The graduate jobs market is tough right now. An entrepreneurship expert explains how to go it alone
- Written by Spinder Dhaliwal, Reader in Entrepreneurship, Westminster Business School, University of Westminster
For entrepreneurs, something that starts out as a simple idea can transform into a thriving business that brings financial rewards, confidence and personal growth. These days, graduates may look at forecasts for a tightening jobs market and decide their future is as an entrepreneur rather than an employee.
The business[1] world is brimming with opportunity. I have researched entrepreneurship for years, and have found that rapid technological evolution, shifting consumer preferences and a growing focus on sustainability are creating an exciting landscape for bold graduates.
However, success is never guaranteed – like anyone else they’ll need to understand their market, and know their competitors, target audience and growth potential. This is where graduates should put the research skills they honed as a student to good use. This can help them to avoid costly mistakes – things like overestimating demand for their business idea or underestimating the level of competition, for example.
My book, The Millennial Millionaire[2], demonstrates that successful young entrepreneurs tend to share certain traits: resilience, calculated risk-taking and a willingness to learn from failure. These characteristics remain essential in 2026, particularly as markets become more volatile with persistent inflation, shifting interest rate expectations and growing geopolitical tensions.
Graduate entrepreneurship has evolved over the years, and the traditional linear career where someone stayed with one employer, moving up through the ranks through their working life, is a thing of the past. My book highlights how younger entrepreneurs increasingly pursue business ownership not only for financial independence but also for autonomy, creativity and social impact.
However, it can still be tricky for graduates to make a mark. And entrepreneurship is not a level playing field, either. Rising costs for utilities and essential overheads, competitive markets and unequal access to capital disproportionately affect certain groups. Women generally have less access to capital compared to men, and this is more pronounced for some ethnic minority women. Young people may not have enough personal savings.
Entrepreneurship cannot be separated from questions of diversity and inclusion[3]. Graduate entrepreneurs can face both opportunity and inequality when starting a venture. In this context, migrant communities often have a wealth of valuable “rags to riches” stories that they can share.
References
- ^ business (theconversation.com)
- ^ The Millennial Millionaire (www.bloomsbury.com)
- ^ diversity and inclusion (www.e-elgar.com)
- ^ Quarter Life series (theconversation.com)
- ^ other research (www.wiley.com)
- ^ Surinder Arora (bylinetimes.com)
- ^ My research suggests (www.e-elgar.com)
- ^ Networking (theconversation.com)
