Skip to main content

If growth is so important …


If the reaction to the lasted GDP figure (it shrank by 0.3%) is anything to go by, the answer to all our economic woes is growth. Of course, the devil is in the detail – kindly provided by the Office of National Statistics' January release.

But, just where will this, much looked for growth, come from?file://localhost/Users/nigellockett/Desktop/Picture%20clipping.pictClipping

Lord Heseltine will leave NO STONE UNTURNED and even has a "blueprint for the future":

  • Prime Minister-led National Growth Council;
  • Very significant devolution of funding from central government to Local Enterprise Partnerships (LEPs)
  • Clear statement by government of its priorities to guide LEPs;
  • Clear policy for each sector of the economy conceived in conjunction with industry and academia.
  • And many more …

The European Commission is very clear! In its most recent report (Rethinking Education Strategy) it proposes a Entrepreneurship Action Plan as a "blueprint [yes another one!] for decisive action to unleash Europe's entrepreneurial potential, to remove existing obstacles and to revolutionise the culture of entrepreneurship in Europe”. Put simply “Entrepreneurial education and training = growth and business creation”.

It states the need to create an environment where entrepreneurs can flourish and grow - there needs to be action on:

Access to finance is a significant constraint;

  • Supporting new businesses in crucial lifecycle phases;
  • Unleashing new business opportunities in the digital age;
  • Making transfers of business ownership easier;
  • Turning failure into success: second chances for 'honest' bankrupt entrepreneurs;
  • Regulatory burden reduction;
  • Business development support for unemployed.

It leads on the need to support entrepreneurship education and states that the Commission will:

  1. Develop a pan-European entrepreneurial learning initiative for impact analysis, knowledge sharing, development of methodologies and peer mentoring between practitioners from Member States;
  2. Reinforce co-operation with Member States to assess the introduction of entrepreneurship education in each country and to support public administrations wishing to learn from successful peers;
  3. Establish, jointly with the OECD, a guidance framework to encourage the development of entrepreneurial schools and VET institutions;
  4. Endorse successful mechanisms of university-driven business creation and emerging university-business ecosystems around key societal challenges.
  5. All fine words but what about action …