By Daniel Hunter

The education system in the UK is failing the country's future entrepreneurs, according to a report submitted to Business Secretary Vince Cable.

Based on a Unleashing British Business forum organised by Smith & Williamson, Cubitt Consulting and The Centre for Entrepreneurs, the report calls for school curricula to encourage students to think more actively about entrepreneurship.

Sherry Coutu CBE, an entpreneur, business angel and non-executive director, who chaired a panel at the forum, said: "It's vitally important that children acquire skills for the opportunities that will be there for them when they graduate - the most effective way to do this is to bring entrepreneurship into the classroom."

Smith & Williamson's report states that young people are now more like than ever to set up their own business - a statement agreed with by 95% of delegates at the forum.

Guy Rigby, Head of Entrepreneurial Services at Smith & Williamson, said: "The increasingly entrepreneurial culture in the UK has the potential to bring huge benefits to our society, but things need to change.

"Our outdated methods of education fail to recognise the full potential of an increasingly savvy generation. There is also need for a supportive ecosystem for start-ups and scale-ups, which is why we are urging Vince Cable to bring back the Corporate Venturing Scheme, which proved to be the right tool at the wrong time. For the sake of the British economy, our Davids and Goliaths need to be more closely together."

The report also calls for family-friendly tax policies, the re-introduction of small business tax rates, the removal of red-tape to encourage the self-employed to recruit and greater investment in infrastructure outside of the UK's major cities.

You can tweet your reactions to @freshbusiness or email

Join us on
Follow @freshbusiness