Where founders are forged: the universities that produce the most business leaders

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Where you choose to study can project you forward or potentially hold you back. For aspiring founders, the right university doesn't just offer a degree. It offers access: access to networks, to mentors, to funding, and to like-minded, ambitious peers. Our LinkedIn analysis reveals which UK universities are producing the highest number of founders into the world of business, in order to see which institutions are successfully nurturing entrepreneurial talent.

Topping the list is the University of Cambridge with 31,575 alumni having gone on to launch businesses. This is the most out of any UK university. This prestigious university is closely followed by other Russell Group universities, which is a collective known for its strong commitment to research and close ties to business and the public sector, including The London School of Economics and Political Science (LSE) and The University of Oxford, with 28,627 and 25,758 founders respectively. Its unsurprising since all of these institutions have long-standing reputations for academic excellence, but they also foster environments that support innovation and ambition, as well as spotting and nurturing entrepreneurial ambition.

However, beyond the usual suspects, there are other universities that also show a strong entrepreneurial trajectory. Institutions like University College London (UCL), the University of Manchester, and Kings College London each boast more than 14,000 alumni founders. Meanwhile, more specialist institutions such as the University of the Arts London and London Business School prove that entrepreneurial success isnt limited to one path. Both creativity and commerce can thrive side by side.

Universities with the most founders alumni on LinkedIn overall

Infographic - Universities with most founders alumni on LinkedIn

While some of the top ranked universities may lead in volume, the true entrepreneurial powerhouses emerge when you look at the proportion of alumni who go on to start their own ventures. By this measure, London Business School (LBS) takes the crown. A remarkable 12.1% of its alumni have become founders, which is a significantly higher proportion than the 7.7% recorded at both Oxford and Cambridge and 9% for The London School of Economics and Political Science.

So, this suggests that while these prestigious universities produce the most founders overall, institutions like LBS and University of the Arts London (11%) have a higher proportion of founder alumni. Whether that's through curriculum design or an innovative culture, these universities should also be considered as breeding grounds for business talent.

Universities with the highest percentage of founders

Infographic - Universities with highest percentage of founders

* Only universities with over 5000 founders on LinkedIn were included on this table.

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Universities with the highest number of student startups

Some eager entrepreneurs don't even wait to finish university before setting up a business, whilst others start shortly after completing their degree. Looking at Higher Education Statistics Agency (HESA) data, covering all new businesses started by students currently registered at the reporting higher education provider (or who have exited the reporting HE provider with an award within the last year), we can see which universities are inspiring the most student start-ups.

In the year 2023/2024 there were a total of 4738 newly registered student start-ups from higher education institutions in the UK, but not all providers are producing them in equal numbers.

In 2023/24, the University of the Arts London topped the list for the most student-founded businesses, with 493 startups, followed the University of East London (215) and Royal College of Art (175).

Student start-ups by higher education provider in 2023/24

Chart - Student start-ups by higher education provider comparison

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Universities of the future: where business students are founded

The entrepreneurial spirit doesnt just begin after graduation. For many, it starts in the classroom itself. So much so, students choose to dedicate at least three years studying business and management in higher education. While traditional powerhouses like Oxford, Cambridge, and LSE continue to produce high numbers of founders, our data suggests that business education is booming at other institutions.

Between 2022 and 2024, several UK universities and colleges saw a dramatic increase in students enrolling in business and management courses. Leading this charge is Birmingham Newman University, which saw a staggering 573% increase in business students year-on-year, jumping from just 150 students in 20/23 to over 1,000 students in 23/24. This establishment isnt alone. Bishop Grosseteste University in Lincoln saw a 266% rise, Ravensbourne University London had 155% and Bath Spa University had an 80% surge in business enrolments.

