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Blog, Enterprise Education, Inclusive Entrepreneurship

Why SME Owners Should Invest in Entrepreneurship Education—Not Just for Themselves, But for Their Teams

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Small and medium-sized enterprises (SMEs) are the heartbeat of every economy. They employ more than half the world’s workforce, drive innovation, and hold deep community roots. Yet many SME owners spend their days firefighting—caught in the demands of daily operations, chasing cash flow, managing staff, navigating regulation, and trying to stay one step ahead in a rapidly shifting world.

In the middle of all this, entrepreneurship education might sound like a luxury—something for startups, students, or aspiring founders. But here’s the truth: entrepreneurship education could be one of the most valuable investments an SME owner can make—not only for themselves, but for their team, their growth, and their long-term survival.

In fact, when SME leaders adopt an entrepreneurial mindset and embed that thinking across their organisation, they don’t just adapt to change—they lead it.

Let’s explore how.

Rethinking Entrepreneurship: It’s Not Just for Startups

First, we need to expand the definition.

Entrepreneurship is not just about founding the next tech unicorn or pitching investors in Silicon Valley. At its core, entrepreneurship is about spotting opportunities, solving problems creatively, creating value, and managing risk with intent.

It’s just as relevant to a five-person construction firm as it is to a fintech startup.

Entrepreneurship education, then, is not about teaching people how to launch new businesses—it’s about embedding the skills, habits, and strategies that help SMEs survive, adapt, and thrive in a changing market.

It helps you ask better questions:

  • How do we add more value to our customers?
  • What new revenue streams could we unlock?
  • Where are we wasting time or money?
  • How do we build a culture of innovation inside our team?

The Business Case: Proven Benefits of Entrepreneurial Thinking in SMEs

1. Improved Strategic Decision-Making

Entrepreneurship education trains business owners to step back from the day-to-day and think strategically. It introduces frameworks like Lean Startup, Business Model Canvas, or Design Thinking—tools that help you test ideas faster, reduce waste, and make data-informed decisions.

A study by the Kauffman Foundation found that SME leaders who had undergone entrepreneurship training made faster and more effective decisions around pivoting, product development, and resource allocation.

The benefit? You spend less time stuck—and more time steering.

2. Greater Adaptability in Uncertain Markets

Markets change. Technology evolves. Customer behaviour shifts. SMEs that survive aren’t the biggest or best-funded—they’re the most adaptable.

Entrepreneurship education helps you build that adaptability into your business DNA. You learn how to prototype new services, experiment with pricing models, diversify offerings, and respond to feedback quickly—without risking your core business.

During COVID-19, SMEs with prior exposure to entrepreneurial learning were more likely to adapt their models—shifting to online sales, developing new delivery methods, or entering adjacent markets.

3. Enhanced Team Performance and Innovation

Entrepreneurial education isn’t just for the boss. When your team learns entrepreneurial thinking, something powerful happens:

  • Staff take more initiative
  • Problems are solved internally rather than escalated
  • Creativity flourishes
  • Customer service improves

Imagine your receptionist suggesting a new way to automate bookings. Or your warehouse staff proposing a system that cuts delivery time by 20%. When employees think like entrepreneurs, they look beyond tasks—they look for opportunities.

Fostering what’s called “intrapreneurship” within your team can dramatically improve engagement, retention, and innovation. And it starts with how you train and empower them.

4. Increased Business Resilience

Entrepreneurship education teaches you how to handle failure, mitigate risk, and bounce back. These are not abstract skills—they are survival tools for SME owners.

The UK’s Enterprise Research Centre found that SMEs run by owners with entrepreneurship education were more likely to bounce back from shocks, avoid closure, and retain customers—even when facing industry disruption or economic downturns.

Resilience isn’t just emotional—it’s strategic. And it can be learned.

Common Myths That Hold SME Owners Back

Let’s clear up a few misconceptions:

Myth 1: “I’ve already been in business for years—I don’t need more education.”
Even the most experienced business owners can become trapped in routines or outdated assumptions. Entrepreneurship education challenges your thinking, introduces fresh tools, and helps you rediscover curiosity and innovation.

Myth 2: “Entrepreneurship education is for big companies or startups.”
It’s for anyone who wants to grow, adapt, or innovate. In fact, smaller businesses often benefit most—because they can implement change faster and test new ideas without layers of bureaucracy.

Myth 3: “I don’t have time.”
Many entrepreneurship programmes are designed for busy owners—offered as short courses, workshops, or even microlearning modules that take 15 minutes a day. Think of it as time spent working on your business, not just in it.

What Kind of Education Should You Look For?

