Entrepreneurship education is very important especially at the higher institutions to equip the young ones with the necessary skills and knowledge to succeed after school either in their workplace or personal businesses.
Development of new skills
Entrepreneurship studies will help the students develop most vital skills like self confidence, leadership, originality, risk-taking, task-result orientation among others.
Prepare for self reliance/ self employment
Offering entrepreneurship education in higher institutions prepares you to be self reliant after school. In today's world, jobs are no longer guaranteed for graduates — it is no longer "go to school, study hard, get good grade, and get a good job." Unemployment and underemployment are on the rise astronomically. The future of work is being threatened by technology. According to World Economic Forum's Future of Jobs Survey, by 2055, half of today's work done by human could be handled by robots ands automated machines cutting down future industrial workforce. Presently, the introduction of Information Technology in the financial sector has reduced the number of human tellers in the banking sector. Robots now handle customer care, receptionist, logistics jobs. This creates new roles and challenges for human workforce. Graduates are therefore faced with challenges of self employment.
To have knowledge of business aspect of every given discipline
Every discipline has business aspect, you need to learn the business of your discipline. Entrepreneurship education will empower a musician to understand the business aspect of music. Music as a profession is not just about making good sounds, there is business aspect of it for a career musician to be successful. Music business involves management, administration, marketing, accounting. So a music needs to be a musicprenuer (music entrepreneur), like wise every other discipline.
Versatility
Acquiring entrepreneurship education broaden the knowledge and skills of students thereby making them to be versatile. Don’t limit yourself to what you’re studying. Don’t say because you’re studying accounting, you must be an accountant. Because you’re studying nursing, you must work in a hospital as a nurse.
Critical and in-depth knowledge produces stability
A doctor is confident until he doesn’t know what to do. It had been established that one of the major reasons businesses fail is management incompetence. Incompetence on the part of the owners and their employees. It’s therefore important to inculcate the managerial skills right from schools. Whether you’re going to set up your own business or work for another in the private or public sectors, you need to have entrepreneurial skills. One of the inefficiencies in the public sector especially is Nigeria and Africa, is lack of entrepreneurial competence on the part of those who run public affairs – they lack the skills to run government enterprises profitability for the good of all. Many government establishments, assets are moribund today due to managerial incompetence and bad governance.
Develop one’s talent and become creative
Become job creator instead of job seek