The rise in self-funded learning generates more entrepreneurs

The pandemic not only changed the world of work and the way we live, but it also impacted the way we perceive our place in it. 

The rise in self-funded learning generates more entrepreneurs

The pandemic not only changed the world of work and the way we live, but it also impacted the way we perceive our place in it. 

There are people across the globe who have become dissatisfied with their 9-to5 jobs, working tirelessly for someone else to receive a mediocre salary. They’ve taken action to research and explore ways to improve their skill set and start their own business ventures. 

The world of education technology (EdTech) has facilitated this shift, as online platforms were created that offer people tailored courses to enhance their existing skills or create new ones. The reality is that pre-pandemic, we relied heavily on instructor-led and on-the-job training within the workplace and then the pandemic pushed everyone into e-learning, where a multitude of courses became available, designed to upskill or reskill the learner.

According to a recent report carried out by Holon IQ, a global edtech research company, the EdTech industry is growing at a 16.3% compound annual growth rate (CAGR) and will grow 2.5x from 2019 to 2025 to reach $404 billion in total global expenditure. 

The report states “In addition to EdTech’s primary role supporting the formal education sector, B2C EdTech models are also on the rise as students, parents and workers increasingly seek learning support and up-skilling for supplemental and/or more direct academic and career outcomes.”

This e-learning movement has enabled people who are motivated to start their own businesses to form or join global online communities, with other like-minded people and share ideas, learnings, and best practices. The digital world of learning crosses country borders, language and cultural barriers to unite purpose-driven people and enable them to realise their true potential.

Because of the increase in online educational content available, we are seeing a surge in the number of online students, and this has generated many new entrepreneurs across the world. The huge advancements in technology mean that many people will need to develop their skill set to meet the demands of the jobs of the future, or potentially find themselves jobless. 

E-learning provides self-funded, budding entrepreneurs with the opportunity to choose the best courses and programmes, playing to their strengths and using technology to enhance their learning experience. These are the people who will create their own jobs and pathways to success, many of whom will become the business leaders of the future.

So how will this increase in entrepreneurs impact our society and the economy?

Entrepreneurs create job opportunities, not only for themselves but also for others. Entrepreneurial activities can have an impact on a country’s economic performance by introducing new products, systems, and manufacturing processes to the market, as well as increasing productivity and competition. 

However, it isn’t all about the jobs entrepreneurs can create, it is also about the mindset they can bring to the global economy. It’s crucial that people identify and understand their strengths, their passions, personal barriers, and what they really want to do to achieve long-term contentment and financial freedom. To be a successful entrepreneur, the first step is to discover your inner genius, that spark, that will ignite the passion for success.  A profiling tool such as Wealth Dynamics will help you with this.  This will give you invaluable information to start work on your business plan.  

The great thing about choosing to invest in becoming an entrepreneur is that these people will develop a more global mindset for business, which can lead to greater innovations and collaboration. Becoming part of a global community can impact important world issues within social change.

There have been numerous attempts to use entrepreneurship to build a more just and sustainable world, particularly as social awareness among entrepreneurs has increased.

The idea of social entrepreneurship, which has been around since the 1950s, is becoming more widespread. This type of entrepreneurship seeks to benefit financially as well as address societal issues. It has evolved into a strategy for promoting social change within the social justice and entrepreneurial frameworks, but it is different from the typical non-profit model in that it simultaneously pursues financial success and socially beneficial goals. 

It’s not an either/or situation; entrepreneurs can have a positive impact on the world around them and at the same time successfully build wealth.

In times of crisis, there is a huge opportunity for growth; the pandemic and current inflation crisis have led many people to realise their true potential for something greater. Now that EdTech platforms and e-learning resources are widely available, they’ve released massive potential to change the world we live in for the better.

Roger James Hamilton
Roger James Hamilton

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