The results of a study published today, and reported on by business publication Inc, may help sound the wake-up call to cities and towns who are interested in making economic gains.
The message: Fix your schools first.
Start-Ups More Successful in Cities with Fewer High-School Dropouts
The education level of local populations can have a direct impact on business success, new research shows.
Start-ups that are based in cities and towns with low high-school dropout rates and a high percentage of residents with college educations have greater survival rates than those located in areas with less-educated local populations, according to a new study from the School of Public Policy at George Mason University.
"My view has always been that it's hard to get a job if you're unskilled and uneducated than if you're skilled and educated," said Zoltan Acs, lead author of the paper, which will appear in Papers in Regional Science. Why should that be any different for starting a business?"
Although high school and college do not necessarily teach individuals how to start a business, education does provide future entrepreneurs with relevant skills such as how to meet people, perform analyses, and make contacts, Acs explained.
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