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Self-employment and entrepreneurship

There are lots of different reasons why University of Exeter students and graduates may want to work for themselves. It could be to do with the nature of the sector you are interested in working in, your preferred working style, having a great idea you’re really passionate about pursuing or the flexibility you need due to your personal circumstances.  

There are different ways you can work for yourself, such as being self-employed or through freelance and portfolio careers.  

Many graduates will aspire to owning their own business in the longer term but choose to gain experience in related sectors before taking this option.  

Being entrepreneurial isn’t just for people who want to start their own businesses. It is about a mind-set and approach to work which is all about adaptability, resilience, creativity and problem-solving.  These ‘human only skills’ are becoming increasingly desired by employers. So much so, that the Career Zone embeds these enterprise and entrepreneurial skills throughout our workshops and programmes. By adopting an entrepreneurial mindset, University of Exeter graduates will be equipped to navigate and thrive in the Volatile, Uncertain, Complex and Ambiguous (VUCA) world that is the future of work.

Jargon busting and useful terms

We’ve done some jargon busting to help you navigate key terms connected to self-employment and entrepreneurship: 

Enterprise: Enterprise involves identifying and pursuing an idea with potential. For example, an ‘enterprising’ individual may see a gap in the market which they meet by developing a particular product. The term ‘enterprise’ is French in origin and refers to taking opportunities. 

Entrepreneurship: The Danish Foundation For Entrepreneurship - Young Enterprise use the following definition of entrepreneurship: "Entrepreneurship is when you act upon opportunities and ideas and transform them into value for others. The value that is created can be financial, cultural, or social." 

Freelance: Freelancers are typically considered independent contractors. They often earn wages on a per-task or per-project basis. They are self-employed and can provide services for multiple clients and companies, unless they're contractually committed to working exclusively until a specific project is completed. 

Portfolio career:  A portfolio careerist may undertake a range of roles across different sectors. They are likely to combine various streams of income and may work on a full- or part-time basis, including contract roles and freelancing opportunities. A portfolio career allows you to use your strengths and qualifications flexibly with a great deal of autonomy. 

Self-employed: A self-employed individual works for themselves. They may be a business owner or work on a freelance basis. 

Start-up: A ‘start-up’ is a business in early stages of operating. Start-ups are typically founded by an individual or a small team, looking to create change in the market. Start-ups initially tend to be self-funded or seek investment from external investors. Start-ups are often associated with innovation, creativity and problem-solving. 

Entrecomp: To help you visualise how entrepreneurial skills are embedded in our work, we use the  Entrepreneurial Competence (EntreComp) Framework which consists of three interrelated and interconnected ideas (‘ideas and opportunities’, ‘resources’ and ‘into action’) which each have different competencies within them.

I’m not sure if I want to pursue self-employment or entrepreneurship – can you help?

Yes! We offer careers guidance appointments where you can discuss freelancing, becoming self-employed or building a portfolio or entrepreneurial career. Please use the live chat on this page and ask for an 'Entrepreneurs Guidance appointment' to book.  

You can also access a wide range of support from Student Start Ups. The Student Start Ups team run workshops on ‘ideation’ as well as bootcamps for students looking to gain an experiential understanding of what it means to be an entrepreneur. You can also join them at taster sessions, drop-ins and apply for a place on their incubator programmes. Listen to this episode of the Career Zone podcast to hear how the Student Start Ups team can support students interested in exploring entrepreneurship.

Can I hear from other students who have explored self-employment and entrepreneurship?

In this episode of the Career Zone podcast, graduate George, talks about what it is like to found a start-up, and explores the benefits of working at a start-up for your career development.  More podcast episodes about enterprise, entrepreneurship and self-employment can be listened to via our Entrepreneurship playlist [insert link].  

You can read more about student success stories here: Success stories | Student Startups | University of Exeter.

What skills and attributes do I need to be an entrepreneur?

There is a diverse range of skills and attributes associated with entrepreneurialism. Whilst this isn’t an exhaustive list, consider your competence in the suggestions listed below. If you’d like to develop in any of these areas, consider attending Career Zone skills workshops  and participating in wider opportunities available at university to help diversify your skill-set: 

  • Problem-solving
  • Resilience
  • Creativity
  • Initiative
  • Organisation
  • Leadership
  • Adaptability.

Can I be self-employed whilst I study?

Many students choose to supplement their income by working throughout their studies and some will choose to work for themselves. If you are an international student, be aware that self-employment is not permitted on a student visa. Further information on what constitutes self-employment can be found on the gov.uk website.

What training is available to support me in exploring self-employment and entrepreneurship?

Explore the opportunities listed below. These include optional modules which enable you to add “with Proficiency in Innovation & Entrepreneurship” to your degree title, as well as Career Zone programmes and student societies: