20% of small business startups fail within the 1st year.
50% of small businesses suffer after 5 years.
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“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.
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.
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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