ABE is launching a research-led engagement campaign called ‘Business Stay-Up’ to raise awareness of the pressures and challenges businesses face as they seek to sustain and build upon start-up success. The campaign will also highlight the role that education can play in increasing the probability of sustainable entrepreneurship.
Business Stay-Up is a collaborative initiative backed by the British Government's All-Party Parliamentary Group (APPG) for Entrepreneurship, The Entrepreneurs Network (TEN), and the Centre for Education Economics (CEE).
The campaign will extend from Q2 to Q4 2018, with a programme of mainstream and social media engagement and APPG for Entrepreneurship events building momentum ahead of a parliamentary research report launch in Q3.
Why is Business Stay-Up a critical issue?
As a global leader in business education, ABE has found that governments worldwide have used different policy tools to increase entrepreneurship rates in their countries. This is a worthwhile goal. Recent research indicates that new businesses create a disproportionate share of new jobs.
However, more needs to be done to raise the probability of firm survival – or Business Stay-up. Of all firms started in the UK in 2010, only 41 per cent remained active five years later (ONS 2016) and there is a similar picture globally. We believe that future entrepreneurship policy should not merely focus on increasing the rates of entrepreneurship – but identify and stimulate factors that help to spur high-quality, sustainable entrepreneurship.
What are we doing?
Our report, Human Capital and Business Stay-up: How Education Can Increase the Probability of Firm Success will be a platform for media discourse, awareness raising, and potential policy development.
It’s true that business survival depends on a number of factors, but an expanding body of evidence suggests the growing importance of human capital, education and resources. In other words, education and skills are not only crucial for securing high rates of start-ups – but also to then help start-ups survive and grow into flourishing businesses.
ABE has commissioned research led by an independent think tank, the Centre for Education Economics (CEE). The Centre will survey evidence on the role of education and human capital in ensuring higher-quality entrepreneurship and business survival/growth around the world.
The report will examine the role of different types of education, including general human capital levels, entrepreneurship education, learning on the job, and business education. Data permitting, it may also empirically study the relationship between access to business education (and the share of managers with a business education) and various metrics of high-quality, sustainable entrepreneurship.
Armed with a compelling evidence base, the report will formulate relevant lessons for policymakers and stakeholders with the goal of stimulating higher rates of business survival and growth.
There will be three roundtable events in the House of Commons through the APPG for Entrepreneurship. These will be will be led by a prominent politician and made up of a mixture of politicians, entrepreneurs and experts.
This will take place on the Terrace of House of Commons. It will be attended by policymakers, influencers and the media.
Following the launch, ABE plans to engage with Ministries of Education and Enterprise throughout the world to share the lessons learned and participate in policy and curriculum development.
Follow this campaign here and on the www.businessstayup.org website (#BusinessStayUp).