What if every entrepreneur had access to business education?
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Transcript of What if every entrepreneur had access to business education?
What if..
every entrepreneur had access to business education?
Rajesh Chandy Tony and Maureen Wheeler Chair in Entrepreneurship
Academic Director, Deloitte Institute of Innovation & Entrepreneurship Professor of Marketing
Entrepreneur
A person who sets up a business or businesses, taking on financial risks in the hope of profit
Micro Entrepreneur owner of a business <=5 employees generally informal
Profoundly Important
Micro businesses matter
Employers, taxpayers, productive citizens
Customers, suppliers, distributors
What if..
every entrepreneur had access to
business education?
Stephen Anderson-MacDonald
What if every entrepreneur had access to business education?
impact on prosperity, growth, and employment?
With Stephen Anderson-MacDonald, Bilal Zia
Doubts: about business education
Policy Makers
Researchers
Experts Muhammad Yunus: “[The poor] do not need us to teach them how to survive; they already know. So rather than waste our time teaching them new skills, we try to make maximum use of their existing skills. Giving the poor access to credit allows them to immediately put into practice the skills they already know.” (1999)
832 entrepreneurs randomly assigned
into 3 groups:
marketing, finance, control
Randomized Controlled Trial
Marketing Training
Control (no training)
vs. vs.
Finance Training
Control (no training)
1 3 2 3
Overview of Study
Interventions
- 10 modules (weekly): concentrate on one business function (marketing or finance) - Focused on changing business behaviors
Marketing Training
Control (no training)
vs. vs.
Finance Training
Control (no training)
1 3 2 3
Results: 18 months later..
Marketing Training
Control (no training)
vs. vs.
Finance Training
Control (no training)
1 3 2 3
Results: 18 months later..
Survival
Marketing: 9.7% Finance: 12.7%
Marketing Training
Control (no training)
vs. vs.
Finance Training
Control (no training)
1 3 2 3
Results: 18 months later..
Profits
Marketing: 86% Finance: 75%
Marketing Training
Control (no training)
vs. vs.
Finance Training
Control (no training)
1 3 2 3
Results: 18 months later..
Sales
Marketing: 69% Finance: 39%
Marketing Training
Control (no training)
vs. vs.
Finance Training
Control (no training)
1 3 2 3
Results: 18 months later..
Employees
Marketing: 62% Finance: 33%
Pathways to Profits
vs
What if..
every entrepreneur had access to (quality) business education?
• Solve poverty through better business?
What if we could..
• Learn about ourselves through the lives of micro-entrepreneurs?
• Offer (quality) business education to millions of entrepreneurs?
Pathways to Profits
Thank you