While the national unemployment rate may be continuing to fall in the UK, there remain concerns that there are a fundamental lack of long-term job opportunities nationwide. This is triggering something of a vicious cycle, however, as it encourages some individuals to pursue further education in the form of a Master’s Degree or similar academic qualification. The lack of long-term employment opportunities mean that these qualifications do not necessarily boost your chances of finding work, and ultimately leaves a growing demographic of jobless graduates in the UK.
The Benefits of Entrepreneurship over Employment for Graduates
With this in mind, what are the key advantages of choosing entrepreneurship over employment for students in 2014? Consider the following: –
Fewer Barriers to Entry
The age old challenge facing graduates is their perceived lack of practical experience in the workplace, which often discourages employers from extending an offer of employment. The current job market is littered with over-qualified graduates, who have limited workplace experience despite their academic achievements. The same cannot be said of entrepreneurial opportunities, as they can easily be shaped by each individual student to suit their personal requirements. There are also a host of low-cost business models available to students, with financial service providers such as Smart Pig ideally placed to fund these.
Gain a Critical Advantage on Fellow Graduates
With this in mind, it is also far easier for graduates with entrepreneurial goals to steal a march on their competition and fellow academics. While the majority of this demographic spend their time competing for a paucity of job opportunities in the employment market, for example, aspiring business-owners can simply establish their venture and begin to implement a long-standing vision. This process can also be started during the formative months of studying, meaning that they may have already laid the foundations of commercial success long before they graduate.
Make the Most of your Studies and Academic Qualifications
Given the nature of the modern employment market, it is fair to say that even graduates who are awarded jobs may not be able to display their knowledge of academic skill-set. This can create genuine feelings of frustration and discontentment among graduates, who feel as though their hard work in gaining accreditation has ultimately gone unrewarded. The same cannot be said of graduate entrepreneurs, however, who have a unique opportunity to structure their venture and business model that enables them to utilise their skills effectively. For proactive and ambitious graduates, this may mean that entrepreneurship offers a far more fulfilling career path than the traditional employment market.