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A Quarter of Graduates Plan to Start their Own Business

A Quarter of Graduates Plan to Start their Own Business

Almost a quarter of students graduating in 2010 and 2011 are planning to start their own business, with many blaming the lack of jobs as the impetus for their self-employment plans.

A poll of 1,000 students taken out by insurance firm Hiscox in June has revealed that 32% already have a business idea, and 23% are already running money-making schemes or are in the process of setting them up.

George Derbyshire, chief executive of the National Federation of Enterprise Agencies, said:

“There is a shortage of traditional graduate jobs due to the economic climate, plus the financial pressures that students are under to pay their tuition fees and then pay off their debts.

“However, the high number of graduate start-ups is also due to the fact that a lot of degree courses are becoming increasingly vocational, so students are naturally geared towards applying those skills to a business environment,” he added.

Find out more in our SME news article: Quarter of Graduates Planning Start-Up Businesses.

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