Barriers to entry are obstacles that make it difficult for new companies to enter a market. These barriers can include high startup costs, strict regulations, and established brand loyalty among consumers. When existing companies dominate a market, it can discourage new competitors from trying to join. Another common barrier is access to distribution channels. If established companies have exclusive agreements with retailers or suppliers, new entrants may struggle to get their products to consumers. Overall, these barriers can limit competition and maintain the market power of existing firms, impacting prices and innovation.