A common debate that keeps popping up around entrepreneurship is the question of whether education really matters. I know, I know….I have a slight vested interest in this whole debate. But, a new study written by Zoltan Acs (a leading researcher in the field) reports that populations with higher education levels have more start-ups and more successful start-ups. (See p. 28 of this study).
Dr Jeff Cornwall
Co-founder of The Entrepreneurial Mind, serial entrepreneur and professor of entrepreneurship.
Hi Jeff:
Thanks for the reference. I do think that the policy debate will be better informed when we understand that lower taxes alone does not equal entrepreneurial success – that human capital/quality issues (such as education) may also be important factors to consider.
Absolutely. Taxes, regulation, education and property rights all have been shown to play a role in entrepreneurial activity and success.
Thanks for the post.
One thing that occurs to me, an individual person. The study collects the results of a group, and then derives conclusions. The analysis of the group indicates “Higher education = better startup success.”
But me, as an individual, don’t make decisions on what the group (i.e the group of “country” i belong to) statistics should be.
Rather, i decide if i need to go back to school to learn entrepreneurship (or other things) if it will help me personally.
And so far, i’m not convinced that educational institutions help entrepreneurs that much.
So, i don’t think apples are being compared to apples.
For me, generally the education does or can contribute to an individual’s human capital, which makes people more productive.
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