UCLan graduate start-ups beat national survival rate

MORE than three quarters of businesses started by University of Central Lancashire graduates are still trading after two years with annual turnovers averaging £40,000, according to the university.

Figures from the university show that 77% of businesses started by graduates within the last two years – since the launch of the university’s Northern Lights business incubator unit in 2007 – were still active.

Almost 200 businesses started by UCLan graduates were polled in the study, which found that staff numbers per business averaged 1.5, while the average turnover was around £40,000 – with some turning over more than £1m.

Around 62% of businesses started by UCLan graduates in the last three years were still active and trading – a high success rate compared to the 80% of UK business start-ups that end in failure.

Bede Mullen, director of Knowledge Transfer at UCLan, said: “This comprehensive study into almost 200 businesses has provided statistically sound findings, which show some exceptionally impressive results and highlighted a marked improvement on figures from recent years.

“What is an even greater achievement is that with UCLan’s support these businesses were not only started during the worst recession since the Second World War, but they have survived and even managed to flourish in some of the most difficult trading conditions they could possibly encounter.”