London graduates show entrepreneurial spirit

A growing number of graduates in London are looking to set up their own businesses in an effort to beat the sluggish labour market.

In a survey by specialist business insurer Hiscox, some 33 per cent of the capital's university leavers said a shortage of jobs has made them think about becoming their own boss.

More than half of those who are due to graduate in the next 18 months already have an idea for a business start-up, while four out of ten have already been running money-making enterprises during their studies.

Information technology, hospitality and education were found to be among the most popular industries for young entrepreneurs to enter.

Three in ten respondents said they enrolled on their university course with the sole intention of working for themselves afterwards.

"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," said John Heaney, small business expert at Hiscox.

Posted by Christopher Evans

Published on: September 23, 2010

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