Advising Entrepreneurial Students
Further Information
This section highlights a small selection of the resources available to Careers Professionals. There is a very extensive list on the AGCAS website . ### add link when available
1,0 NCGE Research Reports
2.0 Facts and Figures about Small Businesses
3.0 Web Sites
4.0 Other Documents
Career-making: Graduating into Self-employment
Nabi, Holden, Walmsley, NCGE, 2006
Based on data collected from 15 graduates in West Yorkshire using story-telling interviews.
Graduates in Self-employment
Graduate Prospects, 2005
Facts and figures about graduates in self-employment
Graduate Career Choices and Entrepreneurship
Rae and Woodier, 2006
Based on detailed interviews with students graduating from the University of Derby
Making the Journey from Student to Entrepreneur
Institute of Small Business Affairs Consortium, 2004
A review of the existing research into graduate entrepreneurship
2.0 Facts and Figures about Small Businesses
a) Students' intended timescales for starting a business.
| Plan to start a business | % of respondents |
| Within 5 yrs | 15% |
| 6-10 years | 30% |
| After 10 years | 40% |
| Never | 15% |
(Approximate figures)
Source: Galloway, Brown, Anderson, Wilson, 'Investigating the potential of entrepreneurship education, IJME, date?
b) Statistics about SMEs in the UK
There are about 3.7m businesses in the UK, including the self-employed.
They provide about 57% of the employment in the UK and about 54% of business sales turnover, so are actually more important to the economy than large businesses are.
About 10% of business close down each year, but very few of those go into forced liquidation. Most close down in an orderly fashion.
Similarly about 10% of businesses start-up each year. The proportions of new businesses and closures varies, mainly depending on economic conditions, so the stock of businesses go up and down a little each year.
Although some businesses grow, about 65% of SMEs remain at about the same size each year, usually because they have reached a size that matches the aspirations of the owner.
| Number of Employees | % of total SMEs |
| Zero employees (self-employment) | 71% |
| 1-9 employees (micro businesses) | 24% |
| More than 10 employees (small and medium businesses) | 5% |
Source: Annual survey of Small Businesses, 2004/05, DTI
| Reason for starting business | % of respondents |
| To be own boss | 27% |
| To make money | 13% |
| To exploit a gap in the market | 9% |
| Due to difficulty getting employment | 9% |
Source: Annual survey of Small Businesses, 2004/05, DTI
c) Graduates starting businesses in 2004
Recent graduates (of any age) starting businesses: 99,600 (up 25% on 2003)
Recent graduates (under 25 yrs) starting a business 3600 (down 10% on 2003)
Source: Barclays Bank 2005
| Business Link | Comprehensive information on starting and running a business | www.businesslink.gov.uk |
| Business UK | One-stop link to all government business-related web-sites | www.business.gov |
| HMRC | Her Majesty's Revenue and Customs. | www.hmrc.gov.uk |
| AGCAS | Association of Graduate Careers Advisory Services | www.agcas.org.uk |
| NCGE | National Council for Graduate Entrepreneurship | www.ncge.org.uk |
| Graduate Prospects | Graduate careers web site | www.prospects.ac.uk |
| Small Business | Comprehensive small business site by the author of the 'Small Business Guide' | www.smallbusiness.co.uk |
| Department of Trade and Industry (DTI) | A huge range of business-related material | |
| Shell Livewire | Help for 16-30 year olds starting a business, and a national competition |
4.0 Other Documents and Sources
a) Small Business Guide.
Sarah Williams, Press Vitesse, 2006
An excellent book on the practical aspects of starting a small business
b) DTI Annual Survey of Small Businesses
http://www.sbs.gov.uk/SBS_Gov_files/researchandstats/ASBSExecSummary2004.pdf
Much interesting information about small businesses
c) Google search terms
Googling for the following terms produces a wealth of useful information about small businesses, entrepreneurship and entrepreneurial careers
- small businesses
- entrepreneurship
- entrepreneurial careers
- careers in entrepreneurship
- graduate entrepreneurs