An entrepreneur is a person who makes money by founding and operating a business. Different people become entrepreneurs for different reasons. Some do it to earn extra income while they are employed and others do so to gain actualization in self employment. Some educational institutions and governments have introduced entrepreneurship courses in their educational systems to help students learn entrepreneurial skills. Entrepreneurship Education has been applied in various settings to achieve various objectives.
Teaching people innovative ways to make a living enables them to take control of their circumstances. In Tanzania, for example, entrepreneurship education is being used as a tool to empower women. Technically trained women, for example, struggle to find employment in a male dominated domain. The education is aimed at improving their self confidence and giving them a chance at becoming self reliant so that they are not totally dependent on employment. This form of education also builds up self-awareness. It provides a dynamic platform on which an individual can explore his strengths through practical application and not theoretical knowledge gained from basic education.
Entrepreneurship education teaches students to recognize and seize diverse opportunities for financial gain. This allows people to work in authentic environments that best suit them. As a result there is greater individual satisfaction as compared to conventionally employed workers. Market diversification increases a consumer’s options and allows for more dynamic competition.
Creation of Employment
Unemployment is a rampant problem in many societies. Entrepreneurship education aims at empowering people to create employment opportunities. The aim of this training is to enable these people to start the small and medium enterprises important in any country’s growth. This sector accounts for half the private workforce in the United States. Most people seeking employment depend on entrepreneurs to embark on new ventures and hire them.
Entrepreneurship education imparts qualities such as self motivation and financial responsibility. In addition this education empowers people to have self discipline since entrepreneurship involves taking well calculated risks. People who have gone through this kind of training are able to recognize opportunities. Entrepreneurship education also encourages innovation in the running of organizations.