Postgraduate (MSc, MA, MBA, PhD) Programs in Entrepreneurship

Entrepreneurship is key to the UK and world economy. SMEs (small and medium-sized enterprises) generate half of the UK’s national income and two-thirds of all employment. In fact, small businesses constitute 99.95% of all UK private sector businesses – large companies and corporations only account for 0.15% of all businesses in the UK private sector. So, it is no wonder that increasing numbers of students are choosing to set up their own business, join small start-ups or take on their family business after graduation, instead of following the well-trodden path into a graduate trainee scheme with a large corporation.

Why study a masters degree in entrepreneurship?

Studying a masters degree in entrepreneurship offers students the following advantages:

The opportunity to develop highly relevant skills, from business basics to entrepreneur-specific skills, such as how best to write a business plan targeted to venture capitalists.
Credibility as someone interested in, dedicated to, and knowledgeable about business and entrepreneurship.
A perfect venue for trying out entrepreneurial ideas such as by writing a business plan for a seminar, with a critique to be offered by fellow students as well as professors.
A fine hunting ground for assembling a management team for your venture; whether during your studies or long after, the people you meet in your program are likely to be those you will tap to help you get your venture up and running.
A good test of your entrepreneurial enthusiasm.

It's not just for entrepreneurs

This masters degree may be valuable to a wide range of participants, not just those who intend to start (and grow) their own businesses. It can also appeal to those who intend to:

Act as professional service providers to entrepreneurs.
Work in high-growth firms.
Invest in entrepreneurial ventures.
Pursue social entrepreneurship.
Help society develop more entrepreneurs or entrepreneurial activity.

Entrepreneur trends

The growth in entrepreneurial activity has been driven by many factors, including:

Increased visibility of wealthy entrepreneurs, particularly in the tech sector.
Increased awareness of entrepreneurs’ positive impact upon the economy.
The development of social (not just business) entrepreneurship.
Numerous opportunities in a time of technological, social, and political change (not to say disruption).
Available venture capital.

Find postgraduate programs in ENTREPRENEURSHIP

Choosing a masters program in entrepreneurship

Most entrepreneurship masters programs are one year in length. Similarly, most have proven entrepreneurs on the faculty (albeit sometimes as adjunct faculty members) or as entrepreneurs-in-residence. There are, however, major differences among them. Some are ‘lockstep’ programs – everyone takes the same courses at the same time, without any elective/specialised course options, whereas others offer a range of options. Some welcome those without prior degrees in business, whereas others are designed for those with a solid foundation in core business subjects. The major difference, however, is between programs that focus exclusively upon developing technology-driven businesses and those that do not consider tech businesses to be the only ones worthy of consideration.

The typical topics covered in an entrepreneurship program include:

Recognising opportunities
Developing a business plan
Financial projections
Entry strategies
Growing the business
Financing the business: venture capital, debt, other forms of financing
External advice
Legal and tax issues
Intellectual property
Exit strategies
The entrepreneurial mindset.

Eligibility requirements for an entrepreneurship masters

Some programs require an undergraduate degree in business, whereas others simply look for prior coursework in accounting, finance, and statistics. If your first degree is not in this field, look around as there are masters degrees in this field that will be open to a first degree in any field as long as they have an enthusiasm in entrepreneurship, and skills including:

A technological orientation or coursework related to technology.
Evidence of prior entrepreneurial effort.
A combination of leadership and team play .

Where can you study a masters in entrepreneurship?

Studying a course in entrepreneurship will give budding entrepreneurs the perfect set of skills to get started in setting up a successful business. Aston Business School offers a tailored MSc Entrepreneurship and Innovation which includes modules such as:

Enterprise Strategy
Developing Enterprise Skills
Digital Venture
Entrepreneurship
Sustainability in International Business
Globalisation of Innovation
Marketing Management
Advanced Corporate Finance

MBA in entrepreneurship

It goes without saying that it’s very beneficial for would-be entrepreneurs to study an MBA, and if the MBA course specialises in entrepreneurship, that’s even better! An MBA in entrepreneurship explores the necessary skills and knowledge needed for a student to be successful in a new venture or service. As an MBA course this will also instruct the student in coping with this field within a business and management framework to enable them to become successful entrepreneurs as well as being able to manage the business.

Anglia Ruskin University has an Entrepreneurship MBA that encourages students to face real-world challenges and experience practicl learning throughout the duration of the course. This MBA degree has January and September start dates and is studied full time over one year.

PhD in entrepreneurship

A PhD in entrepreneurship gives students the chance to study this fascinating area in even greater depth. When studying a doctorate in entrepreneurship students are likely to research innovation and entrepreneurship in both large firms and small businesses. There is also likely to be the chance to explore the impact of technological changes and advances in company practices and how to deal with these in a successful way when developing a business or product.

The Institute for Creative and Cultural Entrepreneurship (ICCE) at Goldsmiths, University of London offers an MPhil and PhD in Creative and Cultural Entrepreneurship which can be studied full time over three to four years and part time over seven to eight years. The course starts in September and students have the chance to study in this unique institute specifically created for those interested in entrepreneurship.

Meanwhile London Business School has a PhD in Strategy and Entrepreneurship which is designed for those interested in pursuing an academic career in this field.

Career opportunities for entrepreneurs

Entrepreneurs may or may not manage to start a venture upon their graduation. Many, while attempting to assemble the resources (or come up with the idea) for a venture, take up positions that give them relevant experience. Some choose to work in the industry that they have targeted for their would-be start-up; others look to get relevant operating experience in an appropriate functional area keyed to their skills (such as marketing); and still others work in a service capacity for start-ups, often in hopes of developing a network that they will be able to tap in the future.