Millennials are increasingly driving entrepreneurship, with 52,000 undergraduates in the UK already running their own businesses before they have left university, according to latest figures from the Higher Education Statistics Agency (HESA).
Dr Spinder Dhaliwal, Reader in Entrepreneurship and the Director of Postgraduate Programmes at Westminster Business School, has investigated this growing trend in her latest book, The Millennial Millionaire: How Young Entrepreneurs Turn Dreams into Business, which provides insight into how young entrepreneurs are turning their aspirations into reality. Through in-depth case studies and research, Dr Dhaliwal shows how young entrepreneurs with their energy, drive, confidence and resilience could be the perfect formula for entrepreneurial success.
Her analysis looks at the experiences of being young and working in the business world, looking at both the highs and lows, and features case studies that illustrate the entrepreneurial success story. Her research and individual profile stories provide young entrepreneurs with helpful tips on starting their own entrepreneurial journey. These include the importance of getting professional support and guidance; promoting your company at every opportunity; believing in one’s ideas; being committed to the business, and staying alert to new opportunities.
Among these successful entrepreneurs are Westminster Business School alumni Sarah Watkinson-Yull, owner of Yull shoes, one of the only independent shoe brands manufacturing high heels in Britain, and Kristian Else of hallbookers.com, the first website that gives students a place to voice their opinion on private student halls.Charting their journey – from how they started, who inspired them, how they financed and created their business – Dr Dhaliwal investigates reasons for success, offering advice for young wannabe entrepreneurs.
Sarah Watkinson-Yull started a business first and later chose to pursue a degree which would complement and fulfil her business needs. Kristian Else is a good example of how an individual took their personal problem, in this case with his accommodation, and transformed it into a business opportunity. Dr Spinder Dhaliwal, Reader in Entrepreneurship and the Director of Postgraduate Programmes at Westminster Business School, says: “The business climate is constantly evolving. As entrepreneurship becomes increasingly vital for the growth of the economy, more and more young graduates are taking up the chance to run their own business; it is this young entrepreneurial talent that is needed to identify gaps in the market and use these as opportunities for business success.”
“Wider campaigns around entrepreneurship such as this year’s Global Entrepreneurship Week, which begins today, and my book The Millennial Millionaire: How Young Entrepreneurs Turn Dreams into Business, provide encouragement for today’s creative thinkers and thriving entrepreneurial community. It is important to ensure that universities, governments, public and private bodies continue to support and help develop the future business leaders of tomorrow.” Dr Spinder Dhaliwal’s book The Millennial Millionaire: How Young Entrepreneurs Turn Dreams into Business is available for purchase on amazon.co.uk.
