Young entrepreneurs need more access to business schools, according to the Business Administration of Canada (BAC).
The organization’s study found that there are only about 60,000 entrepreneurs in the country.
About 60,200 of them are in the business schools program, the study said.
“Young entrepreneurs need to be able to get the knowledge they need to compete and succeed in the marketplace,” said Robyn Lipp, executive director of the BAC.
“Our students are going to need to get access to that, and the students in the Bancroft Business School program are not getting that.”
According to the study, just 3.6 per cent of the business school graduates graduating from high school in 2016 are employed, while the number is about 7 per cent in the workforce at other universities.
The proportion is higher in higher education institutions, which had a higher proportion of graduates in the work force at 4.5 per cent, compared to the 1.6 percent of students in high school.
“We have the highest percentage of students out of the workforce, so we need to have a workforce that’s able to meet their needs,” said Lipp.
The report also found that only 15 per cent have access to an employer-sponsored financial aid program, and nearly one in five students in that program do not have access.
“It’s important for students to be aware of their options and be able see how much they can get,” said Laura Stronach, associate professor in the School of Public Policy and Management at Carleton University.
“I think it’s very important that we make sure that our students have a real choice of how to go about getting their education, whether that’s through a program or not.”
According a 2015 BAC report, only about one in four students graduating from business school have the right kind of work experience to start a business, and many are unable to find the kind of support and skills needed to be successful in the field.
“The Bancrodts have the best job-placement rate in the province and the second highest in the nation.
That’s very rare for a place like ours,” said Stronache.
“We need to take a step back and ask ourselves how can we provide more of those jobs to young people?”
The problem is that we have a system where if you’re not able to put yourself out there, and you’re just going to be told you’re going to work your ass off for a living, that’s a pretty bleak outlook,” said Dr. Stronace.
In a press release issued Wednesday, the Bacc program said it is committed to working with the province to improve the graduation rate of students who are from disadvantaged backgrounds.”
In an effort to provide students with the knowledge, tools, and skills to succeed in their careers, the Business School of Carleton is developing a new program that will deliver the best possible career opportunities to students with a broad range of specializations, and will serve as a catalyst to ensure that Carleton students have the skills and the knowledge necessary to succeed,” the release said.
The Bacc has been in the news recently for its controversial decision to drop all four of its programs from 2017.
The program has been criticized for the lack of access to job placement support for students.”
But I think it would be better if it was just the Baca [program] that would have the job placement, rather than one of the four.”