The best entrepreneurship education for SME owners is:

  • Practical – Focused on real-world application, not just theory.
  • Flexible – Fits your schedule and business demands.
  • Interactive – Offers community, mentoring, or peer exchange.
  • Affordable – Often supported by local authorities, business support organisations, or grants.

Look for programmes from:

  • Local enterprise partnerships (LEPs)
  • Chambers of commerce
  • Adult learning colleges
  • Online platforms like Coursera, FutureLearn, or Enterprise Nation
  • Universities offering executive education for SMEs

Also consider bringing it in-house: host a team “innovation sprint” or sponsor key staff to complete a short enterprise training programme. The ROI will surprise you.

Beyond Profit: Entrepreneurship as a Culture

The real benefit of entrepreneurship education isn’t just improved margins—it’s a culture shift.

It encourages openness to ideas, comfort with ambiguity, and a willingness to challenge the status quo. It makes your business more proactive, less reactive. More agile, less fragile.

It also re-engages you as a leader. It reminds you why you started in the first place—not just to survive, but to build something of value.

And in a world where AI, global competition, and economic volatility are constant forces, that mindset is your greatest asset.

Final Thought: What’s Your Business Learning?

Your business is learning all the time—whether you’re guiding it or not. The question is: are you learning with it?

Entrepreneurship education is not about stepping away from your business. It’s about stepping into a better version of it. One where you lead with clarity, adapt with purpose, and grow with intention.

If you’re a small business owner ready for your next stage—don’t just hire more people or buy more equipment. Invest in what matters most: your own thinking, and that of your team.

Because in business, just like in life, your greatest competitive advantage is the ability to learn faster and apply smarter.

References

1. QAA: Enterprise and Entrepreneurship Education Guidance (2018)

A comprehensive framework for UK higher education providers to embed entrepreneurial learning across curricula.
🔗 Read the full guidance

2. Advance HE: New Framework for Enterprise and Entrepreneurship Education

An updated framework supporting institutions in developing enterprise education strategies.
🔗 Explore the frameworkAdvance HE

3. Enterprise Educators UK: Policy Resources

Guidance and policy documents for enterprise educators across the UK.
🔗 Access policy resourcesEnterprise Educators UK

4. Evaluation of Enterprise Education in England (DfE Research Report)

An evaluation highlighting the impact of enterprise education in English schools.
🔗 Read the reportGOV.UK

5. The Impact of Enterprise and Entrepreneurship Education on Regional Development

A study analyzing how enterprise education influences regional economic growth.
🔗 View the studyGOV.UK

6. Entrepreneurship Education in the United Kingdom

An overview of the evolution and current state of entrepreneurship education in the UK.
🔗 Read the article

7. HEPI: Evolution of Devolution in Higher Education Policy

An analysis of how higher education policies have diverged across the UK’s devolved nations.
🔗 Download the reportHEPI+1HEPI+1

8. GOV.UK: Improving Entrepreneurship Education

Recommendations to the Prime Minister on enhancing entrepreneurship education in universities.
🔗 Read the correspondenceGOV.UK

9. Learning and Progression in Entrepreneurship Education (Wales)

Guidance on embedding entrepreneurship education within the Welsh curriculum.
🔗 Access the document

10. Enterprise Education Impact in HE and FE – Final Report

An evaluation of enterprise education’s impact in higher and further education institutions.
🔗 Read the final report

11. The Impact and Effectiveness of Entrepreneurship Policy (Nesta)

An examination of publicly supported policies for entrepreneurship development.
🔗 View the working paperNesta Media

12. The Value of Enterprise and Entrepreneurship Education (British Council)

Insights into the significance of embedding entrepreneurship education in vocational training.
🔗 Explore the resource

13. Entrepreneurship Education in the UK: Impact and Future Research Directions

A review of the effectiveness of UK’s undergraduate entrepreneurship education programs.
🔗 Read the blog postDr David Bozward

14. Entrepreneurship and Enterprise Education Policy for the English Education Ministry

A proposed policy framework aiming to foster entrepreneurial mindset among students.
🔗 View the policy proposalDr David Bozward

15. Enterprise and Entrepreneurship Education Guidance (UWE Draft)

Draft guidance intended to inform and promote the development of enterprise education in higher education.
🔗 Access the draft guidancewww2.uwe.ac.uk

16. The History of Entrepreneurship Education in the UK 1860-2020

A historical analysis of the development of entrepreneurship education in the UK.
🔗 Download the paper

17. Entrepreneurship Policy and Practice Insights – ISBE

Insights into current policy and practice issues related to entrepreneurship research.
🔗 Explore the insightsQuality Assurance Agency+4Enterprise Educators UK+4Startups Magazine+4

18. The Innovation and Entrepreneurship Education in UK and China

A comparative study on innovation and entrepreneurship education between the UK and China.
🔗 Read the article

