The paper “ Entrepreneurship as a Solution to the Unemployment Crisis, The Role of Learning Institutions in Promoting Entrepreneurship in Australia“ is an actual variant of a research proposal on business. Entrepreneurship suffices to be a crucial element in the growth and development of an economy. (Carree and Thurik, 2003). The positive contribution of entrepreneurship to the development of an economy emanates from the fact that it leads to the creation of businesses, generation of income, improvement of living standards, the effective utilisation of financial, material and human resources of a country and the creation of employment opportunities.
Students that have adequate entrepreneurial skills ensure that the utilisation of resources in the country takes place in the right direction (Kritikos, 2014). As a guarantee of the benefits associated with entrepreneurship, countries including Australia have implemented specific entrepreneurship programmes in learning institutions to ascertain that graduates have the necessary skills. The decision of the Australian Government to introduce entrepreneurship studies into its education curriculum emanated from the negative perception held by students towards venturing into businesses. A majority of students that graduate from higher learning institutions is in constant search for ‘ white-collar jobs’ instead of venturing into entrepreneurial activities.
Chubb, (2015) discloses that many Australian Universities do not track the number of students who get out of their institutions and then venture into entrepreneurship. In addition, they do not attempt to measure the key outcomes such as the number of businesses formed by their former students, jobs created, capital raised or the economic value developed. The Commonwealth Government through the other levels of government has developed programmes aimed at tracking the progress of the implemented entrepreneurial programmes in universities (Mazzarol, 2014).
The objective of such supplementary programmes is to enhance the development of entrepreneurial competencies among students, the community and staffs. The implementation of such programmes takes place through seminars, workshops, courses and conferences (Mazzarol, 2014). It is evident that students develop negative perceptions about entrepreneurship whenever they implement a business idea that fails to yield positive outcomes. Problem StatementAustralia has recorded unemployment rates that exceed 5% for several years (Trading Economics, 2016). However, the Commonwealth Government in conjunction with other stakeholders has seen the need for integrating entrepreneurial studies in academic institutions as a strategy for changing the negative perceptions held by students towards entrepreneurship.
Despite the numerous efforts from stakeholders, motivating students to consider entrepreneurship still poses a significant challenge to the Government and other stakeholders. The problems associated with the negative attitude of students towards entrepreneurship trace their origin from the absence of substantial knowledge on the perceptions and attitudes held by students towards entrepreneurship. Stakeholders have concentrated their efforts on regulation, financial support, social and cultural norms while ignoring the perceptions held by students towards venturing into entrepreneurial activities. The formal market continues to record an increase in the scarcity of employment opportunities (Watts and William, 2004).
As a result, it is imperative to foster correct perceptions of entrepreneurship. This will play a pivotal role in convincing students to consider entrepreneurship as a career choice (Maalu and Kabui, 2012). It is apparent that university students have the greatest potential to establish and manage entrepreneurial ventures. However, there exists a gap in the absence of proper attitudes and perceptions among students.
The continued prevalence of poor perceptions and attitudes of students towards entrepreneurship is an indicator that the level of unemployment will continue to rise in Australia.
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