A COMPARATIVE ANALYSIS OF ENTREPRENEURSHIP EDUCATION IN THE UNIVERSITIES OF HUNGARY AND PAKISTAN – CURRENT STATE OF AFFAIRS, PROBLEMS, CHALLENGES AND RECOMMENDATIONS FOR THE FUTURE

Entrepreneurship education is the most important element in stimulating and motivating graduates to become entrepreneurs. Entrepreneurship education helps in developing knowledge, skills and abilities of the young entrepreneurs. This study focuses on a comprehensive comparative analysis of the current state of affairs, problems and challenges associated with entrepreneurship education in the universities of Hungary and Pakistan. An overview of the most relevant theories about entrepreneurship education is followed by a synthesis of the facts and figures related to entrepreneurship education, new venture formation, obstacles and hurdles in the field of entrepreneurship and graduate entrepreneurship in Hungary and Pakistan. The qualitative research methodology is employed for the content analysis of entrepreneurship curricula available in the selected universities of Hungary and Pakistan. Lack of motivation to become entrepreneur is because of the insufficient information, skills and knowledge about starting a new business. Universities need to launch more comprehensive entrepreneurship courses. These courses may be designed and taught in such a manner to provide both theoretical and practical knowledge and skills for starting and managing business ventures. Few universities both in Hungary in Pakistan have the business incubation centers. There is a dire need of establishing business incubation centers or entrepreneurship development centers by the universities. Entrepreneurship education for entrepreneurship needs well-coordinated efforts by the universities through collaboration with government bodies, entrepreneurs, business houses and trade & commerce associations such as chamber of commerce and industry. Some other recommendations are also made for improving entrepreneurship education that helps in stimulating and motivating graduates to become entrepreneurs.