Entrepreneurship education is a concept that aims to teach young people with financial information, skills, and drive (the purpose of the motivation is to encourage entrepreneurial success in a diversity of setting).

The main goal of this concept is to focus on the development of skills or attributes that allow for the realization of opportunity. For example, management education focuses on a better way to operate existing projects, whereas entrepreneur education provides you with skills that will help you kick start the project.

Although both techniques seek to maximize profit, you must first master one before moving on to the other.

So, let us look at the importance of entrepreneurship education…

You may recall that it is a notion that allows you to have access to financial understanding; this has shown to alleviate many unemployment problems in countries, including Nigeria.

I would consider entrepreneurial education to be a significant instrument in lowering a country’s unemployment rate, using Nigeria as an example. You and I both know that more than half of the citizenry is unemployed and living in poverty.

Through job creation that entrepreneur education has established, it has helped and continues to aid to better the life style of so many young people out there. For example, assume you graduated from a prestigious institution with a decent grade and now find it difficult to make a living. So all of your efforts in education have been in vain?

A current study is being conducted to identify the most recent data; most MSMEs were formed out of entrepreneurship, and this has supported the idea that entrepreneurship education plays an important part in lowering the country’s unemployment rate.

Benefit of entrepreneur education

  1. Job creation

Nobody has to tell you that the rate of unemployment in Nigeria is increasing year after year, and I can tell you that one of the solutions to this problem is to get trained in financial management. It is not necessary to start a large corporation right once; you might get trained in a profession and then find a job that will allow you to fund a business of your choice.

These abilities include critical thinking, creativity, innovation, and risk management; they enable students to think outside the box and become job creators rather than job seekers after graduating from college or university.

Also, by investing in youngsters to learn skills or start businesses, there will be employment opportunities not only for them, but for those who are looking for work. Because not everyone will be a company owner, the development of jobs will provide opportunities for others.

  1. Individual self-development and competence
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Learners may obtain entrepreneur attributes including as communication, risk management, critical thinking, and problem solving with the help of entrepreneurship education.

This type of education teaches youth to be self-sufficient; they gain confidence in their own abilities; the ability to take risk and manage it is required for success; and when an individual possesses this characteristic, he can deliberate on each entrepreneurship step and be confident in its productivity. He or she also gains independence when he or she succeeds in whatever he or she had formally intended.

In addition to personal growth, entrepreneurship education helps students acquire self-discipline.

  1. Economic growth

With entrepreneur education, the rate of unemployment may be reduced, which will undoubtedly have a positive influence on the nation’s economic progress.

It was a study dealing to the influence of entrepreneurship on economic growth, according to research conducted by the United Nations University World Institute for Development and Economic Research (UNU-WIDER).

Entrepreneurial activities have not only reduced unemployment in Nigeria but have also contributed to economic progress; this is one of the advantages that most industrialized countries, such as China, take use of.

The use of this type of education as a technique for lowering unemployment in Nigeria would relieve some burden for both the government and the citizens.

Still on economic growth, it contributes to the development of wealth for the nation- when you generate new enhanced products or services, it leads to the formation of new markets and so lays a firm basis for a self-sufficient economy.

  1. It creates room for creativity and collaboration

The fact that it creates a medium for cooperation, creativity, and invention makes it highly valued by the world’s finest colleges; it is a type of education that will serve you long beyond middle school and college.

  1. It teaches problem identification

Both the young and the old must learn how to spot difficulties, especially when it comes to money.

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If you are a recent graduate, this type of schooling will help you find issues. Once you have identified a problem, you will have an opportunity to solve it using the creative information you have gained.

Although issue solutions should have been considered in secondary school, the same cannot be true for problem identification; you may simply need to apply the fundamentals of what you learned in college.

  1. It makes the world a better place

The fundamental goal of an entrepreneur is to earn a profit; nevertheless, it also solves issues, helps people to satisfy their wants, and alleviates many pain points via the use of goods and services.

These people are hard-wired to make a difference and make Nigeria a better place. By participating in entrepreneur activities, modern entrepreneurs not only benefit themselves by obtaining a source of income, but they are also ready to convert the world into a better one.

 How to get entrepreneur education

This is the most crucial piece of the material; you may read all I’ve said here and still be blank (you don’t know how to proceed); this was always my habit until I was lucky enough to have complete knowledge.

You should begin participating in entrepreneur programs; this does not imply that you must pay for lessons or wait until the government is ready to empower the youth; far from it! You should begin immediately before it is too late.

I began my entrepreneur education program by viewing YouTube videos—completely it’s free, and you absolutely need it, especially if you’re currently broke. Taking a topic and learning about it on YouTube will benefit you more than watching movies online.

After obtaining YouTube videos relevant to your subject, you can proceed to purchasing Udemy courses if you have the funds.

Gradually, you become a student of entrepreneurial education, and as time passes, you progress toward financial intelligence.

CONCLUSION

Entrepreneurship has been identified as a pillar for 21st century socioeconomic development worldwide; it is a step in the right direction for the government to incorporate entrepreneurship education into the academic curricula of Nigerian higher educational institutions.

When it comes to instilling an entrepreneurial attitude in pupils, the value of entrepreneurship education cannot be emphasized. We also cannot overestimate the effectiveness of entrepreneurship education in instilling in students the imaginative problem-solving skills required to tackle the country’s rapidly rising unemployment rate.

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Entrepreneurship education provides students with the soft skills they need to operate well in the actual world of work, in addition to the hard skills obtained in their numerous specific fields of study.

Though entrepreneurship may not be the solution for young unemployment, a number of studies have linked entrepreneurship education to unemployment reduction through skill development and the establishment of youth self-employment possibilities.

As a result, I believe that educational systems should incorporate entrepreneurial skills into their curricula. This study indicates that entrepreneurial alternatives must be included in the curriculum of Nigerian higher educational institutions.

However, in order for it to be effective, the government must step up and make monies accessible to these educational institutions in order for them to put in place the required infrastructure to deliver effective entrepreneurship education.

RECOMMENDATIONS

Following the conclusions of this, I will highly recommend the following:

  1. There should be a strong partnership among industry and the universities. This can be in form of mentoring and internship provision in Nigeria.
  2. Universities should be mandated by policy to pattern their entrepreneurship development and entrepreneurial education after the model that works out creativity in the students and not just theoretical practices of entrepreneurial development.
  3. To completely battle the threat of unemployment in the country, government should deliberate on how to strengthen entrepreneurship education in present public universities and other higher educational institutions, instead of creating more.

According to UNESCO’s International Bureau of Education, countries coping with high levels of unemployment may opt to prioritize skills development or entrepreneurial education to fulfill that specific demand of their population.

  1. With the assistance of large enterprises, government in collaboration with the higher institutions should make funding provision at very low cost available to students who are ready to establish their own business on graduation.

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