The enterprise agenda has become increasingly important to policy makers as they seek to generate business creation and growth; however it is not purely their concern. The level of innovation, creativity and enterprise is shown to have a definite impact on the performance of an economy’s business stock. Research shows that businesses are more likely to thrive in a dynamic and diverse business environment; if these conditions are not met then growth of the existing business stock can be restricted. From an individual point of view, the aim is to increase confidence and raise aspirations. By encouraging a ‘can-do’ attitude the economy will hopefully see the benefit of a more motivated and enterprising workforce in the future.

The agenda extends far beyond business creation, it is also vital to encourage individuals to acquire the skills necessary to operate in the modern workforce. As a result, enterprise education has become a key part of the national curriculum. The subject combines issues related to enterprise, financial capability and business understanding, including aspects such as managing personal finances and budgets.

At present the DfES fund all state schools to deliver enterprise learning for KS4 pupils (14-16). They recently set up Northern Way Project guarantees to match any funding provided by DfES, if the school involved can demonstrate the presence of enterprise education in their curriculum.

Fact File

• DfES fund all state schools to deliver enterprise learning for KS4 pupils (14-16).
• The key aim of the current regional Enterprise Programme is to stimulate growth in the business base. One NorthEast has set a target of 18,500 to 22,000 new business start ups by 2016.
• The programme also hopes to increase the number of jobs available in the region, aiming to create an additional 61,000 to 73,000 in the same time period.
• One NorthEast will spend £177m in the first 5 years of this programme.
• In 2005 the DfES allocated £60m of funds to its enterprise education budget. This will provide the equivalent of 5 days enterprise activity for each Key Stage 4 (KS4) student (14-16 years olds).
• The Enterprise Advisors Scheme funds the use of enterprise specialist in nearly 1,000 secondary schools