Graduate entrepreneurs lead the way

1 02 2008

Earlier this week a news item claimed that Generation Y is entering the workforce as ‘graduate divas‘ who “expect everything to fall into their laps but who, in reality, massively overestimate their own abilities”.   However, the experience of the NCGE is that not all members of Generation Y are the difficult, overly-entitled ‘divas’ that employers dread joining the workforce.  Graduates today are increasingly setting up in business on their own, demonstrating high levels of self-motivation and the desire to manage their own career path, rather than have it be dictated by others. They often build businesses that have tangible benefits to their community and make a real contribution to the UK’s economy.  These traits and others that contribute to young entrepreneurs’ successes are a stark contrast to the qualities employers claim define the new generation of workers.

Recent analysis of the founders of UK’s fastest growing private companies, commissioned by the NCGE, further supports the view that graduate entrepreneurs drive the knowledge economy. An analysis of the Sunday TimesFast Track 100, which ranks Britain’s hundred private companies with the fastest growing sales over the latest three years,  showed that 70% of the UK’s fastest-growing companies were founded by graduates.  The percentage is even higher for the Tech Track 100, which ranks Britain’s fastest-growing private tech firms based on sales growth over the latest two years, as graduates founded 84% of these companies. 

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