Top 15 Business Ideas for Economics Graduates

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training? Top 15 Business Ideas for Economics Graduates

Top 15 business ideas for economics graduates. Seeking An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training? Business Ideas for Economics Graduates

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

Research by the Institute of Fiscal Studies (IFS) suggests five industries provide 74% of non-graduate job opportunities. These firms demand numeracy and literacy skills rather than degrees: Business Ideas for Economics Graduates

Top 15 Business Ideas for Economics Graduates

  • 1)  Administrative and secretarial work
  • 2)  Sales and customer service
  • 3)  Leisure, travel and tourism
  • 4)  Public services
  • 5)  Skilled trades.

If you are prepared to start your own business there are even more opportunities available. An analysis by PricewaterhouseCoopers of the last 11 recessions for between four and 10 years found more than three million new businesses were created, of which 95% survive.

The Federation of Small Business claims four out of every five jobs in the UK are created by small firms; they employ 23m people and makeup 99% of all businesses – but only 7% get bank loans.

Small firms are also the biggest generator of employment in Scotland, accounting for more than 20% of all jobs. They are frequently run by self-starters with few staff but provide opportunities to the young unemployed, allowing them to become more employable and build on job skills.

Business Ideas for Economics Graduates

1)  Administrative and secretarial work

With the increase in computerisation more jobs are coming online and out of offices. With the Office for National Statistics claiming 46% of firms no longer employ a permanent secretary, all but 2% of businesses may be able to get by with a better-trained temp or office junior.

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

2)  Sales and customer service

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

With the decline of manufacturing and the rise of service economies, sales roles have increased by 21% in the last five years. Today’s salespeople need to be computer literate and able to think on their feet when dealing with people from different cultures.

The British Chambers of Commerce (BCC) estimates there will be a shortage of 400,000 sales and marketing staff by 2013.

3)  Leisure, travel and tourism

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The BCC believes the sector will grow by 18% in the next three years; however, not all tourism jobs are created equal.

With 2m jobs in catering & hotel services, 1.1m in travel agencies and nearly 600,000 in recreation and entertainment (leisure sectors) there is no shortage of work if you want to serve tourists or visit foreign countries. However, most of these jobs are likely to be short-term and low paid; two-thirds of waiters earn less than the living wage (a rate that allows an employee to meet their basic needs including housing costs).

4)  Public services

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

There is no doubt there will be a shortage of public sector workers. The government estimates the biggest growth areas over the next decade will be doctors (+39%), nurses (+27%) and teachers (+18%). Hospitals will need more staff to care for Britain’s ageing population, and schools will need more teachers and teaching assistants.

The government estimates the UK could face a shortfall of 150,000 nurses by 2015 and 90,000 teachers by 2014. The health service is also facing a financial crisis with many hospitals struggling due to cuts in budgets.

5)    Hospitality

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

Some hospitality jobs can bring high salaries. Chefs can expect to earn more than £30k while hotel managers could do even better; however, these are positions that require considerable training and experience.

Regardless of how well the service industry is faring economists believe people would still prefer to spend their money on eating out rather than buying new clothes or gadgets. With this in mind, the hospitality industry should continue to do well over the next few years.

6)  Service industries

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

If you’re looking for a job that allows you to develop new skills there’s no shortage of opportunities. With IT and customer service two of the fastest-growing sectors, there is a huge number of jobs available in software coding and call centres.

If you’re looking for something more hands-on, there are lots of opportunities working on logistics with companies such as DHL and in retail with firms like Next. A final option could be constructed where employment is expected to grow by up to 25% over the next decade.

7)  The public sector

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

Since 2010 there has been a rapid increase in government and public sector jobs. The coalition has announced plans to cut the public sector workforce; however, with an ageing population, this is likely to be a slow process.

In addition, many of these new jobs are temporary or part-time so you need to consider if you want something long-term before applying. Finally, most of these positions have been in administrative roles, but this has been slowly changing in recent years with the growing focus on nurses, teachers and doctors.

8) Creative industries

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

If you’re looking for work where your creativity is encouraged and hard work is rewarded, the creative industries are an option. Many people will have heard of successful writers, musicians or artists; however, there’s also a wide range of jobs in design, advertising and marketing.

