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‘Enterprise for All’ – a report by Lord Young

By 24th June 2014 No Comments

Students should be able to rank university courses by their employment rates and earning potential, under new proposals from the Prime Minister’s enterprise advisor, Lord Young.

Plans published in his report Enterprise for All could mean that for the first time, students can see what they could be earning up to ten years after they finish a course.

Under his proposal, Lord Young recommends tracking employment and earnings of university alumni to help young people make better informed choices when selecting university courses and to drive up standards across the higher education sector by putting pressure on universities to make sure their courses are relevant to the world of work.

The proposal forms part of the third and final report from Lord Young to the Prime Minister, which focuses on enterprise and entrepreneurial spirit in education.

Other proposals in the report include the introduction of a new Enterprise Passport – a digital record of all extra-curricular and enterprise related activities that students take part in throughout their education and the introduction of Enterprise Advisors – a network of businesses and professionals that schools will be able to call on for advice and work experience opportunities.

Maintained by schools, the Enterprise Passport is a nod to the growing importance and value of extra-curricular experience and will for the first time give an official record of a young person’s business and employability skills in addition to their academic qualifications.

The passports will progress from Bronze to Silver, Gold and Platinum – depending on the level of extra- curricular an enterprise activity a young person takes part in.

Other recommendations in Lord Young’s report include:

  • Universities to offer modules on enterprise and develop active and supported enterprise societies.

  • All Level 3 vocational courses should include a module on working for yourself and how to start up a business.

  • Continued commitment to the ‘Fiver’ programme – which offers primary school children £5 to run a mini business for a month – and is set to double to 40,000 pupils.

  • The introduction of an Enterprise ‘E-Star’ Award to assess and recognise a university’s commitment to entrepreneurship.

    Lord Young said: “Enterprise means far more than just the ability to become an entrepreneur. It is an attitude and set of skills that are vital in today’s growing global economy.

    “For many young people the fourth R in education is relevance – unless they see the relevance of their lessons to their future, they can switch off.

    “That is why I have set our plans for how schools, colleges and universities can respond to the changing labour market and give every young person who leaves education with the right skills they need to help them get on and succeed.”

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