In America approx 50% of the people who try to start a business fail. My question is, would society be better off if they didn't try at all and waste the time, resources etc. on what in a lot of cases was a pipe dream? And should starting a business have more regulations put in place to keep the uneducated dreamers from just doing something on a whim? Would the entrepreneur spirit suffer if say everyone who wants to start a business have to take classes/tests or even a degree to do so?
Nope. Because out of failure can come success. Many a successful business has been benchmarked off the backs of failed predecessors. Innovation isn't always a "win at first shot" thing. It's ugly, and can take time and many failed attempts prior to success.
Also, serial entrepreneurs fail on average 3 times before succeeding on the fourth attempt. So, these successes eventually built successful businesses, but it took them four tries. We shouldn't try to restrict them after one fail...they need a few more kicks at the cat.
And also, just because a business fails, doesn't mean it didn't pay taxes, or employee people, for even a short or possibly longer period of time. So there is economic benefit to the country to let it happen.
