Number Of Graduates Starting A Business Within A Year Doubles

Posted on 19th May 2014

New research has found that the number of graduates starting a business within a year of leaving university has almost doubled in the past year, while the dramatic increase in the number of 18 to 21-year-olds registering as self-employed suggests that a high proportion of young people are choosing to start a business rather than go to university at all.

According to the study, the number of graduates registering as freelancers or micro-business owners within a year of finishing university rose last year by 97 per cent, with a 110 per cent increase in the number of male graduates and a 94 per cent increase in female graduates setting up on their own.

Meanwhile, the number of young people aged between 18 and 21 who registered as self-employed over the last year increased by 69 per cent, with technology being one of the most popular sectors in which to start up a business.

Website design and mobile app development were the two most popular career paths within the sector for these young people, many of whom are obviously seeing the benefits of working for themselves.

As a spokesman for the company that organised the research pointed out, the lack of jobs at graduate status could be just the catalyst some ambitious young people need to start up on their own, particularly as it has never been easier or cheaper to start a business.

This has been evidenced by the Technology Strategy Board announcing last year that it had budgeted a record £440m to support innovative businesses and growth across the UK, with technology start-ups in particular being encouraged to compete for funding.

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