Overcoming the Fear of Failure: Boosting Small Business in China

Is fear of failure hindering Chinese entrepreneurship? A new initiative by the Chinese government suggests that cultural sensitivity to failure may be preventing some Chinese businessmen from launching their own companies.

By Deborah Lehr as featured on Huffpost

Is fear of failure hindering Chinese entrepreneurship? A new initiative by the Chinese government suggests that cultural sensitivity to failure may be preventing some Chinese businessmen from launching their own companies. On June 17, China announced 100 measures to support Chinese entrepreneurs, particularly in the tech and service industries. Tucked into the fine print is an offer to counsel businessmen in overcoming their fear of failure -- and coping with failure when it does occur, in the cutthroat, breakneck pace of China's booming small business sector. This initiative is vitally important because energizing China's entrepreneurial spirit and fostering small businesses are essential components of China's economic restructuring plan: to stimulate a slowing economy by promoting the private sector as the primary engine of growth.