Depends on the barriers to entry, and the willingness of the existing trust to endure short term losses to crush the upstart.
Look at liquor stores - protected govt oligolopy (you cannot open a new store if the town is at its license limit). No upstart is going to rock the boat
This. There are plenty of examples of government requirements preventing fair competition, which in turn prevents the little guy from getting in on the action. Look at the story recently of the kid mowing lawns who got shut down by his town because he needed a business license. Over-regulation prevents new competitors from coming to the market.