At other times, the costs loom larger. Indeed, in normal times, when economic and financial risks are clearly two-way, there is a very basic law of economics at work. Volatility happens. It is a force of nature.
The main preconditions have been: (1) a macro-economic environment in which entrepreneurial activity is able to thrive and prosper; (2) an education, or more broadly, a value system, that encourages an entrepreneurial culture; (3) a comprehensive support regime, including financial assistance in various forms, as well as technical support and training.