Why entrepreneurship should be taught in schools

Leaving school at 16 to start my first business (Student Magazine) taught me the most valuable lessons that I never would have learnt in the classroom. I’ve taken these through life and used them to shape every Virgin company we’ve launched since.

That’s why I was thrilled to hear that most children in the UK have ambitions to start their own business in the future, and they want to learn entrepreneurial skills at school. The findings come from new research commissioned by Virgin Money.

One of my biggest hopes in life is that education systems around the world realise the value of teaching entrepreneurial skills. So many kids, in particular dyslexic kids, struggle and are deemed failures in school – but could realise their potential if they were encouraged to pursue their passions and their interests and use these to create something.

Branson Family

It wasn’t until I left school that I realised that my wandering mind and short attention span were actually the result of an epic imagination. Being able to use these traits in the real world to start a business allowed me to realise my talents – I wasn’t lazy or stupid like my teachers had told me.

I knew I wasn’t the best writer (dyslexics often struggle with reading and writing) but starting Student Magazine allowed me to learn the art of delegation – I had a brilliant team of student writers to contribute to the magazine. In the same way, I now rely on a fantastic team of accountants that I trust to keep a close eye on numbers across our Virgin businesses. It wasn’t until much later in my career that I learnt the meaning of net and gross profit!

This is why I love Virgin Money’s Make £5 Grow programme, which is designed to develop financial literacy and entrepreneurial skills in 9–11-year-olds across the UK. Brilliant to see more than 200,000 students from over 3,000 schools have joined the programme to date. I loved reading one story from Newport Primary School in England, who have participated in the programme since 2020. Their involvement began when a planned school trip to Northumberland was cancelled due to Covid restrictions. In response, the school set up a school camp-out, which grew into a larger entrepreneurial project. The students have since experimented with various business ideas, including car washing, homemade sweet treats, ice creams, making arts, crafts, and jewellery.

The funds raised from these ventures contributed to a Mini Festival for the students, featuring a silent disco, DJ, ice cream van, pizza trailer, stuntman performances, popcorn machines, and inflatables for the entire school to enjoy. Additionally, the money has been used to purchase scripts and music for the end-of-year school production. This project has not only provided fun and excitement but also fostered a sense of responsibility and teamwork among the students.

Starting Student Magazine also helped me realise the kind of leader I am. I can see the big picture, using my dyslexic thinking skills. My dyslexic thinking also makes me a people person – I like to chat my thoughts through. Still to this day, I place great importance in spending time with customers and employees, hearing their thoughts on how our businesses are running, and taking on their feedback to make it better.

Importantly, through Student Magazine, I proved to myself from an early age that business can be a tool to change the world for good. The publication was designed to give young people a voice and to share issues we cared about, from protesting the Vietnam War to debating the state of education. This has helped shaped Virgin’s brand purpose – changing business for good.

Image from Virgin.com

It’s our why – the reason for being that everything else follows on from, whether airlines, banks, spacelines, health clubs or rewards clubs.Sadly, schools don’t teach the art of delegation, imagination, and innovation. Kids aren’t taught the value in failure, or how to figure out your purpose. The (young) people have spoken, now it’s time for schools to catch up!

Reading the full findings from Virgin Money’s research here.