Essay: Barriers for Entrepreneurship

Sample Essay

The barriers for entrepreneurship however were put forward by the larger firms operating in the market. They formed very tight industries with no room for new entrants by forming cartels and oligopolistic market structures. “The barriers to starting a business for the non-starters are due to hard reality, lack of capital, lack of skills, compliant costs, and lack of confidence.” (Choo & Wong)

Other barriers that have been faced by entrepreneurial businesses in the 80s and the 90s pertain to the political situation of the region of operation, the changing tastes of the consumers in the markets and the economic fluctuations.

The increase in the number of SME’s and entrepreneurial firms in the period between 1980s and late 1990s has increased competition in the industries making them more efficient and diverse in terms of their management approach. Despite the popularity of the entrepreneurship concept, entrepreneurial firms have faced many barriers, but the opportunities available to them have enabled them to compete with the much larger and long established businesses in the market.

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