MSc Enterprise and Business Creation

"Everything we learn goes into the business plan. There’s a reason for getting up at 9am and attending every lecture! I’ve learnt so much in my time here to better equip myself in running a business"

In their words

My story so far by Matthew West

Read It

Video

What is branding? Norwich Business School continues the debate… watch our video, share the knowledge.

Watch It

Article

Loving what you do is key to being a successful entrepreneur. Change the world with your idea – 10 tips on launching a startup (photo credit: Emmanuel Huybrechts via flickr)

Read It

Key facts

(REF 2014)

Discover how to turn an idea into reality with this distinctive course and realise your path to self-employment, venture creation and business growth.

Whether you want to launch your own start-up, develop new products and services for an established organisation, or grow your family business, on this course you’ll discover how to achieve your goals. Over 12 months of intensive study you’ll receive hands-on training, discovering how to identify business opportunities, evaluate and develop business ideas and craft your entrepreneurial skills.

This course offers a unique opportunity to experience what it is like to start and grow a business from scratch. You’ll have the chance to round off your entrepreneurial skills by immersing yourself in the day-to-day running of a start-up.

You will be based in UEA’s award-winning Enterprise Centre, at the heart of a growing community of aspiring entrepreneurs. You’ll even have the chance to secure investment for your venture.

Overview

You don’t need to have studied business or started a business before to excel on this course. We welcome students from all academic backgrounds. You just need to be proactive, creative and hardworking. Many successful businesses globally are family-run and we welcome students with a family business background. International students are an essential and valuable part of our community, and we welcome applications from overseas.

MSc Enterprise and Business Creation is very much focused on practical application of theory and development of entrepreneurial know-how. Think of it less as a traditional MSc and more as your chance to develop a business with expert and tailored support whilst gaining an MSc along the way. This course is designed to help you understand how to create a value proposition, and then how to iterate, validate and pitch your business idea.

The course delivers a holistic, interdisciplinary view of early-stage entrepreneurial activities, adopting a collaborative working format between academics from all four UEA Faculties, as well as business founders, mentors and angel investors. This enables you to get vital, sector-specific insights that are relevant to your business.

You will learn how to communicate your business idea to a range of potential stakeholders. This ability to successfully pitch your ideas is vital not just when seeking investment, but also when persuading partners, staff and even customers to believe in your idea and come with you on your journey.

On this course you’ll be part of a thriving community of entrepreneurs from all over the world. During your studies you’ll work on a range of group entrepreneurial activities that will enhance your understanding of the business world, challenge conventional thinking. This group work means you’ll not only learn from staff, guest lecturers, mentors, and potential investors, you’ll also learn a great deal from your fellow students.

You’ll also have access to UEA’s Entrepreneur-in-Residence, Jacyn Heavens, founder and CEO of EPOSNow – one of the fastest growing companies in Europe.

You will not only graduate with a plan for turning your business idea into a reality - you’ll also leave with the skills, confidence and motivation to repeat the process with future ideas.

Course Structure

Semester 1

Beginning in September, your first semester will see you discovering the fundamentals of business creation. You will establish an entrepreneurial learning framework and explore the beginnings of the venture creation process.

You’ll learn the process of creating a new business, explore the potential of your market and the funding requirements of your venture, and you’ll discover how to raise investor funding. You will learn through real-life case studies and a unique combination of academic and practitioner knowledge.

At the end of your first semester you’ll submit a first draft of your business plan, accounting plan and marketing plan. You’ll then receive developmental feedback, helping you identify strengths and key areas for improvement. You will then apply for seed-corn funding through the Santander Universities Award.

Semester 2

In your second semester you’ll have the flexibility, choice and the opportunity to move from planning a business to actually running it. You have a choice of modules which all draw on the competencies of UEA and expertise of key partners.

You will learn the principles and best-practice approaches of managing entrepreneurial and early-stage organisations. You’ll build essential project management skills. And you’ll learn about the legal requirements of your business, customising your learning to your chosen business field.

