By Daniel Hunter
Almost two-thirds of university students are planning to start their own business after finishing their degrees in a bid to sidestep the unpredictable nature of the UK job market, new research reveals.
Despite spending upwards of £15,000 on tuition fees and three years in education, students said they would rather be self-employed than go into employment with another company.
The majority of current students had specific job or career path in mind when they began their studies. But the increasingly competitive employment market — where up to 160 graduates are chasing every position - means 70% are now re-thinking their future.
Only 2% said they believe that they have the sufficient interview skills to see-off other applicants. The overwhelming majority are either “angry” or “deflated” about the prospect of wasting time and money on a university education that will not guarantee a job.
A total of 57% of existing undergraduates are now either planning or considering a self-employed career to avoid the pitfalls of climbing the tough corporate ladder, a poll has found.
Andy Harrington, one of the country’s leading public speaking and entrepreneurship experts, says the findings further cement the UK’s reputation as the ‘capital’ of Europe’s self-employment boom.
The self-made millionaire commissioned the survey of nearly 1,000 students.
Mr Harrington said: “The results of this research clearly suggest that current students are being forced to reconsider their options after leaving higher education.
“The highly-competitive nature of the world’s job market is carving a new generation of entrepreneurs and a new era of entrepreneurship where young people can and will build a successful career for themselves.
“Such a leap would have been difficult in the past, but we are now living in an entrepreneurial and information age where individuals and small businesses can compete on a level playing field with larger firms simply by harnessing the web to become go-to experts.”