It has become commonplace to suggest that failure is good for entrepreneurs. In this view, failure that comes early in a founder's career can teach them important lessons about doing business and harden them up for the next start-up attempt.

In the US, a tolerance for entrepreneurs who have gone bust or fizzled out is held up as a vital ingredient in the country's entrepreneurial culture, while Europe's stigma of failed business people is seen as a brake on economic growth.