At the end of your second semester you will be proficient in pitching and ready to validate your ideas. You’ll be confident to move towards the final stage of your entrepreneurial journey.

Semester 3

Uniquely in a course of this nature, you will have a choice of four exit routes in your third semester. The fourth option enables you to extend your total course to 18 months:

Route One– if you wish to continue your business education after you graduate, this option allows you to take a number of modules offered by Norwich Business School.

Route Two– if you’d prefer to spend some time on business research before starting your own business or joining your family business, this route provides two options:

Researching some aspect of your own business, before presenting a dissertation, or

Providing consultancy on behalf of an existing business, culminating in the presentation of a report.

Route Three– on this route you will create your final Business Plan, before presenting it to potential investors and mentors to gain investment, feedback and support.

Route Four– on this route you have the unique opportunity to secure investment to launch your business. If you are one of our ‘prize-winning’ students, you will remain in the Enterprise Centre, rent-free, for a further six months, with supported incubation, to ensure your business hits the road running. This is a once-in-a-lifetime opportunity that enables you to extend your total course to 18 months (visa conditions may apply).

Whichever route you take, your learning will be complimented by bespoke workshops for entrepreneurial skill development, ‘meet the entrepreneur’ networking sessions and start-up support masterclasses throughout the year.

Teaching and Learning

Over this 12 month intensive course you’ll be constantly challenged to build your knowledge and develop entrepreneurial skills. You’ll learn through a combination of lectures, workshops, seminars and practical, hands-on experiences. You’ll learn from lecturers, guest speakers and researchers, from all four UEA faculties. You’ll also learn from your fellow students, and by doing your own independent study.

We aim to ensure your taught classes are concentrated over three days, leaving you four days a week to dedicate to your business and other activities.

All our teaching is informed by the latest research and real-world business experience. That means you benefit from the latest thinking in the industry. Business is ever-changing, so you won’t just learn to understand, evaluate and utilise the leading theories of today, you’ll also develop the critical skills needed to examine and put to use new theories and methods that come to the fore during your career.

Assessment

There are no exams on any module on this course. You will be assessed on coursework designed to address key aspects of your business idea and build up your understanding of venture creation. You’ll receive valuable feedback throughout.

After the course

You will graduate ready to make your business idea a reality and create your own start-up. Alternatively, you might work within another business driving innovation. Or you might return to your family business ready to take the reins, or develop new products and services. Whichever direction you choose to go in, you will have the knowledge, skills and confidence to conduct business in a way that’s creative, disruptive and innovative.

Post-graduation, you have the opportunity to continue working to secure large-scale funding via the UEA Enterprise Fund. This typically applies for students taking Route Four in their third semester.

Our graduates have gone to start businesses in a range of industries including food and drink, energy, fashion, digital marketing, consultancy. They have also participated in technology accelerator programmes, created new products in existing businesses and expanded their family business to new markets.

Career destinations

  • Entrepreneur
  • Start-up founder
  • Family Business expansion
  • Corporate intrapreneur – expanding an existing business
  • Consultant
  • PhD

Course related costs

Please see Additional Course Fees for details of additional course-related costs.

Course Modules 2019/0

Students must study the following modules for 60 credits:

Name Code Credits

ACCOUNTING AND FINANCE FOR START UPS

A successful business start-up is dependent on the ability of the entrepreneur to manage money. This involves two main activities; firstly the company has to attract finance to fund its development, operations and growth; and secondly the company will need to ensure that the money is managed properly. The module will ensure you understand the importance of maintaining accurate accounting systems in order to be able to demonstrate to stakeholders (including investors) that you are able to manage their money. This will be taught through the use of accounting software and excel spreadsheets, which you can go on to use for your own business. The financial decision-making tools and valuation techniques will be taught in the module, which will help you make the right capital budgeting decisions for kick-starting their business. Both internal (e.g. working capital) and external (e.g. business angels and banks) funding sources will be covered. You will have the opportunity to participate in workshops with financial investors providing both equity and debt, in order to learn what the key success factors are for winning funding pitches. Please note this module is only available to NBS MSc students.