19. University of Huddersfield – REF Impact Case Studies

Case studies demonstrating the impact of entrepreneurship education on policy shaping.
🔗 View the case studies

20. The Case for the Devolution of Higher Education Policy – HEPI

An argument for devolving higher education policy to better address regional needs.
🔗 Read the articleHEPI+1HEPI+1

Blog, Enterprise Education

Rolling the Dice on Entrepreneurship in Universities

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Universities in the UK often struggle with entrepreneurship. It doesn’t fit neatly into traditional academic structures—it’s not a defined career path, it’s taught like a vocational add-on, and worst of all (to some), entrepreneurial students tend to challenge authority. But in today’s unstable higher education sector, that might be exactly what’s needed.

I once spoke with Professor Allan Gibb about this disconnect. His model (Figure 5 in Gibb, A., Haskins, G., & Robertson, I. (2009). Leading the entrepreneurial university. University of Oxford. of the entrepreneurial university still holds true, but implementation varies wildly. Vice Chancellors don’t seem to know where entrepreneurship fits, so they stick it wherever there’s space—like rolling a dice.

So, I made a literal dice: six faces, six random “homes” for entrepreneurship.

  1. Research & Enterprise – Often tied to funding pots like HEIF.
  2. Employability & Careers – Think Graduate Businesses and initiatives like Northumbria’s.
  3. Innovation & Enterprise – See UCL’s Enterprise or Birmingham’s Collaborate.
  4. Business Schools – Sometimes embraced, often sidelined.
  5. Institutes or Centres – Coventry University’s Enterprise unit is one model.
  6. Technology Transfer – Like Newcastle’s IP and licensing efforts.

The randomness highlights the problem—and the opportunity. Maybe it’s time to stop rolling dice and start placing strategic bets.

Lets quickly look at each and see what the pro’s and cons of each are:

1. Research & Enterprise

Pros: Strong alignment with funding (e.g., HEIF), links to knowledge exchange, impact, and spinouts.
Cons: Tends to favour staff-led innovation over student engagement; risk of entrepreneurship becoming a reporting metric which leads to cash to pay for other things.

2. Employability & Careers

Pros: Focused on graduate outcomes, enterprise skills, and real-world readiness.
Cons: Can reduce entrepreneurship to CV-enhancing workshops, lacking depth and strategic investment. Focused B3 Progression measured at 15 months after completion, so long term entreprneurial development is not supported.

3. Innovation & Enterprise Units

Pros: Dedicated structures (e.g., UCL, Birmingham) often offer incubators, funding, and expert support.
Cons: Can be isolated from the academic curriculum and suffer from poor integration across faculties.

4. Business Schools

Pros: A natural home—entrepreneurship is a recognised academic discipline with research, teaching, and networks.
Cons: Can become too theoretical, divorced from practice, or siloed from other departments. Provides many students who can create a business model but never be able to execute it.

5. Institutes or Centres

Pros: Flexible and agile, like Coventry’s model; can act as cross-university hubs.
Cons: Vulnerable to funding changes and may lack influence in university decision-making.

6. Technology Transfer Offices

Pros: Ideal for commercialising university research and developing staff-led startups.
Cons: Student entrepreneurship is often ignored; focus is on IP, patents, and licensing rather than broader enterprise education.

Each model has its merits and its blind spots. But the real issue is that entrepreneurship in higher education still feels like an afterthought—tacked onto existing structures rather than strategically embedded.

So maybe it’s time to stop rolling dice and start making intentional, informed decisions.

Where does entrepreneurship live in your institution—and more importantly, where should it?

Blog, Entrepreneurial Mindset, Resources

7 Books every start-up entrepreneur should read

There is a great number of books out there which is aimed at Entrepreneurs and the skills and techniques they need. However if you are starting a business you don’t have time to read too many, so I have limited it to seven, which you should be able to read in one week. Enjoy!

Entrepreneur Revolution: How to Develop Your Entrepreneurial Mindset and Start a Business That Works by Daniel Priestley

I very much agree with the theme of this book “The age of the entrepreneur, the agile small business owner, the flexible innovator. The days of the industrial age are over.” and every student I meet, its about developing this mindset. This book should mainly provide some motivation and inspiration for your plunge into the next books.

The Lean Startup by Eric Ries

Building a business is no longer about “the business plan” which is cast in stone, its about doing and then creating small changes or pivots to the plan as you move forward. He goes over the a number techniques an entrepreneur can use in order to create a business.

Business Model Generation by Alexander Osterwalder

Great for the visual entrepreneur or those not interesting in writing a 50 page business plan. The book teaches us the right way to create a visual business plan and act on it. With pictures, graphs and timelines, this book is a must-have for every visionary young entrepreneur.