So, its clear that while these universities arent typically associated with entrepreneurship, their extreme growth highlights a shift in the education landscape. Students are increasingly seeking practical, career-focused degrees. It seems that business degrees can open doors across industries, from finance and marketing to logistics. As these courses offer a practical toolkit, they provide students with the options to navigate their future the way they want. So, whether students want to climb the corporate ladder, or launch a business for themselves, theyre well equipped to face whatever comes their way after they graduate.

Higher education providers with the largest shift in students studying business

Higher Education Provider	2022/2023	2023/2024	% Change
Birmingham Newman University	150	1010	573%
Bishop Grosseteste University	160	585	266%
Ravensbourne University London	1400	3565	155%
Bath Spa University	6295	11330	80%
Northeastern University London	120	215	79%
Christ the Redeemer College	170	290	71%
Mont Rose College of Management and Sciences	445	745	67%
Brit College	105	175	67%
Results Consortium Limited	355	580	63%
British Academy of Jewellery Limited	780	1255	61%

A degree is not required for anyone to become a founder, and it doesn't automatically guarantee business success. However, those that attend a Higher Education establishment will have exposure to the foundations of business through resources readily available or the business related course they choose to study, potentially making them more prepared for the operational side of running a business.

Self-employed professional happily working from home with laptop and documents.

As the landscape of self-employment continues to evolve in the UK, this report takes a considered look at the current challenges and prospects facing the self-employed sector.

As societal needs and professional expectations evolve, the demand for flexible and highly specialised services continues. This places considerable demands on self-employed business owners and freelancers to adapt and innovate in response to changing market conditions. Amongst these challenges, freelancers and self-employed workers play a crucial role in meeting the diverse needs of their clients, delivering tailored solutions that help them to stand out and thrive in the economy.

In this comprehensive report, Markel presents a nuanced exploration of the intricacies and opportunities that exist in the self-employed sector. It also draws upon insights from industry experts taken from a survey of freelancers, as well as a plethora of industry data. Together, this provides an in-depth view of the self-employed and freelance landscape and explores the various factors that can impact the future of freelancing.

Fundamental to this report is an understanding of the indispensable contributions freelancers and the self-employed make to our economy across various sectors while grappling with a range of challenges. This includes everything from financial constraints and access to benefits to the need to adapt to an increasingly competitive marketplace. However, even facing these types of pressures, freelancers remain resilient and driven to succeed in their respective industries.

Executive summary

Self-employment plays a crucial role in driving economic growth and innovation. It creates a dynamic and flexible workforce, allowing individuals to create their own opportunities and contribute to the economy. However, the landscape of self-employment in the UK continues to evolve, reflecting shifting economic trends, challenges faced and changing work preferences. This comprehensive report provides a detailed analysis of the current state of self-employment, exploring challenges, opportunities and demographic breakdowns within the freelance workforce.

As of January 2024, the number of self-employed workers in the UK stood at 4.33 million. And while this is a sizeable figure, the numbers have fallen from an all-time peak of just over 5 million at the beginning of 2020.

However, the demand for flexible and specialised services from hiring businesses continues, placing considerable demands on freelancers to adapt and innovate in response to changing market conditions. While the cost-of-living crisis continues to cause challenges for most people, freelancers are also feeling the pinch, with over half (51%) citing that they are experiencing irregular income due to economic issues. In fact, in the list of top-10 challenges freelancers and self-employed people face, half of them are finance-related worries. This topic is explored further in this report.

Additionally, certain industries have seen significant shifts in self-employment rates. Notably, sectors such as public administration and defence, information and communications and finance have all seen growth, which can reflect the growing demand for specialised skills and services in the digital age. Moreover, analysis of demographics reveals interesting trends, with women increasingly participating in traditionally male-dominated industries such as construction and transportation, while men are leaving the industry for other options such as real estate.

We looked at not only the issues and daily complications that come with freelance work, but also the benefits that come with it. And even with the financial insecurity, 92% of those questioned in the survey would still opt for the freelance life over the traditional 9-to-5.

To predict the way self-employment is going, we also reached out to freelancers and self-employed individuals to see what they expect for the future of freelancing.

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