NBS-7057A

20

BUSINESS: WINNING AND THE ART OF

You, and you alone, can decide to start a business. And you can start any business that you want. However it is the market (not you) that will decide if you've started a good business. Grounding our new business in the reality of the future (not current) market is the foundation to your success. We live or die by the decisions of the market. If we are good we thrive, if not#.well, we don't want to go there. We need to know what the future world wants/needs/will pay for. We need to know if the market potential is enough to justify our starting the business. We need to know how we will compete. We need to know who we want to compete with. We need to know how to position our business in the market. To brand. To seduce customers. In short, we need to know how to win. Two connected disciplines that we use to determine our fate are strategy and marketing. Strategy is about creating the future and managing our future development and most important of all, strategy is about winning, about achieving sustainable competitive advantage. Strategy is about creating a purpose for our business. Marketing is communicating our purpose to the customers we chose (and we choose our customers; not the other way around). Remember it is not the best products or services that win, usually it is the best marketed products or services that win. Drawing on theories, models, real case studies and real experience, this module develops you as a strategist and marketer in your creation of a business that will win.

NBS-7060A

20

ENTREPRENEURSHIP AND BUSINESS PLANNING

This foundation module aspires to provide you with practical understanding of entrepreneurship in all of its complexity and variety. The aim is to re-create key aspects of real-life entrepreneurial thinking by using design thinking, business model analysis, new venture and idea pitching exercises as an experience-based entrepreneurial learning framework. You will be introduced to the precursor elements of the venture creation process and the module is organised in a way to facilitate and further develop these elements. The module's ambitious agenda to cover practical issues related to the creation of an entrepreneurial venture together with research informed evidence on enterprise creation, is also complemented among others from: - Case-based examples of real-life enterprise creation - Entrepreneurial skill development - Networking opportunities - Seed corn funding opportunities The module is delivered via weekly, 2-hour lectures and 2 hour seminars. Research-informed thinking delivered in lectures will be practically applied during the seminars in a platform facilitating entrepreneurial problem-solving and the business plan development process.

NBS-7059A

20

Students will select 60 credits from the following modules:

Name Code Credits

BUSINESS OPERATIONS AND PROJECT MANAGEMENT FOR ENTREPRENEURSHIP

Operations and project management are at the heart of all businesses, whether large or small, in manufacturing or services, serving consumer or business markets. While operations management mainly deals with repeated activities, project management deals with one off activities. However, there is considerable overlap between the two disciplines. The aim of this module is to provide an introduction to these two closely related disciplines that is tailored to the needs of entrepreneurs and new business start-ups. Therefore, while you will learn from the breakthroughs and innovations of the largest multi-nationals - such as lean production, big data, digitalisation, sustainable processes, nascent and emerging supply networks, and agile project management - we will tailor the insights that we can gain and the lessons that we learn for entrepreneurial start-ups and early stage organisations.

NBS-7061B

20

CREATIVE ENTERPRISE - BUSINESS PLANNING FOR THE CREATIVE SECTOR

In this module, you will identify your financial, social and creative priorities and progress your career ambitions by understanding the dynamics of entrepreneurship, creating individual pathways and developing entrepreneurial capacity to explore how business creation may work in the Creative Industries. You will apply the key components of enterprise, in setting up a new creative venture or business involving business planning and strategies for the Creative Industries. You will focus on raising your enterprise awareness, capability and effectiveness to develop and sustain your own business venture with an innovative mind-set and by applying new routes to market in a commercial context.

