In any business industry, competition is very important. It helps improve the welfare of the clients at the end of the day. An industry which is characterized by monopoly is always exploitative and expensive to the ordinary customers and this should be avoided. There should continuous competition in any single industry as this will be key in terms of ensuring that creativity and innovation is harnessed in the industry. Many business opportunities have come up as a result of competition in the market and as a result, this has led to provision of high quality services and products to the market as each and every industry player will be fighting to retain their market share at the end of the day.
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In many countries, government are relinquishing their monopoly in state owned Parastatals and corporations in order to create room for competition with the private sector as this has led to improved economic performance in many countries in and around the world. There is need for such efforts because each and every player in this world has got to play a role in transforming the world to be a better place to live. Governments therefore should not be left behind. They should lead by precedence.
They should encourage competition rather than playing dirty tricks to suppress it as it is the norm in some countries and especially in the developing world where government officials control virtually all the sectors of the economy and hence play rough games to ensure that they eliminate any upcoming competition as such efforts will ensure that they remain in control throughout.
In order to enhance competition in newborn photography business, entrepreneurs should invest in high quality and modern equipment as this will enable them offer high quality photographs which are comparable to none in the market. This is very important as it will ensure that other entrepreneurs wake up from their slumber land to embrace technology for fear of losing their clients at the end of the day. As a result, the industry will become lucrative and it will attract many clients who will become part and parcel the business. Some of photography businesses include a maternity photography service.
In addition, more and more investors will invest their money in this industry and this will enhance the quality of photographs as each and every player will be fighting to hold on to their clientele base. Further, strategic location will be instrumental in enhancing competition in baby photography business. The entrepreneur should locate their businesses near their clients. Locating far away from the clients will scare away clients as no single client will be willing to walk for long distance in search of a photographer yet they can secure such services from their next door neighbor.
It is important for the photographer to conduct research on where they should locate their businesses as this will help them tap the best market which they can exploit for the benefit of their businesses and families. Many entrepreneurs in this sector locate their residential areas and maternity hospitals as these are known for many clients.