Posted by: the3rdi | July 14, 2010

Top tips for graduating students setting up their own business

With approximately 70 applications fr each graduate job*, many students leaving university this year will e looking for an alternative to employment to boost their skills and earn money.

For graduating students thinking about setting up their own business, three entrepreneurs from Nottingham Trent University’s enterprise unit, The Hive, share their tips in a video about setting up on your own. From finding the confidence to go it alone, to researching and focusing your idea and to where to go for support, the entrepreneurs talk about their experiences of developing a business idea.

Sharing his wisdom is Kawsar Miah, who started his electrical wholesale business, Digicom Solutions, during a Student Placements for Entrepreneurs in Education (SPEED) programme. The programme allowed him to spend a year working on his own business idea in the middle of his business studies degree, rather than taking an industry placement.   In his first year of trading, Kawsar achieved £1 million turnover and was named Midlands Young Entrepreneur of the Year in the 2009 Midlands Business Awards, as well as gaining a place in the national finals of the HSBC Start up Stars Awards.

Matt Harris, founder of recently launched TagBak, came up with his business idea after loosing an iPhone in a taxi.  Matt’s loss protection service helps people to reclaim their lost valuables with labels featuring unique ID numbers, which are stuck onto possessions and then registered online. They each state ‘reward for return’ on them, with an 0800 number and website.  If an item is found, the finder can get in touch with TagBak, who will then reward them on the owner’s behalf and return the item within 24 hours.

Also giving his tips is Daniel Hill, who founded Pulse Student Network two years ago. The business began by creating customised clothing for Nottingham Trent University students and now sells over 10,000 garments per year. They also handle event management and a student discount card is in the pipeline.

All three entrepreneurs completed degrees at Nottingham Trent University before turning to The Hive for support with developing their business idea.

Phil Clarke, student enterprise advisor at The Hive, also shares his tips in the video. He said: “As competition for graduate jobs intensifies, setting up on your own can be a daunting alternative. We’ve helped over 150 businesses to launch and our entrepreneurs have experienced all sorts of challenges and successes. Advice from someone who has been there and done it can really help to build confidence and give someone the motivation to give it a go.”

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