Schoolchildren who are as young as five will learn how to set up their own businesses for a profit under new plans revealed by the Government in June. Prime Minister David Cameron will support the dramatic overhaul of teaching in both primary and secondary schools in order to encourage children to be more entrepreneurial, preparing them to start their own companies later on in life.
The reforms have been proposed by a former Cabinet minister who advises David Cameron on competitiveness in Britain. The move is intended to change attitudes towards self-employment and make Britain more welcoming to people who set up their own companies. The minister studied teaching syllabuses and techniques and found that lessons are irrelevant to thousands of children as they no longer apply to today’s society.
In the Enterprise for All report, several changes will be set out. The changes should be made at every level of education from primary school to university. It would mean that even the youngest children will be taught about the importance of business in society.
The minister is understood to be supporting the expansion of a Government pilot named the ‘Fiver Challenge’ where primary school children are given £5 to set up their own mini business to make a profit. The scheme is underway currently at 500 schools across the UK, with 20,000 children running their own business.
The report is also calling for more schemes such as Founders 4 Schools which sees people who have set up successful companies come in and talk to schoolchildren about creating businesses.
The report comes as it was found last year that the UK is only creating half as many new businesses as in similar countries across Europe. Britain is underperforming when it comes to business start ups due to apparent cultural reasons such as social depravity and language barriers as well as literacy levels.