Education and entrepreneurship Atiqullah Nabizada

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Category: Education
     
 

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The relationship between education and entrepreneurship, however, is far more complex. On the one hand, education can help those future entrepreneurs who don’t give up on it. A 2009 study, which looked at 20 years of American data, found significant returns to education – as measured by increased average income for every year of schooling completed – for entrepreneurs

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Education and entrepreneurship - Atiqullah Nabizada The relationship between education and entrepreneurship however is far more complex. On the one hand education can help those future entrepreneurs who don’t give up on it. A 2009 study which looked at 20 years of American data found significant returns to education – as measured by increased average income for every year of schooling completed – for entrepreneurs. Equally striking these returns were higher for entrepreneurs than employees even after taking into account any disparities between the two groups. Those working for themselves the authors argue have more flexibility in how they use their human capital which leads to better returns on it. On the other hand the same study found that more years of formal education in the United States made individuals less likely to want to become entrepreneurs. Worse still the success of education systems worldwide in inculcating skills apparently has a negative relationship with how able graduates think they are to start a business. The success of entrepreneurship education obviously depends on the programme in question but far from Europe a Johannesburg secondary school is already showing the substantial impact it can have. The African Leadership Academy teaches Entrepreneurial Leadership as a core curriculum subject along with other traditional ones. Moreover in their final year students are required to design and deliver a service-based learning programme. The school is far from representative – it selects 15-19 year-old students from across the continent who have demonstrated leadership potential and an entrepreneurial spirit – but the impressive results so far show just how quickly education including entrepreneurship can have positive outcomes. Some 97 of students go on to university but they also begin to drive change right away.

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Although the first class graduated only in 2010 alumni have already created 38 non-profit and for-profit enterprises including ones such as Emo Art – an NGO which uses the arts to empower young girls in their communities – and Aroma Emporium – a commercial provider of beauty products which secured a supplier deal with Palmolive an American consumer products company.