ALONG with the technological advancements, the entrepreneurship and business landscape has changed considerably around the world. In the United Kingdom in 2014, there has been a record number of start-ups set up, according to Startups.co.uk, with 581,173 businesses being registered with Companies House.
Are you thinking of setting up your own company? Or want to advance in your role in your current company? A master’s degree in entrepreneurship or an MBA with a focus on entrepreneurship may be what you may want to consider helping give a boost to your business and management skills.
The changes on the jobs market, the changes in how people connect and communicate have also brought about changes in how people work. There are more and more examples of professionals who have decided to venture on setting up their own business. While ‘starting a business is easier, quicker and cheaper than ever thanks to new technology’ (according to the Chairman of the Centre for Entrepreneurs, Luke Johnson quoted on Startups.co.uk), according to a research by RSA quoted by the Telegraph, half of the UK start-ups fail within five years. This is a sign that such projects need well prepared people to focus on long term planning, operations, managing day to day business but also innovation and motivating and engaging employees.
What skills can you earn with an entrepreneurship focused degree?
The goal of a master's in entrepreneurship or an MBA with a focus on entrepreneurship is to prepare innovative professionals to become entrepreneurial leaders and, in many cases, in a global setting. The courses taught range from innovation management, organisational management, finance, business creation and development, marketing for entrepreneurial firms to project management. Their aim is to provide you with the necessary entrepreneurial skills to succeed in a rapidly changing globalised world, granting both professional and personal development.
The programs put emphasis on the development of personal communication skills, team-working and people management as well as presentation skills, useful for future entrepreneurs, who have to be well prepared to convince investors, attract new business and improve their probability of success.
What degrees can you opt for?
Choosing the right program to lead you to your future business career is the most important step before embarking on this journey, so knowing the opportunities available is the first step to take. There is a great variety of business and management related and entrepreneurship related master's and MBA programs offered by business schools across Europe. If you are considering the UK, for instance, London School of Business offers master's courses in Strategy and Entrepreneurship, and Organisational Behaviour; Saïd Business School at the University of Oxford gives you the chance to study Organisational Leadership, and Strategy and Innovation. You may also want to check out a master's focusing on Management Entrepreneurship and Innovation, at the University of Birmingham Business School, Manchester Business School, Imperial College Business School, Nottingham University Business School, or the Innovation, Creativity and Entrepreneurship Master at Newcastle University Business School. If you are looking for an MBA with focus on Entrepreneurship check out the program offered by Nottingham University Business School.
If you are looking for an international learning experience and want to study outside of the UK you can check out master's degrees or MBAs with a focus on entrepreneurship like the Global Entrepreneurship Program offered by the EMLYON Business School in France, or the Advanced Master in Innovation and Entrepreneurship offered by Solvay Business School in Belgium.
Through such internationally focused programs, you get to gain competitive language skills, you manage to expand a global network, you get to understand and value the different cultures. You learn how to work and live in a multicultural setting and this helps in your business, not just in local markets but in global business cultures.
What career and business opportunities are there?
The UK, with especially London, but also Manchester and Birmingham, is a real magnet for prospective businessmen. One of the biggest advantages of studying a business and entrepreneurship focused degree is the practical aspect and the connection with the professional world.
Last year, venture capital funding in tech companies rose by 78 percent, according to the 2014 European Tech Report by CB Insights. Based on the report, the UK is leader in Europe, with a total of 225 deals, followed by Germany, with 154, and France, with 63.
There are plenty of career opportunities and a lot of companies organise start-up competitions or incubators to help support new enterprises. To give you some quick examples, check out the London Google Campus, where entrepreneurs go to learn, share ideas, present their business and attract investors or business partners; or accelerators and incubators such as Seedcamp, Microsoft Ventures, Tech Stars, JLAB or Wayra by Telefonica.
Universities and business schools themselves also help students connect with companies and investors through their campus events, incubators and technology and innovation centres.
Such a degree will help you sharpen your logic skills and develop strategic thinking in order to make a change within an organisation, by bringing innovation in, or even set up your own business. You will be given the necessary conditions and framework to develop your entrepreneurial skills and make your business ideas come true.
If you are interested in entrepreneurship focused degrees, check out the entrepreneurship and innovation programs available at institutions in the UK and the rest of Europe in the online directory at QS Course Finder.
