Although there is money to be made on the edge, most entrepreneurs prefer political stability and the rule of law.

The past, present, and future of South Africa may prove the perfect example.

It was not the ANC but South Africa’s business community that finished off apartheid – by financing the “yes” vote in the referendum to abolish it.

It was rewarded by a period of prosperity and stability under President Mandela. However, concerns about the longer term prospects for business in the “rainbow nation” have grown under President Mbeki, and next year may see the even greater uncertainty of a President Zuma.

A glance northward, to Zimbabwe, reminds South African entrepreneurs how easily and swiftly even a strong economy can be ruined by corrupt, statist politicians.

Alongside political concerns are worries about the personal safety of those doing business in South Africa. Crime is a serious threat to the economy. The murder of historian and entrepreneur David Rattray was a particularly significant moment.

As a place to do business, South Africa retains several big advantages: wonderful natural resources, a real entrepreneurial ethos among significant sections of the population, and the rule of law, still administered by a fairly honest system.

Yet it remains an edgy place for entrepreneurs.