Frontpage News 2015 Increasing interes...

Increasing interest in European Business Game participation

29 April 2015

​A new study, conducted by the Danish Bankers Association, shows that the interest in entrepreneurship is high among the young EBG participants around the Danish upper secondary schools. About 50 per cent of the young people in the study have a desire to become an entrepreneur.
 
The central point of EBG is entrepreneurship and collaboration outside the usual classrooms between upper secondary schools, local companies and banks, which e.g. provide consultants and counsellors to help students in their work with topics, such as product idea, management, budget and marketing.
 
“With EBG, we provide students with a unique opportunity to take on the role of an entrepreneur, and they become acquainted with the business community,” says Louise C. Mogensen, Deputy Chief Executive at the Danish Bankers Association, which is the main sponsor of the Danish part of EBG.
 
That many young people dream about becoming an entrepreneur is also reflected in an increasing interest and participation in EBG. Since 2010, the number of participating teams in the Danish version of EBG has almost doubled.
 
This year, 289 teams from 47 schools participate with their business ideas in the competition. In 2010, the number was 128 teams from 33 schools.
 
At the Danish Commercial Industries Federation, which is co-sponsor of EBG, the Director Lars William Wesch hopes that the students’ interest in entrepreneurship will continue beside EBG.
 
"Denmark needs talented entrepreneurs, who can contribute to innovation, economic growth and job creation. I hope that the efforts surrounding EBG will whet the students’ appetite for starting their own business,” says Lars William Wesch.
 
Source: The Danish Bankers Association.
Note: The figure shows the number of schools and teams, who have submitted a project report by deadline.
 
 

Entrepreneurship is a strong driver of economic growth and job creation

Entrepreneurs are important for the Danish society and the economy in general, and especially growth entrepreneurs contribute with great value creation and new jobs.
 
According to figures from the Danish Business Authority, new companies account for almost half of the net job creation in Denmark. By definition, growth entrepreneurs create relatively more jobs than other new companies.
 
During a three-year growth period, a growth entrepreneur thus creates 15 new jobs on average, or what corresponds to three times as many jobs as other new companies with the same size
in the beginning of the growth period*.
 
“We experience that new growth companies create far more jobs than other new companies and established companies, and thus present a high economic growth and employment potential,” says Deputy Chief Executive Louise C. Mogensen, who is very pleased about the Government’s proposal for a new upper secondary school reform, which e.g. emphasizes that innovation and entrepreneurship should become more integrated in the subjects and test forms at higher commercial examination programs around the country**. 
 
"It is positive that the Government in its proposal for a new upper secondary school reform has increased the focus on innovation and entrepreneurship. This can help enhance the young people’s financial literacy and create a larger and better entrepreneurship culture, which is of great value for society,” says Louise C. Mogensen.
 
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Facts about EBG:

The Entrepreneurship competition European Business Game
European Business Game (EBG) is an international competition for upper secondary school students. In Denmark, almost 1,418 students from the country’s upper secondary schools participate. EBG originated in Italy and has now existed for 24 years in Denmark.
 
EBG follows the school year and runs from September to April. During the period, the students must in project groups of 3-5 people create a fictitious company and go through the entire process from idea and business plan to market research and financing plan.
 
In the process, the students get the opportunity to have a dialogue with local banks and companies, which provide consultants and counsellors. In this way, the students gain insights into the problems, requirements and tasks, which are part of starting one’s own business, including topics such as: management, marketing, strategy and budget.
 
During April, the 14 semi-finalists were found. Subsequently, their business plans were assessed by a jury that sent the top 8 teams to the Danish final on 30th April in Copenhagen at Finanssektorens Hus. The winners of the Danish final will proceed to the international final on 2nd July in Croatia.
 
In Denmark, the Danish Bankers Association, the Association of Teachers of Business Economics at STX (FLE), the Association of Teachers of Business Economics at HHX (DRØF), the Danish Ministry of Education and the Danish Commercial Industries Federation are behind the competition.
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”Iværksætterindeks 2011”, Danish Business Authority. The data is from the growth period 2005-2008.
** ”Gymnasier til fremtiden – Parat til at læse videre”, Government, December 2014
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