What would it mean for an entrepreneur if the market forecast for the kind of business that they wanted to start indicates that the market for that product or service was expected to decline?
A. Under no circumstances should someone start that kind of business.
B. Competition is likely to more intense than in some other businesses.
C. It will be very difficult to find people with the skills required to sell that product.
D. That business is going to be more heavily regulated since growth is projected to slow.
B. Competition is likely to more intense than in some other businesses.
If the market forecast indicates that the market for the product or service is expected to decline, it means that there may already be established competitors in the market fighting for a decreasing customer base. This would make it more challenging for an entrepreneur to succeed in that particular industry.