Most teens still believe a university degree is critical to success

A study of 500 16-19-year-olds found 55% view the well-trodden path of higher education as their only possible next step after secondary education. Yet while many have this traditional mindset, 36% are already making money from side hustles.

But others acknowledged there are significant barriers holding young people back, with half (51%) citing lack of funding as their biggest obstacle. While 46% added they lack expert guidance or mentorship to take the next step to go it alone.

The research, commissioned by small business insurance provider Simply Business as part of its Young Entrepreneur Fund campaign, which will award 10 winners grants of £5,000 each following completion of a business support programme provided by youth enterprise charity Hatch Enterprise.

Entrepreneur and musician Professor Green, who is on the judging panel, said: “I didn’t take the conventional route – I left school without any qualifications, and I definitely didn’t get anywhere near university. 

“No grades, no safety net, just a lot of graft and figuring things out as I went. And I know loads of young people feel the same right now. You’ve got ideas, ambition, but no one’s showing you how to turn that into something real.” 

The research also found 61% believe school doesn’t provide the necessary education around business skills. However, nearly half (49%) are motivated by independence for their future professional endeavours as they want to be their own boss.

Another 48% who seek financial freedom believe the entrepreneurial route will help them to earn more money. While 35% hope to turn current hobbies into careers, according to the findings conducted via OnePoll.

Julie Fisher, CEO at Simply Business, which is accepting applications for the Young Entrepreneur Fund until 9th October 2025, said: “Our research tells a compelling story – millions of young people dream of being their own boss. Yet, only a fraction are able to turn that ambition into a reality.

“Small businesses and entrepreneurs are the lifeblood of our communities and economy, and this entrepreneurial spirit represents a treasure trove of opportunity.

“Through this initiative, we are not only providing vital funding and mentorship, but we are also championing the incredible opportunities that entrepreneurship offers.”

Professor Green, who recently met with A-Level students at Project Zero youth centre in Walthamstow to discuss how they felt about their futures added: “It’s about giving people the backing they need to bet on themselves, which in turn helps to support local communities. Not everybody needs a degree to be successful – but you do need belief, support, and a chance.”