Young People Ditch University To Start Their Own Business
Amidst rising student debts and falling graduate employment rates, ambitious young people are questioning whether university is still the best choice for them.
Findings have shown that British young people are increasingly choosing to become entrepreneurs instead of going to university. A survey conducted during August amongst a group of 16-29 year olds by the newly launched social enterprise BizBritain, indicated that around 70% of them would like to start their own business if they had adequate support. According to BizBritain Founder Matt Gubba, the organisation has seen a large increase in the number of young people who are disillusioned with the current system. Many are simply not prepared to commit to such a huge financial burden when there is no guarantee that it will result in them landing a well paid job.
BizBritain is tackling the issue by providing support and guidance to young people who want to start their own business instead of studying for a degree. The organisation has already had support from a number of high profile entrepreneurs, including Simon Dolan, who ranks on the Sunday Times Rich List, and is the author of “How to Make Millions Without a Degree”, and Scott Fletcher, chairman and founder of ANS Group Plc.
Matt Gubba, Founder of BizBritain said: “The notion of going to university without any real idea of how a degree is going to be used is fast becoming obsolete. We need to take a fresh look at ways in which business and entrepreneurship can help our next generation of young people to succeed in life, and create value in society.”
Matt isn't the first individual to see the importance of supporting start-ups outside of conventional academic routes. Peter Thiel, billionaire co-founder of PayPal, has vocalised his critique of higher education and university on a number of platforms, believing that the classroom doesn't serve as a breeding ground for future innovators, entrepreneurs and industry leaders. To tackle the problem, Thiel launched the 20 under 20 Thiel Fellowship in the US - a programme that offers enterprising students under 20 a $100,000 grant to skip college and explore their entrepreneurial ideas. The initiative also offers students tutillage from an array of investors, scientists and industry experts so that they are able to build connections, seek investment and promote their businesses on a level that could never be provided for by traditional educational facilities. The Fellowship has been so successful that Thiel announced four more spots on the programme in 2011.
If you are a young entrepreneur and are deciding between launching a start-up or taking the traditional route of university, visit Biz Britain to find out how they can help you make that all important choice.