NBS-7067B

20

ENTREPRENEURSHIP IN AGRITECHNOLOGY AND INDUSTRIAL BIOTECHNOLOGY

Contemporary scientific research is providing increasing opportunities for entrepreneurial change to catalyse socioeconomic benefits. The Norwich Research Park includes UEA and several independent research institutes that together house world-leading science researchers and entrepreneurs, with particular strengths in the agricultural and biotechnological sectors. From this module you will learn from scientists turned entrepreneur and will be supported in your endeavours to develop a broad base of relevant knowledge and skills. Interactive discussions will be held with entrepreneurial leaders drawn from the Norwich Research Park and beyond and this will grow your knowledge of the spin out technologies developed from basic science research, particularly for industrial biotechnology and agriculture. Discussion and evaluation of several case studies will review how they address a number of global challenges, including food and energy security, healthy ageing and the fight against rising antimicrobial resistance. THIS MODULE IS ONLY AVAILABLE TO NORWICH BUSINESS SCHOOL MSC STUDENTS.

NBS-7068B

20

ENTREPRENEURSHIP IN GLOBAL HEALTHCARE

Entrepreneurship in Global Health and Social Care (EGHSC) is a module focused on ensuring that students are capable of spotting opportunities and catalysing entrepreneurial change in the health and social care sectors for the benefit of patients. The emphasis is placed on students demonstrating their entrepreneurial capacity by working collectively to deliver Norwich's third Health Hackathon. Based on the Kauffman Foundation / MIT model (http://hackingmedicine.mit.edu/), as the capstone of the module, students will create and deliver a Hackathon event that brings together multidisciplinary stakeholders from across the regional health economy focused on driving innovation and enterprise in areas of unmet clinical need or where service provision is not optimised. Students will be supported in their entrepreneurial endeavours by developing a broad base of relevant knowledge and skills. The module will depend on a programme of interactive lectures; students will then engage in discussions in the classroom to consolidate their lecture-based learning. Furthermore there will be a minimum of three seminar sessions from entrepreneurial leaders drawn from across the health economy which will grow students' awareness of emerging trends and the nature of entrepreneurial ventures in both the developed and developing worlds. These entrepreneurs will outline their entrepreneurial journey in person or via Skype. There will also be an off-site visit to an entrepreneurial provider of healthcare if students elect to engage with this route (if they do not there will be a fourth seminar from an entrepreneurial healthcare leader) where contemporary issues in healthcare will be explored. Students will also be required to engage with four Harvard style case studies exploring a variety of health-related enterprises in-depth e.g. social enterprise mediated healthcare delivery, medical device development; entrepreneurial change in existing healthcare settings. Through forensic pre-reading and relating the content to their wider MSc studies we will explore the content through a critical lens, and scrutinise the decision making of the key proponents within the case studies. These problem-based cases will require students to articulate their learning in clear, concise and entrepreneurial ways. Finally, students will be play a central role in seven one hour interactive enterprise skills sessions that will support their development of the Hackathon event. These sessions will bring together concepts central to entrepreneurial event creation.

NBS-7066B

20

NAVIGATING THROUGH THE RED TAPE

This modules introduces business students to the discipline of law insofar as it relates to conducting business in England, and as such adopts a "business facing" rather than "law-facing" approach. It is modeled on the assumption that students taking the module lack a background in law and its fundamental concepts and the overall objective is not to provide detailed legal knowledge in any particular area, but rather to help students identify where potential legal issues, risks or problems can arise in the general context of running a business (and then in relation to specific business practices) and to develop a sense of when and where proper legal advice is required. THIS MODULE IS ONLY AVAILABLE TO NBS MSC STUDENTS

NBS-7065B

20

PLANNING AND RUNNING YOUR BUSINESS

Planning your business is a critical mission. But at that stage they are just that; plans. Equally critical is our ability to turn these plans into reality that requires sound knowledge and skills in project management, while drawing upon knowledge management theory to shape our thinking as we operationalise our business. This module will draw heavily upon the teaching of existing entrepreneurs and business owners in exploring risks and realities in taking a plan into action.

