Many years ago a friend of mine started up his own business as a parts supplier for industrial and earth moving equipment. Being new to running his own business he did things pretty much by the book, including only applying a 110% markup to his prices.I think we need to add another qualification to a business license - no gouging. Healthy competition is supposed to minimize that, but that has become very rare.
Several other businesses started complaining that he was undercutting them by too much and putting them out of business. My friends business was very successful but over the next few years he was broken in to and vandalised several times including an unsuccessful attempt at starting a fire in the premises, and he received death threats and threats of harm against his children. There's a lot of people in the business world that just aren't very nice.