Go to university or start a business?
In a survey of students in the audience, over half said they would opt to start their own small business. They also revealed that a lack of contacts and network of people ‘in the know’ was considered to be the biggest barrier to starting a company (38%). Surprisingly, raising the money to get started was seen as the smallest obstacle (15%).
“The event provided a great insight into the ups and downs of the real business world from the entrepreneurs themselves and installed an inspirational sense of optimism for us to improve the future of our economy,” enthused Will Fergus, a student at the Peter Jones Enterprise Academy, Oxford & Cherwell Valley College
Sharing their experience and wisdom were a panel of five established entrepreneurs, including founder of The Fabulous Bakin’ Boys, Gary Frank, and former winner of the Deloitte Technology Fast 50, Ben Goss.
In a reverse of Dragon’s Den, the entrepreneurs were forced to battle it out to secure investment for a new idea from the aspiring entrepreneurs. Aided by a free giveaway of Fabulous Bakin’ Boy flapjacks, Gary Frank won the Ned Snogard competition with his idea for a bicycle security service.
Georgia Minnear, also studying at the Peter Jones Enterprise Academy said: “It was interesting to see the different styles each entrepreneur used when pitching. I thought it was great that some of the entrepreneurs adapted the brief to make the product more interesting.”
Commenting on the results of the survey, Stuart Miller, co-founder and CEO of ByBox and deputy chairman of Oxfordshire Business First said: “With the enormous debt facing today’s students, It is not surprising that just over half of the young entrepreneurs we questioned chose the £50,000 to start a business over going to university. However, many successful entrepreneurs have started businesses and met their business partners while at university, so there are clearly strong arguments on both sides.”
Posted by admin on November 21, 2011 | 2 Comments
Comments
2 Responses to “Go to university or start a business?”
December 13th, 2011 @ 2:44 pm
This was a tremendous event, and if this is the direction in which Oxfordshire Business First is going…..bring it on!
Did we get any formal feedback from the audience? I would love to know the extent to which the students felt they had benefited.
January 10th, 2012 @ 6:01 pm
I recently finished my A levels last year and opted to take a year out in order to wheigh out my options as I would rather get funding to start a business than attend university as the prospects of me having a successful life are high with a business than a degree. I do feel that there is a lack of information or lack of referal service to the higher businsss people to guide young into starting their own businesses and this site has some inspirational views, Thank you.
Courage Nyenya