NBS-7062B

20

Students will select 60 credits from the following modules:

Name Code Credits

BUSINESS LEADERSHIP AND CHANGE MANAGEMENT

How do organisations change and develop, and how do the workers respond to change? Why do projects fail to deliver the intended results, or come in over-budget or late? These questions are essential to the study of organisations' growth and survival. Organisations are not static, and you are likely to find yourselves in organisations that are undergoing change. Throughout this module you will discover a wealth of different approaches to achieving change. You'll gain a firm understanding of both the practice and theory of leading and managing change in contemporary organisations. You'll also learn how to communicate ideas, principles and theories, by written, oral and visual means. You'll begin with an overview of how organisations are managed and lead. Then you'll delve deeper, uncovering core concepts such as planned and emergent change. You'll be exploring the leadership of change as a collective activity that can be shared among different people, and you'll be finding out ways in which the leader, the followers, and the practice of leadership can become one in 'co-creation'. By using different tools to analyse the organisation within its environment, you'll become expert in finding what needs to be changed, and deciding how change can be achieved. You'll learn through a mixture of lectures, seminars, and self-directed study. As you study you'll put your new knowledge into practice, gaining experience in communicating your ideas in small group work, as well as through written work and presentations. You'll be assessed through a group presentation (40%) and an essay (60%). On successful completion of the module, you'll have the knowledge and skills to take leadership studies to the next level, drilling down into specialist areas of your choosing. You'll develop your research, writing and presentation skills. And you'll be able to communicate your ideas more effectively, putting your thinking to the test by sharing it with others.

NBS-7041X

20

BUSINESS PLAN

This practical module will enable you to develop a sustainable business plan for your start-up idea and offers you the opportunity to pitch to a board of investors, similar to real life for start-up funding. Pulling together the subject specific skills and learning from the other modules covering marketing, planning, budgeting, finance and legal aspects, you will now focus on the opportunity your business offers to its target audience, be it an investor, a partner or new staff. You will be taught the skills to structure and present your ideas in a clear and coherent way both in writing the plan and the summary documents, as well as using video and social media, and will learn how to tailor the business plan to your target funder. Whether this is a bank, a business angel, a grant awarding body or a crowdfunder you will have the opportunity to present to them and receive personal feedback on your pitch.

NBS-7070X

60

BUSINESS RESEARCH

This module provides you with the opportunity to undertake in depth research into a business subject, via exit route 2 of the MSc. This research activity will take place over the 12 weeks of the third semester and will address a business issue. The context of that issue will allow you to choose the nature of your research and the final presentation of your work: Option 1 - is to produce a dissertation The dissertation element of the Masters programme offers you the opportunity to demonstrate your ability to carry through an independent piece of research on a subject of your choice in greater detail than any taught element of the course can offer. It allows you to develop and display your skills in independent research and depth of knowledge of a particular area of research. The module is intended to provide evidence of your ability to research and develop ideas with occasional supervision from a nominated member of faculty to ensure that the chosen area covered is being explored to its potential. The dissertation should draw from material from other modules within the MSc Programme. Your dissertation will be on a business subject likely in the context of your business idea. Option 2 - is to produce a piece of consultancy work This involves identical volume and level of work and with the same academic supervision but the context differs in that you will undertake your business research on behalf of a client. This provides you the opportunity for gaining valuable insights into a business issue within a business environment. While you will work on a research issue of the clients' choosing (not yours) the module organiser will seek to provide consultancy opportunities in areas of interest to you (and maybe your business idea). The research will provide you the opportunity to learn and practice business skills relevant to your future business.

NBS-7085X

60

INTEGRATED BUSINESS DECISIONS

This is a module with a twist - building on core skills such as team-working, marketing, accounting and strategy, you'll apply your knowledge and work in teams to win different 'games' - the military has previously used such games to teach strategy and tactics. Updated to reflect the international business environment, you'll be using each game as a way to embed your knowledge and see if your team emerges as the winner! THIS MODULE IS AVAILABLE TO NBS MSc STUDENTS ONLY.

NBS-7034X

20

Disclaimer

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring, review and update of modules and regular (five-yearly) review of course programmes. Where this activity leads to significant (but not minor) changes to programmes and their constituent modules, there will normally be prior consultation of students and others. It is also possible that the University may not be able to offer a module for reasons outside of its control, such as the illness of a member of staff or sabbatical leave. In some cases optional modules can have limited places available and so you may be asked to make additional module choices in the event you do not gain a place on your first choice. Where this is the case, the University will endeavour to inform students.

