University of Central Lancashire (UCLan) has been ranked top in the north and fourth nationally for the number of graduate start-up businesses created.

According to the 2017/18 data provided by Higher Education Statics Agency (HESA), there have been 201 start-ups from UCLan meaning that the institution has ranked highly in both the north and nationally.

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UCLan’s Interim Director of Innovation and Enterprise, Professor Sue Smith, said: “The University has long since been a sector leader for the large number of start-up businesses created by our students and new graduates.

“We have invested time and resources through our ‘Propeller’ enterprise hub to help our graduates develop their ideas and turn those dreams into a reality.”

The report was produced by sales recruitment specialist Pareto Law, which revealed that in 2018 the estimated total turnover of over 14,000 graduate start-ups was more than £882 million.

That figure is more than the turnover of HelloFresh (£802 million) and BooHoo Group (£603 million). Therefore, this clearly shows the significant contribution that student entrepreneurs make to the wider UK economy.

CEO of Pareto Law, Jonathan Fitchew, said: “In uncertain economic times it is great to see that student-founded businesses have found a way to grow and thrive.

“The challenges faced by any graduate who has started a business over the past few years are significant and those who manage to make the grade should be proud of everything they’ve achieved.”

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Operation Director at Save the Student, Jake Butler, said: “The idea of students starting their own ventures, big or small, is not only excellent for the students themselves but also the wider economy.

“You don’t need £1000s to start and there’s not even a need to set the wold alight and going it alone can be a great experience.”

Are you a former student that has created their own start-up business? Let us know in the comments below.