Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Category Archives: Analysis
Why Enterprise Education is Vital in Today’s World
In an era where innovation, entrepreneurship, and adaptability define success, enterprise education has become a cornerstone of modern education systems and business environments. Its importance extends beyond traditional learning, fostering the skills and mindset necessary to thrive in today’s fast-changing, competitive world. Let’s explore why enterprise education is more crucial than ever. What is Enterprise Education? Enterprise education equips individuals with the knowledge, skills, and mindset required to engage in entrepreneurial activities. It’s about more than just starting a business—enterprise education encompasses creativity, critical thinking, problem-solving, and leadership skills that prepare people to navigate complex, uncertain environments. By blending theory with practical experience, students are taught how to identify opportunities, develop business ideas, and implement innovative solutions. The Growing Importance 1. Adaptation to the Evolving Job Market The global job market is rapidly changing due to automation, digitization, and the rise of new industries. Many traditional jobs are being replaced or significantly altered by technological advancements. Enterprise education helps students develop the agility and innovative thinking needed to adapt to these changes. By instilling entrepreneurial skills early on, learners are better prepared to pivot, create opportunities, and stay competitive in their careers. 2. Fostering Innovation and Economic Growth Entrepreneurship is a key driver of economic development. Startups and small businesses often introduce innovations that large corporations may not be agile enough to implement. Enterprise education encourages young people to think like entrepreneurs, fostering innovation at a grassroots level. By teaching the basics of creating and running a business, students gain the skills to contribute to economic growth through job creation and new industries. 3. Developing Problem-Solving Skills In a world where problems are becoming more complex and global, having strong problem-solving skills is essential. Enterprise education challenges students to identify real-world issues and develop viable solutions. This practical, hands-on approach enhances critical thinking and decision-making abilities, both of which are invaluable in any career or entrepreneurial endeavour. 4. Encouraging Risk-Taking and Resilience Starting a business involves taking risks, and enterprise education helps students understand that failure is part of the learning process. By creating a safe environment for students to experiment and fail, this learning path instills resilience. This mindset is crucial, not just in entrepreneurship, but in all aspects of life. Individuals who are not afraid to take calculated risks and learn from their mistakes are better equipped to succeed in a world that demands constant adaptation. 5. Empowering Individuals and Communities Enterprise education empowers individuals by giving them the tools to shape their own futures. It provides a pathway for people to achieve financial independence, break cycles of poverty, and create solutions tailored to their community’s needs. Additionally, it encourages a sense of responsibility and leadership, as entrepreneurs often take active roles in their local economies and communities. Schools and Universities Many educational institutions have integrated enterprise education into their curriculums to meet the growing demand for entrepreneurial skills. Universities and business schools offer specialised courses in entrepreneurship, while secondary schools incorporate enterprise challenges and business simulations to give students real-world experience. These initiatives ensure that learners are not only academically prepared but also equipped with the practical skills to start and manage successful ventures. How Enterprise Education Benefits Employers For employers, hiring individuals with an entrepreneurial mindset brings numerous advantages. Employees with enterprise education backgrounds tend to be more innovative, proactive, and willing to take ownership of projects. These skills translate into greater workplace productivity and more effective problem-solving. Employers who embrace entrepreneurial employees are better positioned to stay ahead of the competition in an ever-evolving business landscape. The Future The importance of enterprise education will continue to grow as the world becomes more interconnected and reliant on innovation. Governments, educational institutions, and businesses must collaborate to ensure that it is accessible to all students. Additionally, with the rise of digital learning platforms, enterprise education can be scaled to reach a global audience, providing more opportunities for individuals to develop the entrepreneurial skills needed for future success. Final thoughts In today’s rapidly changing world, enterprise education is more than a trend—it’s a necessity. By fostering innovation, resilience, problem-solving, and a risk-taking mindset, it equips individuals with the tools to succeed in a variety of fields. Whether they choose to start their own businesses or apply these skills in existing organisations, those who embrace these competencies will be well-prepared to navigate the challenges of the modern economy. You can unlock your potential and make a significant impact on both your personal development and the wider economy. Whether you’re a student, educator, or business leader, recognising the value of enterprise education is key to staying ahead in today’s competitive world. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. Prior to becoming a business consultant, I was a tech founder with my work receiving endorsements and recognition from Newcastle University and NatWest I work with a variety of clients including individual entrepreneurs, SMEs, and the public sector. For details about my credentials, please refer to my resume.
