Six reasons why entrepreneurial education in schools is critical

During my time working in an adult incubator program, it struck me just how vital it is to introduce entrepreneurial concepts earlier in life.

When stakes are lower and creativity hasn’t been stifled, youth can experiment and innovate without the fear of not being able to feed their families or of losing their homes. This is the perfect time for young minds to build confidence and agency, turning genuine concerns about our world into positive action. I call this transformative perspective ‘seeing problems as opportunities through entrepreneurship’.

For the past nine years, I’ve had the privilege of working with schools across Australia, embedding entrepreneurial education programs. These programs, a blend of design thinking and lean startup methodologies, aim to equip youth with an entrepreneurial mindset, skillset, and toolset.

Here’s what I’ve learned from over 1,500 schools about why they are embracing this transformative approach to education. There are six compelling reasons why providing our schools and educators with the capacity to embed entrepreneurial education leads to exponential good. It’s a powerful lever we should all get behind.

Good for students

Entrepreneurial education is much more than ‘kids running lemonade stands’ (in fact the Teens in Business Awards shows teens are capable of much more than that); it’s about developing critical life skills like creativity, communication, resilience, problem-solving, and leadership. Students get to tackle real-world problems, making their learning relevant and engaging. This approach shifts away from traditional, rigid teaching methods, adapting to different learning styles and opening new career pathways. Students like Eva tell us that “I came in thinking the problems of the world were insurmountable, I leave with the genuine feeling I can make a difference”.

Key benefits for students:

• Engagement: Aligns with their passions, making learning more engaging.
• Workforce skills: Builds essential skills such as critical thinking and problem-solving.
• Agency: Encourages hands-on learning and student agency.

Good for teachers

For teachers, entrepreneurial education offers autonomy and innovative teaching methods, reinvigorating their passion for the profession. It presents opportunities for professional growth and collaboration, enhancing job satisfaction and addressing teacher burnout by introducing more creative and flexible curriculum options. At a recent consulting session we asked educators what they were most excited about when introducing entrepreneurial education. They replied, “Creating better connections with my students around topics that interest them”.

Key benefits for teachers:

• Job satisfaction: Increased sense of purpose and fulfillment.
• Professional development: Enhanced opportunities for growth and collaboration.
• Innovation: Opportunities for creativity in teaching.

Good for schools

Schools benefit by fostering an entrepreneurial culture that encourages innovation, collaboration, and positive engagement. This approach transforms schools into hubs of innovation, integrating real-world projects and strengthening connections with local industries and communities. Schools are hungry to build local partnerships and become part of the entrepreneurial ecosystem.

Key benefits for schools:

• Culture: Creates a dynamic and collaborative school culture.
• Community ties: strengthens ties through real-world projects.
• Innovation: enhances the school’s role as a center for social impact.

Good for the economy

Entrepreneurial education equips students with critical skills for the future workforce, bridging the skills gap and preparing them for jobs that may not yet exist. It fosters innovation and entrepreneurship, contributing to economic growth and reducing youth unemployment by encouraging self-employment and ‘intrapreneurship’.

Key economic benefits:

• Future jobs: Prepares students for a rapidly changing, tech-driven world.
• Innovation: Fosters creativity and drives economic growth.
• Employment: Reduces youth unemployment through entrepreneurial ventures and intrapreneurial youth creating value within existing organisations.

Good for people and community

This education model promotes social entrepreneurship, empowering students to address social and environmental challenges. It encourages a purpose-driven mindset, focusing on creating positive societal change and building engaged, socially conscious citizens. Entrepreneurial education can also be incredibly inclusive at it allows youth to tap into lived experiences and find problems they uniquely positioned to solve (eg youth with disabilities, regional and rural-based youth, First Nations youth or a gender lens).

Key community benefits:

• Social responsibility: Promotes civic engagement and social responsibility.
• Local solutions: Helps students develop solutions to local and global challenges.
• Youth enterprises: Strengthens communities through youth-led social enterprises.

Good for the planet

Finally, entrepreneurial education fosters innovation and sustainability. Students engage in hands-on projects to create eco-friendly solutions and develop long-term commitments to environmental sustainability, preparing them to be future leaders in green and circular economies. In any of our open programs, on average 1:4 groups will focus on the environment as the issue they care about the most.

Key environmental benefits:

• Sustainable Solutions: Encourages eco-friendly innovations.
• Commitment: Builds long-term commitments to sustainability.
• Green careers: Prepares students for careers in green and circular economies.

For more information head to www.youngchangeagents.com. 

If you know any young entrepreneurs or support young people that deserve to be recognised, nominate them for the Teens in Business Awards 2024 Entries are open till November 13.

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