As we now have embraced an entrepreneurial culture in Britain there are no restrictions which prevent anyone from starting their own business.
For the younger generation, university is the perfect time to consider running a business without consequences. When I type into Google 'starting a business at university' over 130 million results come up all talking about creating a business while studying or how to become an entrepreneur once you have finished your degree.
Universities have become a breeding ground for entrepreneurialism with almost every institution having a club or society focusing on starting your own business. But one approach which slips under the radar around entrepreneurship is going to university to study how to start a successful business.
When starting a business would undertaking either an undergraduate or postgraduate course in entrepreneurship come to your mind as an option?
For a lot of people the answer would be no!
The MBA would probably jump to the top of most minds, being the course covering different theoretical areas crucial to business. Yet, the content of an MBA does not provide the practical experience one would need when running a business.
There are hundreds of courses around the UK, both undergraduate and postgraduate, which have practical training around starting a successful venture.
When you start your own business, can you guarantee you have the support needed to work out the kinks in your business plan? Normally you will have your friend or partner who will work tirelessly with you to get the business off the ground. However these entrepreneurship courses can go beat everyday support.
Your classmates become your unofficial non-executive board, where ideas can be shared, analysed and developed. Throughout this year the staffs at UCL have been pivotal in the development of my business PlanetTech News, a news aggregator and online magazine focusing on science, technology and innovation. It is important to have that support when creating your business model. Not only will you get a fresh pair of eyes to question your projections, but you will have expert advice on hand from lecturers and others entrepreneurs with unique insight and knowledge.
Finding time to fit in learning about book-keeping, marketing, sales etc. can be time consuming, when you are spending quality time getting the product or service right. These university courses can teach you all of this in a practical manner, which I have applied to PlanetTech News instantly, improving the features the news site provides; instead of the stress of undertaking free courses online at 11 o'clock every night or scouring Google when questions need to be answered.
My course has covered everything from finance, and new venture analytics, to even business feasibility studies where I have had the help from other entrepreneurs checking the viability of PlanetTech News over the next few years. The course helps you learn the skills and expertise needed to run a business and move beyond the passion that drives your entrepreneurial spirit.
With nearly half a million businesses starting last year, it highlighted 2013 was the year to become an entrepreneur. But as a rule we will expect a large proportion of these businesses to have failed within 18 months. There will be lots of these businesses who will have not have had the same level of support which you can get from educational courses.
The university is a perfect place to find the support you need. From lecturers, to classmates or clubs and societies, there is someone to help you out. In the case of my own course, you need to have a business idea in place, allowing for the course to develop the business plan into a successful business.
Having this support is invaluable and has helped me transform PlanetTech News to become a better site for its community. Just wanting to start a business can be enough to drive you; but the hard work comes from putting theory into reality and having an unofficial team behind you, like I did, really boosts your confidence, ultimately resulting in success.