This week in America, we celebrate the semiquincentennial birthday, our 250th birthday. Happy Birthday, America! We have made it this far. Do you think we can do it for another 250 years? One of the reasons we will probably succeed is that America is a great place to be an entrepreneur. It is by far the greatest country on Earth to start a business. This week, I am showing you different reasons why. I'll give you another reason right after this.

One of the greatest things about America is that you can have a business failure and still get back up and try again. In Japan, it's the exact opposite: one business bankruptcy, and you are done. But in America, we can have second acts. We have many successful entrepreneurs who had failures first, and that's one of the reasons America is such a great place to be an entrepreneur.