Barriers to Entry - Explained
What is a Barriers to Entry?
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Table of ContentsWhat are Barriers to Entry?
What are Barriers to Entry?
Barrier to entry is a term used in economics throwing light on what challenges a competitor would encounter when entering a specific sector or industry.
Examples of general barriers to entry include:
- high capital asset costs,
- licensing or regulatory approvals,
- exclusive tax-based privileges offered to current organizations,
- patents or other intellectual property rights,
- brand awareness or image,
- Customer Base (loyal customers),