Why immigrant entrepreneurs are important to the UK
As a former international founder in the UK, I have written several articles about immigrant entrepreneurs. In this one, I will look at their importance from a UK perspective. The UK’s political and economic landscape has rapidly shifted in the last decade. Moreover, preserving its benefits for international entrepreneurs is vital to the UK’s future success. Immigrants are much more likely to become entrepreneurs. This is a hypothesis that I examined in several other articles on my blog, most notably: In the context of the UK, the key points covered in my previous research may be applicable. However, identifying the importance of immigrant entrepreneurs to the UK benefits from highlighting the key factors signifying this importance. These are namely: Global challenges We live through a historical period in which the problems facing humanity are, by their nature, global. Examples include international terrorism, climate change and so on. As we are on the topic of climate change, allow me to introduce you to the concept of “climate refugees” For many, the issue of migration and displacement is automatically contextualised as a political one. However, this is an incomplete perspective and ignores the increasing roles of other issues such as climate change. According to a report published by the International Organization for Migration (IOM), there will be an estimated 25 million to 1 billion displaced people, solely due to climate change, by 2050. Additionally, UNESCO has predicted that displacement will be a primary cause of displacement within the following decades. << Read full report>> By 2050, there will be between 25 million to 1 billion displaced people due to climate conditions. The International Organization for Migration (IOM) Innovations & new solutions Global challenges require global solutions. Restrictive measures, enacted through policy and other means, pose the risk of harming global innovation. Immigrants, nomads and displaced people are problem-solvers by nature. Their realities are formed by unique events and challenges. The latter are beyond what is interpreted as “ordinary” for most people in the “developed” world. For instance, let us look at an article by Stanford Graduate School of Business. The article examines 880,000 patent registrations between 1990 & 2016. The research found that patents by immigrants outmeasured the native groups both statistically and in terms of quality. Despite comprising only 16% of inventors, immigrants were responsible for 23% of patents issued. This study may be contextually and geographically limited to a specific area/nation. However, it supports the broader argument that innovation and creativity are skills that are highly evident among migrants and displaced people. The succeeding point about immigrant entrepreneurs in the UK will support this hypothesis. Immigrant entrepreneurs behind the UK’s top companies Similar to the US, immigrant entrepreneurs in the UK proportionally outsize the local population. In a research/study conducted by The Entrepreneurs Network (TEN), it was observed that foreign-born founders or co-founders accounted for 39% of the top 100 fastest-growing enterprises in the UK. The UK’s global position The UK’s global standing as an entrepreneurial ecosystem and a business-friendly nation is closely tied to immigrant entrepreneurs. This connection remains significant in the long term. Therefore, the formation and structure of the UK’s visa policy hold critical importance. Immigrants, nomads and displaced people show high tendencies towards entrepreneurship. This is inherently valuable and must be utilised for the betterment of the world. However, the current global visa regime has a long road to adapt to the premise of immigrant entrepreneurship. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats. I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme. Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (replaced by the Innovator Founder Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies. References
Why many immigrants become (great) entrepreneurs
In a previous article, I made a semi-academic evaluation of the link between being and immigrant and becoming an entrepreneur. My previous analysis demonstrated a direct link between immigration and entrepreneurship. In 2018, over 55% of US unicorns were founded or co-founded by immigrant entrepreneurs (Anderson, 2022). This percentage represented 50 unicorns with an immigrant founder or cofounder out of 91. Fast forward to 2022, there were 582 unicorns in the US, and again 55% (319) of them had an immigrant (co)-founder. Additionally, a 2012 study stated that immigrant entrepreneurs represented over a quarter of all startup founders. As human beings, our biological instinct is to survive and evolve under difficult circumstances. This may manifest itself in various ways. Immigrants and displaced people face an array of considerable socio-economic barriers and challenges. These challenges may be internal (e.g. mental health issues), external (e.g. employment discrimination, or both. Additionally, these external and internal may have an inverse relationship. This further complicates the conclusion of a thorough third-party perspective on this issue. Nevertheless, the above reflects the inherent principle