London produces the most entrepreneurs, according to a study that analyzes the percentage of British universities and their students who become managers.
Each university has its own reputation and academic success, but do some universities produce more executives than others?
Most founders are graduates of the London School of Economics and Political Science, with more than 11% of alumni starting their own companies, according to the researchers.
But another top university for future entrepreneurs is the University of Oxford.
To investigate this, money.co.uk's business loan experts analyzed each university's LinkedIn alumni page to determine which universities produce the most executives. , we looked at the number of alumni listed as company founders and looked at how attending a particular university can adjust your career prospects. .
12 of the 20 top universities for future executives are in London
The London School of Economics and Political Science (LSE) is one of the top universities for future business owners, with 29,767 graduates starting their own businesses, but the University of Oxford is also one of the top universities for future business owners. It is a top university for potential business owners, producing 27,300 graduates out of a total graduating class. 278,988 graduates founded their own businesses.
18% of business students at Oxford have started their own company. This is the highest rate among university graduates who studied this field.
The study left no doubt that the majority of managers came from London universities.
38% of student startups are founded at London universities
London universities are the best choice for future entrepreneurs, with 12 of the top 20 universities located in London.
London is the largest hub of start-up activity in the UK, with 38% of student start-ups being founded at London universities and at least 10% of University of the Arts London graduates launching their own businesses.
What subjects do successful students study for this career?
Economics is the most popular university subject for new business owners at the University of Oxford, with 8,705 business owners studying the subject, so business isn't the only route to entrepreneurship.
Marketing is the most popular subject for entrepreneurs at this university, with 1,936 founders studying the subject.
Other successful degrees include Business Studies (1,901 students) and Mass Communication and Media Studies (987 students).
Of all the universities surveyed, University of the Arts London has the highest number of marketing students starting businesses, followed by Cambridge University LSE and London Metropolitan University.
Harper Adams University is considered the worst school for new business founders, with only 289 of its 11,829 graduates going public and founding companies.
What factors should entrepreneurs consider when starting their own business?
Researchers point out that ambition and determination are important characteristics for becoming a business owner.
This study highlights the importance for future entrepreneurs of how to tailor their education to build skills, knowledge and potential networking opportunities.
Is the idea profitable?
One of the biggest mistakes people make when starting a business is underestimating the costs involved.
We want to make sure that whatever we do ends up making a profit, and we don't want to go into debt. You need to take into account initial costs, costs of supplies, accounting, legal fees, insurance premiums, taxes to be paid, etc.
Is that what people pay for?
Does the general public agree with your business vision? See if you can get input from a wider network or group to test your plan.
how to set up a business
There are three main business structure options when starting a business: sole trader, partnership, or limited company.
You will also need to consider insurance, licensing, setting up a business bank account and possibly PAYE. All of these factor into your initial costs, so all areas should be thoroughly researched to ensure your business is up to the task.
How to check if a business idea is legit
When starting a business, understand the industry-specific rules and regulations – for example, if you plan to handle food, you may need specific licenses.
Additionally, if you plan to sell to consumers, there are strict laws regarding returns and rights.
If you're not sure if your business idea is legal, do your research carefully and check the relevant government laws in your area to see if there are other businesses doing something similar.
“It takes the right combination of knowledge, attitude and work ethic.”
James Andrews, business loans expert at Money.co.uk, comments on the factors to consider before starting a business:
“Starting your own business requires the right combination of knowledge, attitude and work ethic, but the university you choose and the subjects you study also appear to be important influencing factors.
“With so many universities offering excellent education and potential networking opportunities, this research shows that certain universities have the essential ingredients to produce entrepreneurs. ”
