The bargaining power of suppliers is encouraging for small businesses attempting to enter an industry.

Question

Quizplus · Accepted Answer

The bargaining power of suppliers can be a significant challenge for small businesses entering an industry. Suppliers may have the power to dictate prices, quality standards, and terms of delivery, which can make it difficult for new entrants to compete on cost and quality. It is important for small businesses to carefully evaluate the bargaining power of suppliers and develop strategies to manage this risk.

The Bargaining Power of Suppliers Is Encouraging for Small Businesses