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A third of graduates planning to start their own business

Published: Thursday, 22 July 2010   Category: Self Employment

One in three UK graduates are planning to start up their own business due to a lack of job opportunities, according to new research.

Specialist business insurer Hiscox conducted a study of 1,000 Britons graduating in 2010 and 2011 and found that 32 per cent are preparing to launch their own start-up.

The survey revealed that the retail and IT sectors were most popular for those looking to establish their own companies, with two in five (40 per cent) aiming for online enterprises.

John Heaney, a small-business expert at Hiscox, claimed that the findings suggest that the British entrepreneurial spirit is still "alive and kicking".

"It's extremely encouraging that, despite the knock-on effects of the recession on the job market, students are so positive about entrepreneurship," he said.

"This can only mean good things for the future growth of the small business sector, the lifeblood of the UK economy."

Last week, the National Enterprise Academy, which was set up by Dragons' Den star Peter Jones, celebrated its first 24 graduates.ADNFCR-1068-ID-19904065-ADNFCR

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