Interesting blog.

However, it doesn't answer the question asked in the title.

In the categorisation of business, for monopoly business, another way to look at them can be that these businesses where the buying decision is significantly influenced by third parties. For instance, when purchasing electrical items, customers often rely on recommendations from electricians.

The nature of the business might not always be monopolistic.

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Interesting to see how the role of the business owner changes in each type of business

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"This is because the personal lives of these SME owners are deeply intertwined with their businesses. They find comfort in their chaotic and unorganised existence. They view this lack of structure not as a drawback but as necessary flexibility, enabling quick adaptation to changing circumstances."

100 percent yes to this!

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