An increasing number of UK graduates prefer to start their own business rather than accept the uncertainty of today's labor market.
“The recession will certainly demand a more entrepreneurial spirit among today’s graduates. There will be many who cannot get suitable employment and who turn to self-employment, freelancing and entrepreneurship out of need.” - Said Dan Corlett, entrepreneurship development manager at the University of Birmingham Business School.
Surprisingly, the recession in effect may help young startups by making office space and workforce more affordable. Reportedly, three percent of UK graduates opted into self employment, rather than joining the unemployment lines.