Self-employment is an option for entrepreneurial-minded students post-16.
Students with a passion for business can start their own ventures, whether in technology, creative industries, or trades. The rise of the digital economy has made it easier than ever for young entrepreneurs to launch their own businesses with relatively low startup costs. Support and resources are available through various government programs, business mentorship schemes, and online platforms, providing guidance on how to start and grow a business.
Self-employment allows students to follow their passions, be their own bosses, and potentially create job opportunities for others. It’s an exciting and challenging path that can lead to significant personal and financial rewards.
Young entrepreneurs in the UK have access to a wide range of support and resources, from financial aid and mentorship to educational programs and networking opportunities. Leveraging these resources can significantly enhance the chances of success for young business owners. Here are just a selection to consider;
- King’s Trust: Offers grants, loans, and mentorship for young people (18-30) looking to start their own businesses. Their Enterprise program provides support from initial ideas through to launching and running a business. Visit King’s Trust
- Start Up Loans: Provides government-backed loans for starting or growing a business. Young entrepreneurs can borrow up to £25,000 at a fixed interest rate and receive free business mentoring. Visit Start Up Loans
- Young Enterprise: Provides practical business programs and resources to young people to develop their entrepreneurial skills. Programs include hands-on business experience, mentorship, and workshops. Visit Young Enterprise
- The Federation of Small Businesses (FSB): Offers networking opportunities, business advice, and a range of resources for young entrepreneurs. Visit FSB
- Gov.uk: The official government website offers a wealth of information on starting and running a business, including legal requirements, tax information, and business planning. Visit Gov.uk