Running a Small Business While Studying in London – The Risks and Rewards

University is supposed to be a time of advanced learning, socialising and having tons of new experiences. A great way to combine all three of those things together is by starting your own small business while studying. And where better than the heart of business in London?

It may seem unfeasible to many but there are lots of examples of students successfully setting up small, independent businesses nowadays. Many of these have gone on to turn large profits so the idea holds a lot of advantages as well as a few downsides.

Great Experience

Running your own start-up business could be based around anything you’re passionate about or think there’s a gap in the market for. From importing foreign food and drink to providing a local service, it will present a great opportunity to work in a field you’re interested in.

Start-up business are a fantastic way to develop and demonstrate entrepreneurial skills which are extremely helpful if you go on to look for a graduate job rather than continuing your business. Even if your company isn’t successful you’re sure to learn valuable lessons from the whole experience.

Improved Funds

A major reason many students start their own business is for an increased income. You will still have a student loan and/or grant to fall back on, unless this is invested in the company. If your business is a success then you could end up finishing university having made a profit. This also means you’ll be in a solid financial situation to both continue the business and have more opportunities open up.

Find a Base

Starting with limited funds does mean that it can be more difficult for your business to present itself as polished and professional – after all, you can’t hold a client meeting in your bedroom, even if it is technically your office. Using a virtual office is a great way to have an affordable base in the capital, which will impress potential clients and investors.

Your company is more likely to be taken seriously with a professional address rather than a dorm room in student halls. This also provides smart meeting rooms available for business purposes at a fraction of the cost.

Stay Focused

Focusing more on your business is going to see it grow and become profitable far sooner. Remember, though, that you’re still at university and it can be easy to fall behind in your studies, so get the balance right. It can be a big risk dropping everything to follow your start-up, especially if it fails, but starting a business in London is practical and worth a shot for the valuable experience it will add to any CV.

Tags: student business

Category: Student News