The risk of failure is an inherent part of free enterprise.

The risk of failure is an inherent part of free enterprise. Does society have an obligation to come
to the aid of entrepreneurs who try but fail? Why or why not?
I do not think that the society is obligated help an entrepreneur who keeps on trying and
failing in business. The entrepreneur accepts the risk of failure the moment he/she ventures into
the free enterprise. Any form of failure that comes along is not a doing of the society and it is
therefore not mandated to come to aid of the entrepreneurs. However, the individuals need to
learn to minimize the risk of failure as much as possible in order to succeed business. While it is
true that free enterprise comes with the risk of failure, entrepreneurs should weigh the risks to be
knowledgeable on the way the available risks may affect the business. It is should be the
obligation of the entrepreneur to look for the society to seek for help after weighing the risks.
Entrepreneurs should be prepared to handle the consequences that follow in case failure
occurs. Furthermore, the entrepreneur should thorough analyze all the risks of failure including
the environmental changes, market trends, brand competitions and even economic shifts. After a
good analysis, the individual may involve other business professionals in the society for
consultation. It is wise that a business has some form of insurance or cash reserve to cover
potential failures.

Surname 2
It is also important to use a team of people who believe in the success of the enterprise. A
strong group of people in an enterprise are able to predict places of weakness that are likely to
lead to failure and in turn they provide advice, guidance and support. This way, the entrepreneur
does not have to seek for societal aid as a result of failures.