25% of students plan to start up own business

Nearly a quarter of students have already started their own business or plan to launch one soon, a new survey has found.

According to SME insurer Hiscox, 19 per cent of these young entrepreneurs started their university course intending to be self-employed.

Phil McCabe, spokesperson for Forum of Private Business, said that entrepreneurship is a "viable career option".

People setting up their own business can cut costs with DIY employment contracts and share certificates.

And while Mr McCabe said there is no right time or wrong time to start up a business, young people could take advantage of certain recessionary conditions in the UK market.

"Start-up costs are lower [and] there are gaps in the market where perhaps there wouldn't have been in the past," the expert advised.

Many people will be jealous of those who decide to go it alone in business, as according to PayPoint.net, 64 per cent of the nation's office workers believe that running their own business would be more fulfilling than their current job.

Posted by Morag Lyall

Published on: July 27, 2010

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