LIVERPOOL John Moores University has developed a new degree aimed at creating the next generation of small business owners.

Its Liverpool Business School has offered a business and management degree for several years, but principal lecturer in small business and enterprise, Séamus O’Brien, has updated it to focus on small business and entrepreneurship, management, and financial perspectives.

What is believed to be the first degree of its kind has now been validated and commended by the Institute of Leadership and Management and courses will commence in September.

A final year module in researching and developing a business plan for a small business has replaced dissertations.

Guest lecturers will include speakers from banks, the chambers of commerce and former students who have set up their own businesses.

Mr O’Brien said: “We have spoken to local and national businesses who have fully endorsed the scheme, which is looking at Prime Minister David Cameron’s call to instil entrepreneurship.”

Over the next couple of years, he hopes to extend the course to day and evening sessions to help small business owners in areas like accounts and finding finance.

The university has already received interest in the course from institutions in Malaysia and Northern Ireland, and Mr O’Brien is planning to introduce a Masters in entrepreneurship.

He added: “Our applications have gone through the roof. We used to take 80 students in the first year and that has gone up to 140. We have had students transferring from other courses in their second and third year because they like the idea of setting up their own business.”

He said he wanted a unique course to distinguish JMU when university fees rise next year: “I wanted it to be sexy and wanted it to be applicable. Companies have told us they want students who can write a business plan and bring everything together in terms of marketing, finance, management, HR and e-commerce. We wanted something different for when the fees kick in.”