Can you quantify the economic impact of early-stage entrepreneurial education? A long-term study of Swedish Junior Achievement-Young Enterprise (JA-YE) alumni recently addressed that question. The key finding: JA-YE students were 20 percent more likely to start businesses than students from a control group. And their companies tend to do well. JA-YE alumni businesses averaged up to 12 percent higher annual incomes than ones started by individuals in the control group. Those findings echo a Boston Consulting Group study which concluded that Canadian JA-YE alumni make a $105 million annual impact on the country’s economy in the form of taxes and work productivity.
This is all good news for the world’s economy — the global JA program, which is sponsored by FedEx, reaches more than 10.6 million students in 117 countries.