Further Reading

  • Norwich Business School Blog

    The official blog of Norwich Business School 

    Read it Norwich Business School Blog
  • Student Story

    Life after MSc Enterprise and Business Creation- By Tinashe Chiweshe

    Read it Student Story
  • The Enterprise Centre

    The Enterprise Centre (TEC) is the regional business hub and the greenest building in the UK.  The gateway building at the University of East Anglia, TEC has commercial tenants working alongside students in a dynamic and vibrant community which brings benefits to all users.

    Read it The Enterprise Centre
  • #ASKUEA

    Your University questions, answered.

    Read it #ASKUEA

Entry Requirements

  • Degree Subject Any subject
  • Degree Classification 2.2 or equivalent

Entry Requirement

Our first requirement is that you have a desire to create your own business.

Next we will look at your academic achievements and any relevant experience that you have. Qualifications might include:

  • A lower second class honours degree (2:2) or international equivalent in any subject from a recognised institution

  • Professional qualifications, e.g. accounting, medical etc.

  • Technical qualifications, e.g. HNC etc.

You do not need business experience to join this course but any you do have could be useful in your application and may be more important than your academic qualifications. For example:

  • Full or part-time work

  • Self-employment or portfolio career (e.g. in the arts)

  • Research experience relevant to your business idea (e.g. science, medicine etc.)

  • Any business you have started (successful or not)

  • eBay trading activities

  • Investing or personal stock market trading

  • Leadership or management experience (e.g. in the military)

To help decide if the course is right for you, we ask you to submit your business idea with your application, describing what the business idea is and why the world needs it. This does not have to be essay format but can be presented in the form of diagrams or tables as a summary of your business.

Candidates will be considered at the discretion of the course leader. Those who meet our requirements will be asked to take part in an interview.

Students for whom English is a Foreign language

We welcome applications from those whose first language is not English or whose degree was not taught in English. To ensure such students benefit fully from postgraduate study, we require evidence of proficiency in English:

  • IELTS: 6.5 overall with a minimum of 6.0 in each component
  • PTE (Pearson) Academic: 58 overall with a minimum of 50 in each component

Test dates should be within two years of the course start date. 

Other tests, including Cambridge English exams and the Trinity Integrated Skills in English are also accepted by the university. The full list of accepted tests can be found here: Accepted English Language Tests.

INTO UEA also run pre-sessional courses which can be taken prior to the start of your course. For further information and to see if you qualify please contact: INTOpre-sessional@uea.ac.uk or visit: INTO University of East Anglia Language Learning Centre.

Fees and Funding

Tuition fees for the academic year 2019/20 are:

  • UK/EU Students: £9,950 (full time)
  • International Students: £16,500 (full time)

 

Living Expenses

We estimate living expenses at £1,015 per month.

Scholarships and Funding

A variety of Scholarships may be offered to Home/EU and Overseas students. Scholarships are normally awarded to students on the basis of academic merit and are usually for the duration of the period of study.

Funding for postgraduate study is also available both from the university and from a number of external schemes.

Find out more about scholarships, funding and bursaries.

How to Apply

Applications for Postgraduate Taught programmes at the University of East Anglia should be made directly to the University. You can apply online.

Further Information

To request further information & to be kept up to date with news & events please use our online enquiry form.

If you would like to discuss your individual circumstances prior to applying please do contact us:

Postgraduate Admissions Office
Tel: +44 (0)1603 591515
Email: admissions@uea.ac.uk

International candidates are also encouraged to access the International Students section of our website.

    Next Steps

    We can’t wait to hear from you. Just pop any questions about this course into the form below and our enquiries team will answer as soon as they can.

    Admissions enquiries:
    admissions@uea.ac.uk or
    telephone +44 (0)1603 591515