Business Planning

Half of students plan to ditch grad jobs to become their own boss

Carly Hacon | 30 April 2018 | 6 years ago

Half of UKuniversity students are opting to build their own business rather than a graduate job.
Self-employment prevails over graduate jobs as more students are planning to start up their own businesses, with 38 per cent certain it would give them a better chance of being successful.

A new study by the print company, Solopress, has found that launching a start-up was more appealing than a career on a corporate ladder for 1.2 million people in university.

Additionally, nearly a third of the newest generation of workers consider starting their own business within the first year of university.

Commenting on this, Aron Priest, co-founder at Solopress, said: With more students and graduates freelancing and launching their own businesses over jumping on the career ladder, we wanted to find out what’s really pushing this new way of working.

it’s interesting to see that despite the initial investment costs, risks of starting a business and the competition, the majority of students are considering starting-up over graduate roles.

Students are also considering the advantages that being self-employed holds, the primary reason being the financial benefits of running your own business.

Whilst the average salary for UK graduates is 19k-£22k, one in ten expect at least 30k meaning the workforce is falling behind when it comes to starting income.

Forty-seven per cent of students rate that it’s a flexible lifestyle choice, 45 per cent want to be their own boss and 28 per cent thought working for themselves offers a better work/social balance.

__________________________________________________________________________________

graduates

 

Students set to reject corporate world and target graduate jobs at micro companies

Britain’s small business ownerscould gain a head start in recruiting university talentthis summer, after new research revealed students weremore likely to seek out graduate jobs at smaller companies than large firms.

__________________________________________________________________________________

However, due to the proliferation of the internet and the ability to work remotely, nearly half of students think setting up a business is harder now than ever before.

Sixty-eight per cent of students believe this is down to too much competition and 57 percent suggests the issues lies with the lack of funding and support available to them.

Priest adds: it’s clear that hard work and risk doesnt seem to put the new generation of workers off of running a business.

young graduates are ambitious and UK businesses really need to get to grips with what will motivate them to stay in the workforce. After all, we don’t want to be losing talented workers.

Evidently students are keener than ever to launch start-ups as three quarters said they were happy to invest savings into their own business ventures.

Additionally, 40 per cent would be more than happy to take a loan out and 21 per cent would turn to the bank of mum and dad.

Related Topics

How Businesses Can Save on Their Energy Costs This Winter
28 September 2023

How Businesses Can Save on Their Energy Costs This Winter

Read More →
The Importance of Data Analytics in Making Informed Business Decisions
14 September 2023

The Importance of Data Analytics in Making Informed Business Decisions

Read More →
How to Write a Business Plan That Investors Will Love
13 September 2023

How to Write a Business Plan That Investors Will Love

Read More →
Performance Appraisals Reimagined, How to Modernise Your HR Reviews
4 September 2023

Performance Appraisals Reimagined, How to Modernise Your HR Reviews

Read More →
Embracing Sustainability: Eco-Friendly Practices for Businesses
1 September 2023

Embracing Sustainability: Eco-Friendly Practices for Businesses

Read More →
Eco-Friendly Sustainable Business Practices
8 August 2023

Eco-Friendly Sustainable Business Practices

Read More →

If you enjoy reading our articles,
why not sign up for our newsletter?

We commit to just delivering high-quality material that is specially crafted for our audience.

Join Our Newsletter