How to Win Friends and Influence People by Dale Carnegie

This classic book will turn your relationships around and improve your interactions with everyone in your life. Business is all about relationships, employees, investors, partners and customers all need you to be the best at dealing with their interactions.

Purple Cow by Seth Godin

Godin is one of the greatest entrepreneurial minds in the world and you should be taking a look at www.sethgodin.com. In Purple Cow, he advocates building something so amazing that people can’t ignore you and then allowing them to be your brand ambassadors. There are a lot of great case studies in this book.

The 7 Habits of Highly Effective People by Stephen Covey

While working on his doctorate in the 1970’s, Stephen R. Covey reviewed 200 years of literature on success. He noticed that since the 1920’s, success writings have focused on solutions to specific problems. In some cases such tactical advice may have been effective, but only for immediate issues and not for the long-term, underlying ones. This is why a lot of entrepreneur books have case studies or information which is of little help to you in your situation.

Covey presents an approach to being effective in attaining goals by aligning oneself to what he calls “true north” principles of a character ethic that he presents as universal and timeless.

The Psychology of Selling by Brian Tracy

Every entrepreneur knows that the key to a successful business is good sales technique. Not only do you have to sell your product, but you also have to sell yourself and your idea.

This book gives you valuable information and strategies about how to make more selling by focusing on one thing – the person. Young entrepreneurs tend to forget the basics of selling and jump right over to getting results, but in order to get results, you need to know the basics. Brian Tracy goes over those major points thoroughly.

Enterprise Education

The trinty structure for an entrepreneurship centre

Last week I attended GCEC 2014 and was able to spend time with practitioners of Enterprise and Entrepreneurship. It was a very worthwhile experience, especially when so many of them were from the USA which have a much more advanced culture of enterprise.

It became clear to me that there are three elements for a successful entrepreneurship centre within a University:

Entrepreneurship Research

Everyone knows if you start a business in Silicon Valley its great for technology businesses and the eco-system, network and financial institutions are set up to start, grow and IPO these businesses. This is a one place and the rest us don’t live there or want to start a high tech high growth business. This eco-system DOES NOT exist in any other part of the world. Cambridge also has its own eco-system. So we would expect each location, cluster and university to have a set of features that facilitate the growth of certain businesses? We would expect the university to have researched these and further more be able to articulate this through its research papers, education programmes and practical support for startups and growth businesses.

Enterprise & Entrepreneur Education

The core business of a university is education. We are experiencing great changes in the higher education environment and universities need to react in real time to the needs of their students and business community. The majority of universities in the UK get more revenue from CPD training than research grants. This is why local business is so important to them, as it provides a great sustainable revenue stream and also the opportunity to understand their local business needs, which helps feed the research. It also brings educators from cross disciplines together which is needed to build robust community focused institutions.

Enterprise Practice

The development of students into entrepreneurs and the development of entrepreneurs to leaders of high growth businesses is the most important part of the trinity. It enables the university to substantiate its research in the ‘real world’ environment and provide a practical outlet for the costly education resources. Moreover, it provides the feedback loop which all research and educators need to contextualize the theory.

I know some universities in the UK have some of these parts, but there is not one University in the UK, which ensures these three parts work together for the common development of the university and its community.

Looking forward to hear from those that think they do!!!

Blog, Enterprise Education, Skills Development

Little is more in Enterprise Support

When you are starting a business the more help and support you get the better, you would expect so.

However, after some years of helping and supporting startups, I am starting to see this is not always the case.

I guess its the difference between support and Intervention. To support someone, especially with mentoring and signposting which allows the person to find their way (with a little more direction) and   learn the skills and network required to manage their business is the right thing to do.

Its when the support becomes intervention that when the entrepreneur stops being the person in control and the support organisation does. This is when you have to do 50 hours doing this, sign all these forms and the process you will follow to make your business  is this.

This is wrong!

Everyone learns to be a entrepreneur differently, because they HAVE to be learn to be an entrepreneur, to solve problems, to look at the world in a new light of opportunities.

The problem these organisations have is that governments like a controlled process. They provide contracts to build bridges, its take some many weeks and will cost some much money. However, stating we can make some many businesses in so many weeks is not such a quantifiable statement. The process of starting a business normally starts many years before the person makes this statement. It may start with Dragon’s Den or The Apprentice in 10 grade. So the only thing you are really doing is counting those who have already spent many years deliberating this step.

The best entrepreneur support organisations do only ONE thing, they create an amazing network of people who all benefit from being part of it. This is because:

  1. Co-founders can be found in your network
  2. Mentoring can be found in your network
  3. Resources can be found in your network
  4. Funding can be found in your network

So before you start out in 2013, ensure you have the support network around you.