What if every entrepreneur had access to business education? What would be the impact on prosperity, growth, and employment? This is the presentation delivered by Rajesh Chandy at London Business School's 2015 Global Leadership Summit.

2. What if..
every entrepreneur
had access to business education?
Rajesh Chandy
Tony and Maureen Wheeler Chair in Entrepreneurship
Academic Director, Deloitte Institute of Innovation & Entrepreneurship
Professor of Marketing

3. Entrepreneur
A person who sets up a
business or businesses,
taking on financial risks
in the hope of profit

7. Micro Entrepreneur
owner of a business <=5 employees
generally informal

9. Profoundly Important

12. Micro businesses matter
Employers, taxpayers, productive citizens
Customers, suppliers, distributors

14. What if..
every entrepreneur
had access to
business education?

16. Stephen Anderson-MacDonald

17. What if every entrepreneur had
access to business education?
impact on prosperity, growth,
and employment?
With Stephen Anderson-MacDonald, Bilal Zia

18. Doubts: about business education
Policy Makers
Researchers
Experts
Muhammad Yunus:
“[The poor] do not need us to teach
them how to survive; they already
know. So rather than waste our time
teaching them new skills, we try to
make maximum use of their existing
skills. Giving the poor access to credit
allows them to immediately put into
practice the skills they already know.”
(1999)

22. 832 entrepreneurs
randomly assigned
into 3 groups:
marketing, finance, control
Randomized Controlled Trial

24. Marketing
Training
Control
(no training)
vs. vs.
Finance
Training
Control
(no training)
1 3 2 3
Overview of Study

27. Interventions
- 10 modules (weekly): concentrate on one business function (marketing or finance)
- Focused on changing business behaviors

32. Marketing
Training
Control
(no training)
vs. vs.
Finance
Training
Control
(no training)
1 3 2 3
Results: 18 months later..

33. Marketing
Training
Control
(no training)
vs. vs.
Finance
Training
Control
(no training)
1 3 2 3
Results: 18 months later..
Survival
Marketing:  9.7% Finance:  12.7%

34. Marketing
Training
Control
(no training)
vs. vs.
Finance
Training
Control
(no training)
1 3 2 3
Results: 18 months later..
Profits
Marketing:  86% Finance:  75%

36. Marketing
Training
Control
(no training)
vs. vs.
Finance
Training
Control
(no training)
1 3 2 3
Results: 18 months later..
Sales
Marketing:  69% Finance:  39%

37. Marketing
Training
Control
(no training)
vs. vs.
Finance
Training
Control
(no training)
1 3 2 3
Results: 18 months later..
Employees
Marketing:  62% Finance:  33%

38. Pathways to Profits
vs

39. What if..
every entrepreneur
had access to (quality) business education?

41. • Solve poverty through better business?
What if we could..
• Learn about ourselves through the lives of micro-entrepreneurs?
• Offer (quality) business education to millions of entrepreneurs?

43. Pathways to Profits

44. Thank you
rchandy@london.edu