behind the hypothesis that immigrants are statistically and practically more likely to become entrepreneurs. In this piece, I will highlight three key points concerning immigrants and displaced people. These factors range in nature and effect, but their common attribute is their contribution towards immigrants’ pursuit of entrepreneurship. Limited opportunities / Socio-Economic barriers Once immigrants and displaced people have arrived, and by some means have “settled” in their destination, their primary concern will be money and financial stability. Thus, they are likely to encounter and face the labour market of their new home. Unfortunately, this is one of the early and key areas in which immigrants and minority individuals will encounter bias, discrimination and prejudice. I shall state, that I comprehend the complex nature of this issue from a sociological perspective. However, this article does not seek to evaluate the phenomenon of discrimination. Instead, I will highlight how the existence of the aforementioned is influential in immigrants pursuing entrepreneurship and self-sustained revenue sources. Labour Market Case Study | USA Numbers are always useful in providing a clear picture of a hypothesis. As such, let us consider some statistics concerning employment discrimination in the US. For the year 2022, the U.S. Equal Employment Opportunity Commission (EEOC) received a total of 73,485 discrimination charges. Of this, 34% of the cases, 20,908 charges, were based on racial discrimination. Additionally, 6,213 charges, or 10% of the entire charges for 2022, were based on national origin. Aside from statistics, it is useful to consider a psychological perspective on the issue of labour and employment discrimination. As such, we shall refer to a case study highlighted by Hamilton College. This study was conducted on economics doctorate students and assessed their employment outcomes against the fluency of their names. The research found that having an unconventional or hard-to-pronounce name limits employment prospects for candidates. In this case, those candidates were 10% less likely to secure an academic position. Labour Market Case Study | UK Aside from the US, research that was undertaken in the UK reflected similar results. One study by the University of Oxford found that Asian and Black ethnic minorities in the UK have to make twice as many applications as their other counterparts. Thus, we can see that labour discrimination and access to employment are real barriers for most, if not all, immigrants, whether first or second-generation. The extent of this discrimination, and therefore its effect, may be debatable; however, it is difficult to argue against the existence of discrimination in the labour market as a whole. Furthermore, we may also reasonably speculate that having less access to opportunities contributes to immigrants’ pursuit of entrepreneurship. Resilience and risk tolerance Immigration is a phenomenon that radically transforms one’s entire life and the lives of those close to them. Perhaps this is a relevant instance where the difference between the terms “expat” and “immigrant” may be relevant. One key difference between the two, in my opinion, is the element of “choice”. Expats “choose” to move abroad, and can “choose” to move back to their home country. Immigrants and displaced people, by principle, do not have this “choice”. This derives from inadequate and negative political, economic and societal conditions where immigrants and displaced people originate. When one is encountered with a life where the choices are always between “difficult” and “more difficult”, you are likely to have a different approach towards risk. One of the principal factors influencing the pursuit of entrepreneurship is risk tolerance. Immigrants and displaced people are arguably more risk-tolerant due to the dynamics of their lives and past experiences. This may not be a deciding factor on its own. However, the psychological attributes of immigrant entrepreneurs, which this point reflects, are an important point of consideration. Liquid assets & access to cash When we speak of immigrants and displaced people, we are not referring to a collective group of people who are highly alike. Immigrants and displaced people could consist of upper-middle-class families with considerable liquid assets who are seeking to migrate for a better life abroad. In contrast, we may also refer to asylum seekers who are fleeing conflict such as the Ukranian refugees in 2022. The point that I wish to highlight here is one common factor among all the different segments of immigrants and displaced people. This mutual attribute is the intention to permanently move away and establish a new life. As such, it is not surprising that many immigrants will seek to relocate their assets (if any). Moreover, asset liquidity is integral for international relocation; thus, immigrants and displaced people often happen to have access to liquid assets more than native populations. In terms of entrepreneurship and business creation, the role of capital cannot be underestimated. Many ventures will require an initial capital investment. Immigrants, due to their access to capital due to their circumstances, are therefore likely to overcome this first hurdle. These are some factors that motivate immigrants to become…