What does Regulatory Barriers mean?

Regulatory barriers refer to rules, laws, or regulations that create obstacles for businesses or individuals in entering or operating in a particular market. These barriers can take various forms, such as licensing requirements, compliance standards, tariffs, or other bureaucratic hurdles. They can limit competition and innovation by making it more difficult for new entrants to establish themselves or for existing entities to adapt. Ultimately, regulatory barriers can impact economic growth and consumer choices.