Universities recognising the rise in student entrepreneurs have begun to support pupils by offering advice and facilities to young business owners as well as introducing enterprise societies.
Hushpreet Dhaliwal, chief executive of the National Association of College and University Entrepreneurs?commented on the rise in enterprise societies available to student tycoons, pointing out that: ?Two years ago there were 12 of these across the country; now there are 86.?
Some of the societies that have been set-up have won profitable contracts, including students at Essex University who were commissioned by Waitrose to help ex-service personnel back into work, while students at Barking & Dagenham College are making ?120,000 a year from a caf? that was launched, managed and marketed by undergraduates.
The rise in students choosing to launch a business has been put down to the shrinking job market and the need to meet the fast-rising costs of university. The Government has reacted to the increasing trend for student entrepreneurship by announcing they are investigating Enterprise Loans, a system similar to student loans, which will be made available to college graduates wishing to set up their own business instead of go to University.
Many students are joining the Avon franchise, which requires a joining fee of ?15 to cover training and equipment to enable sales representatives to earn up to 25% on processed orders. Avon sales leader, Rebekah Testar commented: ?Over the last two years, I?ve seen a real boost in people aged between 18 and 24 years old joining my team ? 40% of the sign-ups this January were in that age group.?
Photo by Tulane Public Relations
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