Welcome to The Student Economy. We are a community of people who will help you to build a business around your passions.
The Student Economy is a website designed to be a central hub providing knowledge, contacts, mentors, ideas and custom for aspiring entrepreneurs. Hopefully, we will help entrepreneurs from every country.
We are aiming to organize all types of grassroots entrepreneurial activity world-wide to assist first time entrepreneurs to build their business and reach out to international markets. We hope that we will be able to assist a resurgence of a high-tech cottage industry. And we hope that our community will create businesses that solve problems that matter to society.
The concept for The Student Economy was born when I was discussing ideas with a good friend over coffee in southeast London. We had decided that we wanted to go into business together as it sounded like it would be a lot more fun than being the work horse of a big accounting or consulting firm.
Our coffee time chat turned into a series of meetings where we brainstormed potential business ideas that could be turned in profit making ventures. We ended up thinking of 66 ideas in total and then ranked them in terms of levels of existing competition, technical feasibility, set up costs and potential returns.
At this point, our entrepreneurial vision started to diverge. My friend decided to focus his ideas more on pure commercial viability and what would make the most money where my thoughts were to focus my ideas on vocational desire. I wanted to develop an idea that I cared about even if it made no money because the way I was looking at it, I was already spending my time doing work that did not make me happy, for money. If I wanted my business to be successful, it must allow me to make money doing something I enjoy, or I may as well just continue on my current career path.
So from here, I started to marry the commercial ideas with things that I was genuinely interested in. I have always had an interest in the education sector and have the belief that if society were to design a utopia, then a strong education system instilling strong values and beliefs would need to be at the centre of that society.
In the background of all of this thinking, the 2008 Financial Crisis was happening which resulted in mass unemployment, and was followed by a huge over-supply of graduates into the labour market. I was also affected by the Financial Crisis and gained first hand experience of competing with a massive pool of qualified candidates looking for a job. After going through all of this, I managed to reestablish an interesting career in Risk Management, but the going through the Financial Crisis really made me question why the world was falling apart, who caused the Crisis, who was affected by it, and most importantly how were world leaders going about fixing it.
My research led me to some startling conclusions and I didn’t really agree with leaders that the best way to solve the problem was to print money, and give it to the banks. In the UK, they called this ‘quantitative easing’ but ultimately it saved the banks, raised prices for everyone else, and did little to change the banking culture in the long term. Most importantly, I didn’t believe that this was a sustainable long term solution to restart the world economy. I realized the only way to sustainably reduce unemployment across society was to encourage entrepreneurship. One of the major impacts of the Financial Crisis is that there are not enough good jobs for graduates across the world. So simply put, if graduates want jobs, they need to invent their own jobs, hence become entrepreneurs. So here, I saw the opportunity to connect my love of the education sector and student life with the need to develop more young entrepreneurs. The idea of developing a Student Economy was starting to develop in my mind.
Next, I started to think about what services would be useful for young people looking to start their own business, what services were already out there and where was there a gap between services and needs. I did my due diligence and found where I thought I could position The Student Economy that would hopefully help people and give my business idea a real purpose. And the result of all this thinking and planning is what you see on the website today. Hopefully you will find useful and interesting information on The Student Economy and the community will be able to support your future business success.
The support you will find on The Student Economy includes:
• Inspiration for business ideas
• Tools for introspection
• Guidance and contacts
• Stimulating debate about the purpose of business
• Young business reviews
• World Start-Up events
• Recommended reading lists