Northumbria University expects interest in student start-up businesses to double
As one of the UK’s top ranking universities for employability, Northumbria University is urging students to invest in developing their skills and benefit from the opportunities, connections and expertise that the University can provide while the economy begins to emerge from the effects of the pandemic.
Northumbria University, Newcastle is already ranked second in the UK for enterprise, based on the turnover of businesses started-up by its graduates. The University has assisted in the creation of around 300 businesses in the last decade, which now employ more than 1,000 people and turnover £84 million a year.
In a post-COVID world, this kind of focused support for budding entrepreneurs will be transformational, says Head of Student and Graduate Enterprise, Graham Baty.
“Northumbria University helps around 100 students into self-employment each year and supports around 30 to 40 new businesses. I expect these numbers will significantly increase, and potentially double, over the next couple of years,” he said.
“This was a route we had already identified, given the advancement of technology and the move towards portfolio careers where people will move frequently between roles and organisations. But the pandemic has accelerated it, because it has forced individuals to consider alternative career paths.”
Building on the success of its enterprise support, Northumbria launched a business incubator at the end of 2019 to offer ambitious students from all courses the opportunity to tap into specialist advisors and unleash the potential of a business idea.
The Incubator is supported by funding from the North East LEP, the Sir James Knott Trust and Santander Universities, who provided £100,000 plus an annual contribution that helps Northumbria boost employability skills.
Graham said that the incubator is key to helping students critically evaluate business ideas. “We can offer long-term support spanning anything from three months to three years using our network of specialist advisors to get them trading. Thanks to our links with businesses, advisors who are experts in their field also provide one-to-one coaching as part of the programme.”
In addition to meeting increased demand from students interested in freelancing, self-employment or business start-up, the University is committed to helping individuals prepare for a portfolio career, with skills that will allow them to work within a multitude of organisations in different ways.
Extra curricula activities include weekend bootcamps to equip students with skills around networking, how to pitch a business idea, how to develop proposals, team working, and interrogating ideas.
“This isn’t geared only towards students who want to explore self-employment,” said Graham. “It’s an approach across the organisation to embed enterprise in the learning journey and make our graduates more employable. We are encouraging that mindset around career planning from day one.”
The University’s own research has revealed more than 70% of its extensive national network of employers will continue to engage with students and graduates to provide placements and employment opportunities as the economy recovers.
Victor Ottaway, Northumbria’s Head of Placements and Internships, said that a team of new business development advisors has been appointed to work with employers to increase the number of opportunities. This will help students navigate a more challenging employer landscape, secure work placements and demonstrate their value.
“Students and families will likely be concerned about starting university in a COVID-19 world, but organisations are still getting in touch with us about opportunities, which is really positive,” he said.
“Employers are looking to recruit graduates with cutting-edge skills and knowledge gained during university. Students who have gained valuable experience from work placements and internships offer those skills and knowledge which is vital for navigating a post-COVID working world.”
Northumbria University has relationships with some of the country’s biggest employers, such as Nike, Santander and the BBC, and many graduates go on to work for multinational companies, SMEs, and public sector organisations.
Ottaway added: “Companies of all sizes are looking at alternatives to ‘the norm’ due to COVID-19. This means there is a focus on working from home and that offers some real positives. Given that some of the biggest organisations in the world are committing to this way of working long-term, it will be valuable to have professional experience in that environment, rather than waiting for a return to ‘normality’, that is currently uncertain.”
A small number of places in selected subjects will be available through Clearing for high quality students.
Anyone wanting to find out more can visit www.northumbria.ac.uk/clearing, call 0800 085 1085 or speak to the live chat team on the University’s website.
