Recall two challenges the Industrial Revolution posed for businesses.

Competition: The Industrial Revolution led to a significant increase in the number of businesses in various industries. This increased competition among businesses. Companies had to constantly innovate and improve their products and services to stay ahead of their competitors. This was a major challenge as it required significant investment in research and development.

Labor Issues: The Industrial Revolution also led to a surge in the demand for labor. This resulted in labor shortages and increased labor costs. Businesses had to deal with issues such as strikes, wage demands, and labor unrest. Additionally, the poor working conditions in factories during the Industrial Revolution led to a demand for better labor laws, which posed another challenge for businesses.