Global Entrepreneurship Week takes place on the week of the second Monday of November and is a time to celebrate those people blazing a trail in business for themselves. But helping to support young entrepreneurs can help your business in multiple ways too, even if they go off and do their own thing. This article looks at how to encourage UK entrepreneurship in these choppy financial waters.
It also looks at intrapreneurship, which is the act of encouraging employees to behave like entrepreneurs and to drive change in your company. Keep reading to find out more about this novel, but increasingly important aspect of the business.
Benefits of Supporting Entrepreneurship
We work with corporate partners like you to encourage more young women to follow their business dreams and become successful entrepreneurs. The reason that businesses get behind this is that it makes sense to help strengthen the market and ensure there are people inspiring real productivity.
Working with these future business leaders helps companies understand the next generation of entrepreneurs and close those generation gaps that can grow if a business takes its eyes off what is coming down the line. You get to help transform the lives of young women and we give you access to our exclusive data and research gained from our extensive involvement with young women heading out into the worlds of both employment and entrepreneurship.
You can find out more about our partnerships on the dedicated page.
How to Encourage UK Entrepreneurship
Money is tight, particularly in the public sector. Unfortunately, one of the casualties of shrinking real terms budgets in schools is the extra-curricular programme. These after-school clubs are important for many aspects of life, from sports to music, but also helping children to work their way towards being entrepreneurs.
School extracurricular clubs are the perfect place to encourage UK entrepreneurship and the way we can make that happen is through corporate sponsorship. Not only does sponsoring a school form part of your CSR efforts, but it genuinely does make a difference. By inspiring and motivating children at that age, you help to create the next generation of business titans.
Host Insight Days
Away from schools, getting children into your business to see how it works from the inside is another inspiring way to spark an interest in the corporate world. Allow students to come to see your business from the inside and teach them about the various roles in your structure and industry in general.
Present them with aspirational role models within your organisation and answer their questions.
Not only do you encourage UK entrepreneurship by giving them a taste of the corporate experience, but these future business owners may well become your future suppliers or customers based on this early connection. In addition, those pupils who attend but who do not want to go it alone might instead become your future employees, doing great things in your industry.
Some entrepreneurs need to experience the workings of the business to then transfer those skills to their own ventures. By providing internships to those looking to spread their wings and fly in the future, you give them a grounding in the nuts and bolts of the working world. But you also receive their hard work in return, making it a mutually beneficial arrangement.
What About Intrapreneurship?
Intrapreneurship is the perfect combination of encouraging entrepreneur-like behaviour within your organisation.
There is a risk that companies become risk-averse and stop innovating for fear that they will undo their success. However, sticking to a strict plan forever prevents you from moving with or even ahead of the market to embrace the new challenges that arise in a fast-moving environment.
Employing intrapreneurs gives you that drive within your business to try new things. They are supported by the fact that you already have the frameworks and resources in place to allow them to free think their way to success for the business. Allow your intrapreneurs to take the ideas that get thrown around and own them. They can grow them to develop them into a new product or service and make a success of it.
The good thing is that when you encourage UK entrepreneurship in school children, you also inspire intrapreneurship. Many of the core skills are the same, but some future business leaders will want to go off and do it on their own, whilst others will want to innovate within an organisation like yours.
On the one hand, you are altruistically equipping entrepreneurs with essential tools, but you are also working together with pupils who could soon become your rising stars and who might just have the key to unlocking the next great project within your organisation.
Work With Ms Independent to Encourage UK Entrepreneurship and Intrapreneurship
Partner with Ms Independent to help the next generation of innovators. We work in schools with girls who want to build major careers and create stellar businesses. In order to do this, we work with businesses like yours.
This involves working with girls from often disadvantaged backgrounds and equipping the, with the skills that they will need for the future in business. We cover topics relating to leadership, money management, problem-solving and more. These are the skills that they will need to thrive in their future business careers and become the next entrepreneurs and intrapreneurs.