More school leavers are going to university and college nowadays than ever before. There’s been a shift over the last two decades, where young people are more likely to choose to further their education than start an apprenticeship or learn a trade. But in an era where you can forge a successful career solely on social media, or start up and run your own business online, it’s worth asking if we are on the cusp of another seismic shift.
New research from Worldplay has revealed that 43% of UK millennial business leaders think starting a business is a better investment than going to university. And who can blame them, with the UK start-up scene defying economic uncertainty and growing over 5% this year. UCAS figures show a whopping 353,960 people from across the UK were accepted to university last summer and as we find ourselves in the throes of graduation season, the new data is food for thought.
The Worldplay findings, taken from over 1,000 interviews from senior decision makers at the business, was over a third of the grand total of SME owners polled. This is in line with previous research from Informi, the SME consultancy, which found that 50% of those aged between 23 and 38 would like to run a company of their own. So which is the right path to take – education or entrepreneurship? And should we even be dividing the two?
Big ideas are what gets new business off the ground, but it’s how you execute them that is key; whether you choose to get your degree or learn the ropes as you go. The real challenge is ensuring that SMEs have the right support and tools to survive and thrive in the long term. Here at Only Marketing, we help entrepreneurs to transform their strategy, build their brand and drive sales in order to ensure a bright and prosperous future for their business.
If you’d like to develop a bespoke sales and marketing strategy for your growing business, get in touch with Only Marketing today.