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© Lee Harvey 2018, 2019, 2024, page updated 8 January, 2024
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At the time of the 2004 version of the ESECT tools, the idea of covering entrpreneurship as part of employability was in its embryonic stages. The following is the rationale at the time.
Two main factors lie behind the need for higher
education to take entrepreneurship in its various forms more
seriously.
The first factor is the overwhelming importance
of single person enterprises to the UK economy, such enterprises
usually being defined as being run by entrepreneurs. In 2002,
68% of all companies in 2002 were single-person companies,
totalling 2.6 million companies. Sole-trader status, involving
a single entrepreneur, is thus numerically the dominant type
of business organisation. One of the outcomes of higher education
is the preparation of graduates to participate fully in the
world of work, so higher education needs to recognise and address
the significance and incidence of self-employment in the development
of employability aspects of the curriculum.
Second, the education system's potential contribution
to making Britain a more entrepreneurial society could be
significant but is currently neglected (HM Treasury, 2002).
This is despite around 45% of graduates being potentially
interested in establishing their own business. This significant
graduate interest in business start-up has to be cultivated
and assisted to reach fruition. More opportunities and support
is necessary to establish grasduate small businesses. The
range of programmes and awards leading to awards in enterprise
and entrepreneurship, whilst impressive, is still relatively
small, and currently (2004) to be found in less than a third
of higher education Institutions.
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