A lack of academic qualifications is no barrier to entrepreneurial success, it has been claimed.
Only 46% of small business owners have a degree, according to research by Barclays Local Business, and only 11% think a good education is crucial for business success.
“This survey really does suggest that entrepreneurialism is a quality born to people, rather than taught,” said John Davis, marketing director for Barclays Local Business.
According to Barclays it is unsurprising some young people are choosing to ‘shun higher education in favour of more immediate financial returns’.
The National Union of Students (NUS) estimates that someone starting their three-year degree in London last September could graduate with debts of more than £27,000.
“In the world of business I can make things happen, sign deals and hire people,” said Sean Scott, Hull entrepreneur and founder internet sock shop, Socks On.
“At university I could attend lectures, read books and do homework. There was no comparison in my eyes.
“I think life is about taking risks and achieving what seems improbable and unexpected. I admire the feckless and courageous and it is usually the entrepreneurs that have these qualities.”
London entrepreneurs are most likely to have a degree according to the research. Around 57% of business owners in the capital have one, compared to 36% of those in the North East.
© Crimson Business Ltd. 2007
