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PASSHE seeks funding to boost entrepreneurs, small business workers
Listen to this articlePennsylvania‘s State System of Higher Education (PASSHE) is seeking state funding in the amount of $112 million to address the state’s need for entrepreneurs and small business workers.
Funding would be used to train students in six in-demand, high-growth jobs, business among them. PASSHE universities would invest $19 million of the $112 million to provide direct financial aid in the form of university-funded scholarships to business students. The scholarships would save students an average of $5,000 per year. To serve more students, an extra $2 million would be used to enlarge business programs.
PASSHE Chancellor Dan Greenstein said in a statement that for Pennsylvania companies to be successful in a competitive marketplace, they need employees with business training and skill.
“The combination of their knowledge, passion, and dedication helps to drive the commonwealth’s economy and create sustaining jobs,” said Greenstein.
Greenstein added that unless more low-and middle-income students can afford the education they require, Pennsylvania will struggle to fill needed jobs.
“Investing in our students to reduce their cost to a business degree will unlock the door of opportunity for more Pennsylvanians and expand the pipeline of talent from the classroom to main street and rural communities,” said Greenstein.
PASSHE stated in a press release that Pennsylvania needs approximately 8% more business professionals by 2030. Filling those jobs will require employing thousands of additional people with knowledge gained by a business degree.
As large corporations impact significantly economic growth, employees with strong business skills are highly sought after. The same is true of small businesses, which number 1.1 million in Pennsylvania, employ nearly half of the state’s private sector workforce.
“State system universities are ready to partner with the governor and legislature to educate more business professionals and entrepreneurs,” Greenstein said.
