Business nous starts young in capital

More than half of London’s students plan to set up their own business, according to new research.


More than half of London’s students plan to set up their own business, according to new research.

More than half of London’s students plan to set up their own business.

According to a study of 224 university attendees by insurer Hiscox, 54 per cent already have a business idea, with plans to become entrepreneurs in the near future.

Of those with plans to start up, IT is the sector most respondents hope to succeed in (18 per cent) with hospitality and catering (11 per cent) and education (11 per cent) also popular.

Some 30 per cent started their courses intending to be self-employed at some stage, while 40 per cent have been running money making enterprises while studying.

Undergraduates see the value in starting early, with 78 per cent believing that some of the best businesses are set up by young people.

John Heaney, SME expert at Hiscox, says: ‘It’s extremely encouraging that despite the knock on effects of the recession on the job market, the best of British entrepreneurial spirit is alive and kicking amongst London’s graduates as many look to set up in the future.’

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