Key Takeaways

• Seize opportunities to outpace competitors by applying fresh knowledge gained from university.
• Outline a detailed plan for your business, taking advantage of available resources like university alumni networks.
• Create a business aligned with your values, enabling you to positively impact your community and the world.
• Explore entrepreneurship now while you have the freedom to pursue your passions and interests.

You’ve worked hard, gained new skills, and you’re probably wondering how to spend the next chapter of your life.While many graduates follow the traditional path of finding a job, an increasing number are exploring alternative routes. Starting your own business right after graduating is an exciting option, and with the right tools and support, it’s easier than you might think.

Here’s the UK’s number one company formation agent, Rapid Formations, with seven compelling reasons to consider becoming a business owner after university.

1. Have control of your own future

Starting your own business puts you in control of your own career path. Instead of following your boss’s instructions and climbing a predetermined corporate ladder, you can create your own opportunities.

One of the most appealing parts of this is that running your own business gives you the ability to create your own income. Unlike traditional jobs, where your salary is often limited by your years of experience, running your own business has no earning limits. The harder you work and the more successful your business becomes, the more you can earn.

2. Your fresh perspective is a valuable asset

As a recent graduate, you bring fresh ideas and perspectives that established professionals might not have. You’ve been exposed to the latest research and trends, which can help you identify untapped opportunities in the market.

So, if you’ve spotted a gap in the market or have an innovative solution to a problem, starting a business allows you to act and capitalise on these instincts before someone else does.

3. Take advantage while you have fewer responsibilities

Starting a business when you’re young can be less daunting because recent graduates have fewer financial and personal responsibilities. You’re less likely to have a mortgage, children, or other commitments, making it easier to dedicate time and resources to your new venture.

This stage of life provides a level of flexibility that you may not have again as you grow older, so why not make the most of it now?

4. Build valuable skills

Owning a business requires you to wear many hats, especially in the early stages. You’ll develop skills in leadership, financial management, marketing, and problem-solving, as you’ll be solely responsible for every part of running the business. This gives you exposure to challenges that would take many years to earn if you were working as an employee of a company.

These skills are not only beneficial for running your business, but also in other areas of life. If you ever decide to return to traditional employment, employers will value your self-starter attitude and entrepreneurial experience, and this will set you apart from your peers.

5. Follow your passion and make an impact

As a business owner, you have the autonomy to decide how and where to dedicate your time and energy. So, if you want to, you can align your work with your values and passions.

For example, you can support environmental initiatives or create something to benefit your local community. Being your own boss means you get to decide the purpose and direction of your business, so you can make an impact in the world.

6. It costs less than you might expect

Though there are costs to consider when starting a business, these don’t have to cost a fortune.

Many business ideas require minimal initial investment. For example, you can start a freelance business or an online store from home: all you really need is a phone or laptop to create your website and start trading. If you need storage space, you may be able to ask around to see if anybody would be willing to lend you a spare room or garage space while you’re getting started.

Marketing costs can also be affordable if you use social media advertising. Platforms like Instagram, TikTok and LinkedIn can help you target your specific audience and start generating hype around your products and services from just a few pounds per day.

7. Access to resources and support

Starting a business right after university doesn’t mean you’re on your own. There are countless resources available to help graduate entrepreneurs succeed. Your university may offer alumni support groups, mentorship programmes, workshops, and networking events. They may even offer grants to financially support strong ideas, which can take the pressure off your initial startup costs.

You also have access to your network of peers who took your course and professors with industry contacts. These can become your collaborators or your first customers, so nurture these relationships after leaving university. If you wait and years pass by, you may not have access to these valuable support systems anymore, so make sure to take full advantage while you can.

Final thoughts

If you’re a recent graduate looking for an alternative career path, why not take the leap? Becoming a business owner after graduating is an ambitious and highly rewarding way to start your next chapter.

Rapid Formations is here to support you every step of the way. Our company formation service makes it quick and easy to set up your business, with affordable packages tailored to your needs.

We provide step-by-step instructions and resources to help you navigate the process and ensure you receive all the essential legal paperwork to start trading. This will save you time and money, giving you more headspace to focus on building your business. Get in touch today to find out more.