There are lots of graduates willing to take these roles so it can be incredibly competitive, but if you’re passionate about what you do it could be worth the effort.

9) Construction

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

Construction is set to become an increasingly popular sector over the next decade. There are already more than 1 million jobs available throughout the UK, but this number is forecast to increase by up to 25% over the next decade.

If you have experience of using tools or working with technical equipment this could be a good industry for you since it doesn’t require any formal training. Some of the jobs may be temporary or seasonal, but this could still be an option if you only want to work for a few years.

10) IT

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

IT is an obvious option for graduates since it combines technical expertise with communication abilities. Jobs are available throughout all industry sectors, including banking and finance, retail, health care and the public sector. As well as offering good salaries IT professionals also enjoy significant benefits such as flexible working hours and employee discounts.

11) Financial services

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The financial services industry is one of the best paid in the UK. Whether you’re working in banking, insurance or accounting there are lots of opportunities to progress your career.

In addition, almost all jobs in the financial services industry require a good standard of education. In areas such as fund management and wealth management, you need to have relevant qualifications or experience before applying for roles. However, if you don’t have what it takes there are other options in the sector including administration and customer services.

12) Transport and logistics

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The transport and logistics industry is another growing sector. Jobs in this area include drivers, couriers and handlers; however, there’s also a large number of roles in areas such as IT and insurance. There’s a growing demand for better tracking and tracking systems to make the network safer, more efficient and less susceptible to crime. You could work in sales or telecommunication since there are lots of opportunities to promote new technologies to clients.

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The transport and logistics industry is another growing sector. Jobs in this area include drivers, couriers and handlers; however, there’s also a large number of roles in areas such as IT and insurance. There’s a growing demand for better tracking and tracking systems to make the network safer, more efficient and less susceptible to crime. You could work in sales or telecommunication since there are lots of opportunities to promote new technologies to clients.

If you have experience of using tools or working with technical equipment this could be a good industry for you since it doesn’t require any formal training. Some of the jobs may be temporary or seasonal, but this could still be an option if you only want to work for a few years.

13) Farming and agriculture

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The farming and agriculture sector is another area that doesn’t require any formal qualifications. It’s one of the few industries where you can work your way up from the bottom of the career ladder to the management level. As well as manual roles such as driving or labouring there are also office-based jobs such as animal nutritionists, vets and management roles.

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14) Leisure and tourism

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The leisure and tourism industry is a major economic driver for the UK. It’s an area that offers a wide range of jobs and careers, from entertainers and bar staff to hospitality management and sales roles. Tour guides and fitness instructors are also in demand as more people take up tourist activities instead of travelling abroad.

15) Marketing and advertising

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The marketing and advertising industries are part of a wider communications sector. There’s scope for roles ranging from working as a market researcher to public relations officers. The sector has changed rapidly over recent years due to the rapid development of new technology. There’s no formal training required but marketing professionals should have strong communication skills and be able to work under pressure.Business Ideas for Economics Graduates

Art institute – for those interested in graphic design, web design, illustration, fashion design or photography An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

The art and design industry covers a number of roles and careers. You could work as a fashion designer, illustrator or graphic artist; however, there are also large numbers of jobs available in areas such as set design and architecture.

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conclusion:

An economics degree will boost your employability with multiple jobs and careers available, but if you don’t want to work in an office or in sales, what are the options for employment without further training?

There’s no clear picture when it comes to choosing a career; each industry has its advantages and disadvantages. The important thing is that you choose a career that’s right for you and one where you can see a clear path of progression, no matter what degree subject area. Business Ideas for Economics Graduates

You could work in sales or telecommunication since there are lots of opportunities to promote new technologies to clients.

If you have experience of using tools or working with technical equipment this could be a good industry for you since there are lots of opportunities to use them. Business Ideas for Economics Graduates

Much of the medical industry is currently in a state of transition because new technologies are being developed all the time, which offers career opportunities for anyone interested in healthcare.

Top 15 Business Ideas for Economics Graduates

 Top 15 Business Ideas for Economics Graduates
Top 15 Business Ideas for Economics Graduates

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