Entrepreneurship and education

• Main Authors: Palanivelu Panchatcharam, S. Sunil K. Sivaraman, Yap, Chai Muay
• Other Authors: Lee Boon Keng
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business::General::Economic and business aspects
• Online Access: http://hdl.handle.net/10356/63528
• Institution: Nanyang Technological University

To survive in an increasingly competitive global business environment, the need to be creative and rapid in coming up with new ideas and inventions has now become a necessity. The role entrepreneurs can play in a country's economy has been widely recognised. Indeed, the most plausible answer to why some economies progress much faster than others is found in human attributes to risk-taking and money making. The importance of entrepreneurship does not lie solely in its job creating potential, but also in the ability of entrepreneurs to bring about innovation, capture new markets and increase productivity, thus maintaining a competitive edge. In general, entrepreneurs are able to identify profitable opportunities and channel capital and related resources to exploit them. With entrepreneurship being recognised as a wealth creation and a value-adding process [Kao 1993], educational investment in the relevant field is therefore seen as a vehicle for development and prosperity. The main focus of this research study is to discuss the effect of education and its associated human capital development on entrepreneurship and economic growth. A case study is done on Singapore to identify and establish a relationship between entrepreneurs and their education levels. The Singapore's education system has often been criticized to be the cause of many problems inhibiting entrepreneurship. Many lament that high levels in education has stifled the growth of the entrepreneurial spirit here. Given the current emphasis and concern shown by the government of Singapore in the area of entrepreneurship, we hope that a study into the relationship may help the government and the relevant committees in structuring an unambiguous policy prescription pertaining to the promotion of entrepreneurship in the country.