Research from the Centre for Education Economics highlights the difference the right kind of education and training can make.
It turns out that business owners’ specific areas of qualification strongly predict the later growth of their enterprise, in terms of whether they will go on to employ additional staff – implicitly the right kind of people with the right kind of expertise.
New research from the Centre for Education Economics (CfEE), which includes a new analysis of 10,500 business owners in 21 EU countries, finds that human capital is absolutely crucial for entrepreneurial success in these terms.
This builds significantly on what we already know. That human capital increases high-quality entrepreneurship, and that science, technology, engineering and mathematics (i.e., the STEM subjects) are especially important for ensuring firm success – an effect that appears to operate through better use of management practices.