Entrepreneurship courses are becoming more common in K-12 schools across the country, and the benefits are clear. Whether it’s for students who have a strong passion for entrepreneurship and wish to create their own businesses, or students who show a lack of passion in any school subjects… here are a few reasons why teaching entrepreneurship could shape their lives for the better.
Entrepreneurship nurtures unconventional talents and skills
Entrepreneurship often takes skills and intuition that might otherwise not be encouraged in a traditional classroom. According to Entrepreneur, founder of Renzell and other businesses Bo Peabody mentions how entrepreneurs tend to be B students. They are perfectly good at doing many things, but do not excel at one certain subject.
However, the ability to think about and do a broad variety of tasks is one of the skills it takes to start and run a business.
Entrepreneurship helps people create better lives for themselves
Entrepreneurship has helped minorities and women create better lives for themselves and their families.
Fortune discusses how from 1997 to 2015, the number of businesses owned by African American woman increased 322 percent, making them the fastest growing entrepreneurial group in the US. The number of businesses owned by women increased by 74 percent between 1997 and 2015.
Entrepreneurship is for those who are persistent risk-takers, no matter who you are.
Entrepreneurship prepares students for 21st century work skills
Even if students don’t plan to be entrepreneurs or have a career in business, according to The National Business Education Association, studying business helps students prepare for college and their career.
Within business education, students learn about accounting, business law, communication (such as networking), marketing, personal finance, and more. These skills are all important for a person’s career.
Entrepreneurship promotes social and mental well-being
According to a study done at the University of Pennsylvania’s Wharton School of Business, there is a strong correlation between entrepreneurship and happiness. 11,000 graduates of Wharton’s MBA program were asked to rate their happiness with their overall career, current job, and work-life balance. While only about 20 percent of these graduates were running their own businesses, this 20 percent ranked themselves happier than all other professions regardless of how much money was made.
This study helped show that, despite the risks that can come with starting a business, there can also be some huge rewards.