Spinder Dhaliwal from Westminster Business School at the University of Westminster explores how graduates can get ahead in a tough environment.
For entrepreneurs, what starts as a simple idea can turn into a successful business that brings financial rewards, confidence and personal growth. These days, graduates may look at the predictions of a tightening job market and decide that their future is as an entrepreneur rather than an employee.
I business the world is full of opportunity. I’ve researched business for years, and I’ve found that the rapid evolution of technology, changing consumer preferences and the growing focus on sustainability create an exciting environment for intrepid students.
However, success is not guaranteed – just like anyone else they will need to understand their market, and know their competitors, target audience and potential for growth. This is where graduates must use the research skills they honed as students properly. This can help them avoid costly mistakes – things like overestimating the need for their business idea or underestimating the level of competition, for example.
my book, Millennial Millionaireshows that successful small business owners often share certain characteristics: tenacity, calculated risk-taking and a willingness to learn from failure. These factors remain important in 2026, especially as markets become more volatile due to continued inflation, changing interest rate expectations and growing geopolitical tensions.
Graduate businesses have evolved over the years, and the traditional line job where someone stayed with one employer, moving up the ranks through their working life, is a thing of the past. My book highlights how small business owners continue to pursue business ownership not only for financial independence but also for independence, innovation and social impact.
However, it can still be difficult for graduates to make the mark. And business is no playground, either. Rising utility and capital costs, competitive markets and unequal access to capital disproportionately affect certain groups. Women generally have less access to money compared to men, and this is more pronounced for some ethnic minority women. Young people may not have enough personal money.
Businesses cannot be separated from the questions of diversity and inclusion. Graduate entrepreneurs can face both opportunity and inequality when starting a business. In this context, immigrant communities often have a wealth of valuable “getting to riches” stories to share.
According to my friends another studymany Asian entrepreneurs in the UK started with no money but used determination and family resources to build multi-million pound businesses.
For example, the billionaire owner of an airport hotel chain Surinder Arora came from Punjab when he was a child. He worked for British Airways and dreamed of becoming a pilot – but instead invested in a B&B to work for flight attendants.
These lessons remain important: entrepreneurship does not happen in isolation – it is shaped by relationships, identities and experiences.
It’s a unique time to travel alone
AI is clearly changing the game, making this a unique time to start a business that can be built with AI in mind rather than struggling to keep up. Today’s market is more connected, technology-driven and socially conscious than ever before, and tech-savvy graduates are well-positioned to take advantage of these opportunities. Sustainability is no longer an option – consumers expect products to live up to their values and demonstrate social responsibility.
Budding entrepreneurs must use technology to their advantage. This could be for fundraising, market research or accessing support networks. My research is suggestive that entrepreneurs who want to give back to society and care about how their business affects the environment are more likely to build long-term trust with their customers.
For graduates, this means aligning business goals with broader societal needs such as poverty reduction or environmental challenges. The resulting business can take the form of a social enterprise, an ethical start-up or an inclusive enterprise. But these businesses still need to make money and make a profit – you can only give if you have it.
The network it’s a secret weapon. A strong network is important, and graduates already have the foundation – they just need to build on it. They should attend industry events, stay informed about economic trends and learn from experts. A supportive community can help overcome challenges and accelerate growth.
Finding funding is often a major hurdle for new entrepreneurs. The key is the ability to start leaning – “bootstrapping” (ie, starting with little to no money) is a challenge that entrepreneurs are often forced to overcome. Many businesses start with personal savings or family support. But graduates can check out competitions and grants. Then finally, a compelling pitch may attract investors.
Starting a business offers graduates unparalleled opportunities, from using technology to tackling global challenges such as climate change. Success lies in finding love, using resources well and building a strong support network. The future belongs to those who innovate, adapt and take calculated risks. With determination and the right mindset, graduates can turn an idea into a successful business.
Spinder Dhaliwal
Spinder Dhaliwal is a business student and PhD director of the Westminster Business School at the University of Westminster. Her areas of interest are in ethnic minority businesses, women in business and small business owners. He has written about entrepreneurship and the business community, compiled a profile of Britain’s Wealthy Asians showing a long-term interest in the industry and his previous book, Making a Fortune, Learning from the Asian Phenomenon, explored the journey of Asian entrepreneurs in the UK, the challenges they faced, and how they were overcome.
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