1. Entry barriers used to be much higer. Now a flood of people with no business to be in business are in.
2. Too many are in business for a quick buck then to give value to customers. It is amazing how they self talked themselves into believing that they are giving value.
3. There is simply too much money around. A lot of it did not come from long hours, sweat and tears. That is what happen when the economy grows very quickly. Easy come, easy go.
4. Too many books and courses selling how easy it is to start your business. Sure, there are quite a few businesses you can do with no money down. When many people know what these strategies are, it gets crowded.