss of local jobs.
The things that stop competitors from entering an industry are the things that let the established businesses keep their piece of the pie. Some new businesses face the problem of convincing customers that it is worth the cost of moving away from their current provider. You would think if you have a great product that is of benefit to consumers, that you could just get the materials and start mass-producing it, right? Sometimes it is not so simple. When these channels are either exclusive or expensive, it can greatly impede newcomers to a certain industry. This is one of many barriers for those who would enter the auto industry, which is why there are so few new competitors.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

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