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Entrepreneurship By: Caitlin and Neal 9 th March 2012
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Discussion Plan Who are entrepreneurs? Entrepreneurship The
governments commitment Business incubators Entrepreneurship linked
into education Class Activity
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What is an entrepreneur? An entrepreneur is someone with a new
venture, project and is usually associated with creative thinking,
driving innovation and championing change. Boddy (2008:6)
Entrepreneurs use innovation to exploit or create change and
opportunity for the purpose of making profit. They do this by
shifting economic resources from an area of lower productivity into
an area of higher productivity and greater yield, accepting a high
degree of risk and uncertainty in doing so. Burns (2011:13)
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Entrepreneurship the mind-set and process needed to create and
develop economic activity, blending risk-taking, creativity and/or
innovation with sound management within new or an existing
organisation European Commission (2004) Entrepreneurship,
innovation and enterprise National Centre for Entrepreneurship in
Education attributed ~68.3 million to the UK economy
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What do you think?
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Governments Commitment New Enterprise Allowance Scheme: Weekly
allowance worth 1,274 Start-up loan 1,000 Mentoring support
Enterprise Investment Scheme: Small higher-risk trading companies
Increase tax relief to 30%
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Governments Commitment Continued Increase Enterprise Zones:
30,000 new jobs by 2015 Birmingham, Manchester, Newcastle and
Merseyside 100% business rates relief Banks: 76 billion worth of
new credit available to SMEs
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Can government policy work? Entrepreneurial activity = economic
growth and development Is government able to positively influence
entrepreneurial activity? One policy does not fit all Financial
support = negative impact? Enterprise Zones do they really
work?
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Can government policy work? Enterprise Zones: Stimulate rapid
investment Unsuccessful in 1980s 80% of jobs created taken from
elsewhere Ineffective at sustainable economic growth In 1980s cost
23,000 per job created
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Business Incubators (BI) Established in 1959 New York 300 BIs
in the UK Average 167 jobs and 30 businesses per unit 98% success
rate Slight impact the business incubator seeks to effectively link
talent, technology, capital and know-how in order to leverage
entrepreneurial talent and to accelerate the development of new
companies Smilor and Gill (1986)
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The Department for Business, Innovation and Skills (BIS) Who
are they? Enterprise Directorate Aims: Increase enterprise within
schools University Enterprise Networks National Centre for
Entrepreneurship in Education Increase women entrepreneurs Global
Entrepreneurship Week
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Educating Enterprise: National Association of College &
University Entrepreneurs Aims: Sustainable development Inspire,
educate and train Link students with entrepreneurs Support
student-led enterprise initiatives We want to grow the next
generation of entrepreneurs by ensuring that young people get
hands-on experience of enterprise at college and university. I am
pleased to offer my support to NACUE and its partners as they drive
forward this project to give students valuable experience that
could help them set up their own businesses in the future. Mark
Prisk Minster for Business and Enterprise (NACUE, 2011)
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Educating Enterprise: National Centre of Entrepreneurship in
Education 2004 Coventry University Technology Park Programmes and
projects cultivating entrepreneurship Leadership and Management
Academic environment Students Graduates Collaborate with partners
and organisations
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Educating Enterprise: National Centre of Entrepreneurship in
Education Aims: Opportunities Influence environment Convert intent
and aspirations Deliver impact 17:1 return ratio 27,000 graduate
members 465 students started businesses 14.03m gross value added
3,558 graduates enrolled in 2010 1379 new business by 2011
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Overview Entrepreneurship is the mechanism through which
economic growth takes place. Minniti (2008:789) Government policy -
one size does not fit all Business incubators support systems, but
do they go beyond that? NCEE and NACUE collaborating with
government and organisations
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What is the best way to promote entrepreneurship?
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References BIS. (2011) About Us. [Online] Available from:
http://www.bis.gov.uk/about [Accessed
28/02/2012].http://www.bis.gov.uk/about BIS. (2011) Enterprise
& Business Support. [Online] Available from:
http://www.bis.gov.uk/policies/enterprise-and-business-support
[Accessed
28/02/2012].http://www.bis.gov.uk/policies/enterprise-and-business-support
BIS. (2011) Entrepreneurial Culture. [Online] Available from:
http://www.bis.gov.uk/policies/enterprise-and-business-
support/entrepreneurial-culture [Accessed
28/02/2012].http://www.bis.gov.uk/policies/enterprise-and-business-
support/entrepreneurial-culture Boddy, D. (2008) Management: an
Introduction. 4 th ed. Harlow: Pearson Education Limited. Burns, P.
(2011) Entrepreneurship & small business: start up, growth and
maturity. New York: Palgrave Macmillan. Dee, N.J., Livesey, F.,
Gill, D. and Minshall, T. (2011) Incubation for Growth: A review of
the impact of business incubation on new ventures with high growth
potential. NESTA Drucker, P. (1985). Innovation and
entrepreneurship. London: Heinemann. DWP (2012) The New Enterprise
Allowance (NEA). [Online] Available from:
http://www.dwp.gov.uk/adviser/updates/new-enterprise- allowance/
[Accessed
05/03/2012].http://www.dwp.gov.uk/adviser/updates/new-enterprise-
allowance/ Evans, T. (2012) A Saucy millionaire role model for
serial entrepreneurs. Entrepreneur. [Online] Available from:
http://www.entrepreneur.com/article/222602 [Accessed 05/03/2012].
http://www.entrepreneur.com/article/222602 HM Treasury. (2011) The
Government announces 11 new Enterprise Zones to accelerate local
growth, as part of the Plan for Growth. [Online] Available from:
http://www.hm-treasury.gov.uk/press_96_11.htm [Accessed
05/03/2012].http://www.hm-treasury.gov.uk/press_96_11.htm Li, W.
(2002). Entrepreneurship and government subsidies: A general
equilibrium analysis. Journal of Economic Dynamics & Control,
26(11), pp. 18151844. Minnit, M. (2008) The role of government
policy on entrepreneurial activity: productive, unproductive, or
destructive? Entrepreneurship Theory and Practice, 32 (5), pp.
779-790. NACUE Ltd. (2011) Government announces investment in
student entrepreneurs of tomorrow. [Online] Available from:
http://nacue.com/2011/11/government-announces-investment-in-student-entrepreneurs-of-tomorrow/
[Accessed 28/02/2012].
http://nacue.com/2011/11/government-announces-investment-in-student-entrepreneurs-of-tomorrow/
NACUE Ltd.(2011) NACUE. [Online] Available from :
http://nacue.com/.Last [Accessed 05/03/2012].http://nacue.com/.Last
NCEE (2012) Impacts of NCEE. [Online] Available from:
http://www.ncee.org.uk/impact_of_ncee [Accessed
01/03/2012].http://www.ncee.org.uk/impact_of_ncee Sissons, A. and
Brown, C. (2011) Do Enterprise Zones Work? The Work Foundation.
[Online] Available from:
http://www.theworkfoundation.com/assets/docs/publications/283_Enterprise%20Zones_24%20Feb_FINAL.PDF
[Accessed 01/03/2012].
http://www.theworkfoundation.com/assets/docs/publications/283_Enterprise%20Zones_24%20Feb_FINAL.PDF
Smilor, R. W. and Gill, M.D. (1986) The new business incubator:
linking talent, technology, capital and know-how. Lexington:
Lexington Books. Tamasy, C. (2007) Rethinking technology-oriented
business incubators: developing a robust policy instrument for
entrepreneurship, innovation, and regional development. Growth and
Development, 38 (3), pp. 460-473.