Youngsters choosing startups over university
RISING fees are forcing some young people to turn their backs on university and to try to become entrepreneurs, says a Midlands accountant.
Andrew Jones, a partner with Haines Watts in Birmingham, said the firm has received increasing numbers of enquiries from young school and college leavers who are opting to work for themselves rather than face £9,000 in annual academic fees.
Mr Jones said the level of enquiries from would-be entrepreneurs had increased significantly since A level exams finished last month.
He said: “In the past two months, we have had calls from six young people, each of whom is intent on establishing their own business. Whilst this is not a large number, it is way higher than we have experienced in previous years and is almost certainly due to young people facing what they believe are unattractive alternatives..
“Although the UK’s economic recovery is still fragile, setting up a business is proving popular. In fact, the timing could be perfect: climbing out of recession, existing businesses are looking for services and support that are energetic, have a low cost base and where there is a real desire to get up and go.
“Setting up any business is not easy but young people reckon they have little to lose.”
Anthony Howell of Howell Consultancy is a mentor to young people at Birmingham City University through BeSeen (Birmingham Skills for Enterprise and Employability Network). The network offers the university’s graduates and students support and training for their fledgling businesses.
He said: “What young people lack in business experience they make up for in enthusiasm. My role is to support them with their business plans, securing funds and getting cash flow sorted. What they are looking for is practical hands-on experience.”
