The UK has, undoubtedly, always been one of the top destinations in the world for higher education, with a wide range of degrees to choose from, be it business, science, technology or the arts. However, in the past few years, a new type of degree, especially in postgraduate study, has emerged – Master in Entrepreneurship. So what is this and why should you consider this pathway in the UK after your undergraduate years? Here, EDUopinions gives you 5 reasons.
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A versatile postgraduate degree for everyone
A Master’s in Entrepreneurship in the UK is a programme for self-starters. Whether you want to start a business or simply want to adopt an enterprising mindset in your chosen profession, this degree can help.
Regardless of your education background, this programme welcomes people with a variety of skills and knowledge. In fact, diversity is its emphasis.
Furthermore, this is perhaps the most creative business-related degree. It is innovative and progressive ideas of all sectors are encouraged, as well as independence and an active attitude towards learning.
Already a specialist with a bachelor degree in marketing, IT, fine art or any other field? Take it to the next level with a Master’s in Entrepreneurship in the UK. You can polish your leadership ability, critical thinking and the confidence to expand your vision of the future in your sector – some of the most sought after traits in the working world of the 21st century.
Practicality and experience of the real world
One of the key aims of higher education is to ensure students are work-ready after graduation. However, this is an expectation many degrees find difficult to fulfil, due to their theoretical approach.
With a Master’s in Entrepreneurship in the UK, there will be plenty of opportunities for trial and error in a safe environment to prepare you for future careers. This programme normally includes hands-on modules regarding different aspects of starting a business; interdisciplinary group projects, as well as pitches to industry experts and investors.
The structure of this degree will not only help you reflect on the practical applications of what is learnt but also your interpersonal skills and the ability to proactively step out of your comfort zone on a regular basis.
‘It’s not just about what or who you know, it’s also about who knows you’
Confidence and networking skills are undeniably essential to growth, especially when it comes to professional development.
Being a student of a Master’s in Entrepreneurship, you will be surrounded by like-minded and ambitious people with different specialities.
This course is an ideal place to connect with industries outside of your own and to discover unexpected opportunities beyond your horizon. There will also be plenty of interactions with experienced entrepreneurs, whom you can learn from and perhaps, even collaborate with. Frequent contact with people from all walks of life surely will enhance your confidence, communication and ‘personal brand’, or in other words, how you are perceived by others.
The UK is a friendly environment for startups
The UK is ranked 2nd globally among the most startup-friendly countries, and London is the 6th best city in the world to start a business. This makes the prospect of creating your own enterprise after study highly promising.
By the end of 2016, 657,790 startups were launched and within the past 5 months of this year, 2019, there have been 279,919 new startups, according to StartUp Britain’s tracker.
One main reason for this high rate is the large amount and good quality of accelerator programmes available, especially for young entrepreneurs just starting out. For instance, SeedCamp, Entrepreneurial Spark, Design Council Spark (design industry), ASOS Accelerator (fashion or fashion technology), The Sirius Programme (international entrepreneurs), Santander Entrepreneurship Awards and many more.
No matter what sector you are planning to venture into, with some research and help from the staff of your degree, there will be various choices of support or mentorship.
Fundings and resources available
There is a tremendous amount of fundings and resources invested in startups in the UK, as long as your idea is proven viable. These financial boosts could range from as little as a few hundred pounds to a few hundred thousand. This depends on the scale of your business, its potential for expansion and in most cases, your capacity as an entrepreneur.
Furthermore, crowdfunding is also an option for ‘skilled influencers’ who know their audience; through social media and platforms like Crowdfunder, Crowdcube or Seedrs. Seeking funding and resources is one of the main focuses within a Master’s in Entrepreneurship, as it is about more than monetary value, but also about the ability to bring your business out into the real world, to re-evaluate the market’s needs and to connect with your customer base.
This master’s degree is certainly an advantage, especially for those without a business background, to gain the foundation understanding of what a startup is about and more importantly, to explore whether running a business after study is for you. Either way, entrepreneurship, is a combination of transforming qualities like leadership, organisation, open-mindedness and commitment, not only in the workplace but also in life.
If you’d like to see our list of the most affordable masters in entrepreneurship, take a look at this article.