Four factors need to be considered in relation to the role of enterprise in society. First, the policy objectives need to be clearly understood within the national context. Is the aim to alleviate poverty, to create employment, to reduce or replace state activity, to replace declining industries, or to increase innovation and value-added activity? All of these may be desirable but they require different strategies, policies and delivery mech¬anisms in different contexts. Entrepreneurship is understood and works differently in various cultures, so it is necessary to beware of over-simplifying the issues or ignoring the underlying reality in a national economy. There are many societies where enterprise, small business and trading activity has always been a way of life and does not require