NOVEMBER 30, 2023
Teaching Entrepreneurship Makes A Difference
Ever wondered if the fire of entrepreneurship is ignited by nature or nurture? A study by Babson College, a renowned business school, suggests that education plays a significant role in shaping future business owners.
The study, which followed 3,755 Babson alumni from 1985 to 2009, found that taking two or more core entrepreneurship courses significantly increased the likelihood of graduates pursuing entrepreneurial careers. This evidence supports the importance of teaching entrepreneurship.
Beyond the headline finding, the study revealed some other interesting insights:
- Gender Differences: Men were more likely than women to become entrepreneurs, highlighting the need for continued efforts to encourage female entrepreneurship.
- Parental Influence: Surprisingly, having entrepreneurial parents had no significant impact on graduates’ entrepreneurial aspirations.
- Full-Time Advantage: Full-time students were more likely to become entrepreneurs than part-time students, suggesting that immersive learning environments may foster entrepreneurial spirit.
- Graduate Degrees: Interestingly, holding an MBA or other graduate degree had no bearing on the desire to become an entrepreneur.
- Satisfaction Matters: High levels of job satisfaction were associated with a lower likelihood of wanting to pursue entrepreneurship.
This research offers valuable insights for both educators and aspiring entrepreneurs. For educators, it underscores the importance of integrating entrepreneurship education into curriculums. For aspiring entrepreneurs, it suggests that classroom experiences can be a valuable springboard for launching their ventures, while also helping them assess their own suitability for entrepreneurial life.
However, successful entrepreneurs do not need to have mastered all of the skills required to achieve their goals. The Sugimoto & Associates team specializes in supporting entrepreneurs through critical business milestones and is standing ready to help.