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Beyond CSR: Could your business benefit from taking on an apprentice entrepreneur?
Beyond CSR: Could your business benefit from taking on an apprentice entrepreneur?
Written by
UnLtd employee
UnLtd position
Beyond CSR: Could your business benefit from taking on an apprentice entrepreneur?
Written by
UnLtd employee
UnLtd position
This is the second in a series of blogs from UnLtd’s Corporate Engagement Manager Julie Nicholson, exploring how organisations are moving beyond traditional CSR models to embed social impact in their organisation. In this post for national apprenticeships week, we look at how employers can benefit from becoming involved in the new Apprenticeship for entrepreneurs and social entrepreneurs. In some sectors, apprenticeships have long been an established route to success for young people, providing mutual value for employers and apprentices and a clear vocational alternative to traditional academic journeys. Until now, there has been no such pathway for budding entrepreneurs and social entrepreneurs, despite an increasing appetite among young people ambitious to start their own ventures – with just under half of all young people (47%) aiming to start their own business according to the RBS Enterprise Tracker. That’s set to change as last week the Department for Business, Innovation & Skills announced that it had approved a new national apprenticeship standard for entrepreneurs and social entrepreneurs. The approved standard defines the knowledge and skills that an apprentice will be expected to have, and the behaviours they will demonstrate by the end of their apprenticeship. It’s been developed by UnLtd in conjunction with a number of existing employers, and includes a specific pathway for social entrepreneurs – young people who are keen to put a social or community objective at the heart of their venture. So what will an apprenticeship for entrepreneurs look like in practice? Setting up a business presents different challenges to working within an established organisation. These include keeping track of finances, business planning and strategy, developing a brand, hiring and managing staff and conducting market research. The new apprenticeship in entrepreneurship and social entrepreneurship will provide the foundation for young people to learn and develop these skills in a professional setting, with the knowledge that on completing the apprenticeship programme, they can go it alone. This is a brand new approach to apprenticeships and it has the backing of a number of large employers, including Deutsche Bank, PWC and Santander. These organisations see an opportunity for innovation in taking on entrepreneurial apprentices who can bring a different perspective to their business. The apprentice will acquire important skills and knowledge around business operations, while the employers get the benefit of fresh ideas on how to look at business challenges. With young people reporting that they are increasingly interested in creating social change, apprentices could even start to influence the way business is conducted, finding new ways to help organisations create social impact alongside financial sustainability. “We were pleased to be able to contribute to the development of the new apprenticeship standard for entrepreneurs. Given Deutsche Bank’s focus on enabling talent and supporting early stage enterprises for social good, we consider this apprenticeship to be a credible alternative for employers who want to harness innovation within their organisations, improve their supply chain and help build important skills for young people towards future career opportunities in an ever-changing economic landscape.† - Nicole Lovett, Head of Corporate Citizenship UK, Deutsche Bank In reality, employers who take on apprentices will get the opportunity to choose from different educational models – defining how they want to work with apprentices to give them - the skills and knowledge they need to become an entrepreneur or social entrepreneur. It is likely to be piloted from early 2017 as a level 4 standard which will be completed over 24 months. Models for the apprenticeship could include: The new apprenticeship could be the catalyst for a rise in new social entrepreneurs, reducing unemployment and ultimately creating significant social impact. It will give employers an opportunity to diversify their workforce, harness innovation and be at the forefront of a new way of working. If you’re an employer who is interested in supporting the apprenticeship for entrepreneurs, fill out the form below or get in contact with [email protected]Loading...