Most college grads have started or plan to start a business because they want to increase their earning potential or do work they're passionate about
SEATTLE, June 6, 2022 /PRNewswire-PRWeb/ -- Intelligent.com, a trusted resource for online degree rankings and higher education planning, has published a recent survey report that examines career paths among new college graduates. The study also highlights why most graduates aspire to be entrepreneurs and the top industries for starting a business. Research experts surveyed 1,000 current college students aged 18 to 24.
According to the report, 60 percent of 2022 graduates are currently operating or plan to launch their own businesses. Seventeen percent of respondents say they will continue to run the business they started during or before college. Similarly, 43 percent of students plan to start a business or consider entrepreneurship. Conversely, 27 percent of new college graduates have no intentions of starting a business.
Survey results show that most new graduates want to start a business to follow their passion, increase their earning potential, become their own bosses, or improve the world. Forty-three percent of graduates are pursuing entrepreneurship because they want to do work that makes them excited or enthusiastic. Likewise, 40 percent of respondents believe that self-employment will give them the advantage to earn more income. Thirty-one percent of grads want to become business owners to make the world a better place or control their own pay, policies, and schedules.
"This year's grads are witnessing inflation, food shortages, and a world that has been completely transformed," says small business and startup expert Dennis Consorte. "People are seeking purpose in life, and these graduates want to spend their time working on things they're passionate about, rather than full-time jobs that aren't fulfilling."
The top industry for new entrepreneurs is community and social services, with 12 percent of respondents indicating that their businesses would be related to this field. Ten percent of college grads are considering or planning to launch startups in business and finance, while another 10 percent will focus on the design and visual arts field. Comparatively, only 6 percent of 2022 graduates will plan business ventures in IT, and 4 percent will start businesses in app/website development and design or social media influencing and live-streaming.
The study indicates that most graduates have prepared for entrepreneurship through courses, counseling, and other methods. Forty-one percent of respondents completed business classes offered by their college, 21 percent consulted with instructors, and 18 percent sought guidance from career services or other campus departments. Correspondingly, 31 percent of graduates considering or planning to launch a business have already created a business plan.
Intelligent.com created and paid for this study, which was administered via the online survey platform Pollfish. The survey was distributed, from May 17 to May 22, 2022, to individuals currently enrolled in a bachelor's degree program. Appropriate respondents were identified via a screening question and filter tools. To access the complete report, please visit https://www.intelligent.com/17-of-2022-college-grads-run-their-own-businesses-another-43-plan-to-follow-suit/.
Intelligent.com provides unbiased research to help students make informed decisions about higher education programs. The website offers curated guides that include the best degree programs as well as information about financial aid, internships, and even study strategies. With comprehensive, user-friendly guides and hundreds of program rankings, Intelligent.com is a trusted source among students and prospective students. To learn more, please visit https://www.intelligent.com/.
Kristen Scatton, Intelligent.com, (800) 203-5102, [email protected]