Most new businesses fail: Annie McWalter - avoiding the pitfalls

Most new businesses fail - and that's just as true in the United States as it is in South Africa. The difference is that in the US, failure is not regarded as something to be ashamed of. That may be slowly changing in South Africa. What is clear is that some entrepreneurs fail not because their business case is poor or they lack ability, but because they lack support in, for instance, dealing with the bureaucracy that is required to establish a business. Annie McWalter is CEO of the Hope Factory, a successful entrepreneurship project that falls under the SA Institute of Chartered Accountants. She tells David Williams how the Hope Factory draws on the lessons of the past to guide entrepreneurs in dealing with pitfalls that can be avoided.