Graduation season is nearly upon us, and that can mean only one thing: students are out in force, and they’re looking for jobs.
But intriguingly, there is growing evidence to suggest that graduates are shunning more traditional career routes, such as graduate schemes and the like, in favour of pursuing self-employed careers instead.
According to a recent article, new research has revealed that nearly two-thirds of university students are planning to go self-employed after graduation, in a bid to evade the unpredictable nature of the job market here in the UK.
The study also found that whilst many students started their university careers with a clear job or career route in mind, many are now rethinking their futures.
It’s not hard to see why either. The job market for students is increasingly competitive, and in some instances there can be as many as 160 graduates competing for every position, meaning that the odds are most certainly not in their favour.
Hence, to avoid the potential pitfalls of climbing the tough job ladder, many current undergraduate students are planning – or at the very least considering – going down the self – employed route in a bid to take their future into their own hands.
Self-Employed -The New Norm?
Historically, self-employment wasn’t a common route for new graduates. But in recent years, in light of the increasingly tough job market, the UK has witnessed a surge of graduates choosing to become their own boss after completing their studies. Armed with the varied skills they learned at university, they are turning their talents to business, and choosing to become self-employed rather than being employees.
In one of our recent blog posts, we took a look at the growing need for more engineers and engineering leaders. But with engineering skills in such demand, maybe we should also be encouraging more engineering students to go down the freelance route and consider becoming engineering contractors too.
As this research shows, plenty of young people already have the confidence and desire to pursue a self-employed career. So now perhaps all that remains is to ensure that more of these individuals are choosing engineering too!
There’s no denying that being self-employed can be a hugely exciting career option. But that said, it isn’t without its challenges either, especially for the uninitiated. However,that’s where we can help. Here at ICS, utilising our contractor limited company service is a fantastic way to ensure your freelancing career gets off to the best start. Our experienced contractor accountants can also provide ideal assistance for graduates looking to take the leap into the freelancing world, and can offer support with a wide range of accountancy and administration issues, giving you peace of mind.
For more information about the services we offer, or to find out how we could help you, please don’t hesitate to contact our friendly team today by giving us a call on 0800 195 3750 and we’ll be happy to help you with your enquiries.