I thank the Ceann Comhairle for allowing me to raise this important issue.
As business is the engine that keeps the country running and drives the local and national economy, perhaps it is time that we considered the enhanced fostering of entrepreneurship in schools and its gradual development as a formal subject. I recently received correspondence from a young and enthusiastic secondary teacher who, after involvement in the young entrepreneur programme, YEP, in County Kerry became convinced that entrepreneurship should become a subject at second level.
As part of the programme, students at both second and third level come up with a business idea, research it and submit a comprehensive business plan. Following assessment and shortlisting, they must pitch their business idea to a panel of business people who decide on 12 finalists. They then go forward to the final where they make a concluding pitch and face questions from a panel of nationally recognised experts. The winner is later announced at a gala evening attended by all — students, teachers, mentors and organisers. The YEP and similar projects in other parts of the country demonstrate the huge potential of students. Those who did not study business but who recognised gaps in the market excelled in making business plans. Many students completing the programme have a business plan for potentially viable business ventures. The experience gained in the programme arms students with the tools to better themselves and their communities. The skills learned will stand to them in whatever careers they choose.
The global economic downturn has led to a focus on the need for job creation and competitiveness to stimulate the economy into recovery. Large scale businesses and multinationals across the country are important in providing jobs but so too are the small and medium enterprises scattered across every county. The fostering of entrepreneurship in our young people, through education, is the way forward. Given the right stimulation and support, their initiative and perception could lead to the innovation needed to create new opportunities for business and for jobs.
Traditional enterprise programmes tend to teach the theoretical side of enterprise and the formulation of business plans but there is also a need to be more hands-on and practical in our approach. Making the programme examinable would give it greater credence and put the emphasis on the student taking control of their own learning. The involvement of the wider community will allow the students to derive practical knowledge from the learning pool of local established ventures through work placement and mentoring components. Students will gain self-esteem and confidence, improving their ability to research and improving their interpersonal skills, information communication technology skills, problem solving skills, accountancy and economic skills and responsibility, adaptability and independent learning. These are all important skills not only in business but in life.
Regardless of whether these students take up a career in business, these skills and a can-do spirit of entrepreneurship and innovation will stay with them in any future career they choose. It is a win-win situation. The aims and objectives of promoting entrepreneurship in schools would allow our young people the prospect of becoming self-reliant on their own initiatives, teach them how to develop their business plans, give them the necessary tools to implement their business ideas and encompass the wider community collectively in stimulating economic growth through the implementation of business ideas through to start-up businesses. It would ignite young people's passion and pride in their country and, therefore, the motivation to develop the indigenous industries that make their country economically sound. It would also foster a positive attitude and understanding of all aspects of business and promote maturity in all aspects of life, personally and socially.
The fostering of entrepreneurship would involve a coalition of partners in which each partner would be a cog in the wheel of success. Each would serve different functions and roles, ultimately achieving the same goal, which is to bring entrepreneurship to life, to bring to students an understanding of the business world and, potentially, to bring their ideas to a successful conclusion, that is, a profitable enterprise.
I understand there would be major practicalities involved in expanding these projects into leaving certificate subjects and considerable research and development would have to be done in advance. However, a review of current entrepreneurship projects in various parts of the country would be an excellent place to start. The Department could investigate why they were successful, what is to be learned from good practice, what could be improved, how the local business and school communities interacted and the dividend both for community and students involved. At the very least, projects such as YEP should be expanded and supported throughout the State. Business will drive our country forward and out of recession. Mol an óige and tiocfaidh sé.
