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According to the US Census Bureau, an average of 4 million businesses are started every year, and this number is set to increase year on year. Furthermore, small and medium-sized businesses in the UK had a combined turnover of £2.3 trillion in 2021 – that’s 52% of the private sector’s overall turnover. SMEs make up around 99% of all the businesses currently operating in the UK, employing millions of people – in short, they are the backbone of the UK economy.
So with small and medium-sized businesses playing an important part in UK and US economies, why aren’t school curriculums more focused on teaching entrepreneurship skills to students? The answer may lie in years of traditionalism being the norm, coupled with society’s failure to adapt and move with the speed that technology has. But now more than ever, it’s time for schools to start building a curriculum for the 21st century.