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MBA graduates turning to their own businesses

Published: Tuesday, 17 March 2009   Category: Life after graduation

MBA graduates are becoming their own boss after deciding to setup their own businesses instead of joining in the increasingly competitive race for graduate jobs.

Sylvie Lakarakos, who is halfway through an MBA course but intends to set up a laptop briefcase design business for women once she graduates, told the Times she believes that there is not the security there once was in being an employee.

Also speaking to the publication, Andrew Burke, director of graduate programmes at Cranfield School of Management, predicted that graduates like Ms Lakarakos will be starting their own businesses in unprecedented numbers, beginning a new wave of entrepreneurs.

He said: "Usually, very few would start up on their own straight after an MBA - it would be as low as seven per cent. But this year between 12 and 15 per cent are going it alone."

Student ambition has been accelerated by the economic downturn, he added.

Those not wanting to risk starting up a business in the current financial climate, however, have been warned to make sure their job applications are the best they can make them in order to stand a chance against tough competition.