University of Cumbria is 3rd in the north for students to start or manage a business
A new study involving 9.5 million former students has revealed the best universities’ in the north and south for students to study at, with the aim of starting their own company or running a business in key managerial roles such as CEO or Managing Director.
Key stats from the study include:
- One in eight (11.62%) University of Cumbria students go on to manage or start their own business
- University of Cumbria ranks 3rd out of northern universities and 25th in the study overall – up from 116th in the UK League Tables
The research was commissioned by Hitachi Capital Invoice Finance on over 9,500,000 previous university students in the UK. The study identified the university that has the most students who would start their own or run a business.
The top universities for business leaders are all located in the south of the UK, however, northern universities generated impressive results. The 71st best university in the UK, the University of Bradford was the highest scoring university on the other side of the North vs South divide with one in eight (12.14%) graduates forming start-ups and ranking at 19th in the study.
The University of St Andrews, the second-best university in the north, ranked in 23rd position in the study with 11.90 per cent of alumni becoming CEOs or business owners.
The top three northern universities are completed by the University of Cumbria which has over one in ten (11.62%) students using their degrees for business leadership roles.
Over one in ten (11.60%) alumni from the University of Manchester created their own company and fulfilled key managing director roles. The red brick university ranks 4th amongst the northern universities and 26th in the UK study overall.
The top five northern universities list is completed by the University of Salford which has 11.17 per cent of students finishing university to become entrepreneurs or CEOs.
University of Cumbria Vice Chancellor, Professor Julie Mennell said: “We are delighted to be ranked as third in the study by Hitachi Capital Invoice Finance. We are working hard to embed entrepreneurship and innovation throughout the university.
“In Cumbria and the broader region we have significant higher level skills needs and lower than national average productivity levels to address. Graduates with the know-how and confidence to run and start-up their own businesses are helping to bridge this gap.
“With a new Institute for Business, Leadership and Industry recently established, including appointments from industry, as well as academia, and a focus on addressing regional sector needs, we are intent on doing more.
“Contracts with the BBC, Rolls Royce and BAE focused on upskilling their workforce, coupled with our new professors of practice, Professor David Gibson OBE, an international enterprise educator, and Professor Sir Cary Cooper CBE, an American-born British organisational psychologist, show our continued commitment and I am confident our university will continue to further its impact for our region's economy.”
Full details of the Hitachi Capital Invoice Finance study can be found HERE.
Top 5 Northern Universities:
| University | University Rank | Study Rank | % |
| University of Bradford | 71 | 19 | 12.14% |
| University of St Andrews | 2 | 23 | 11.90% |
| University of Cumbria | 116 | 25 | 11.62% |
| University of Manchester | 40 | 26 | 11.60% |
| University of Salford | 91 | 30 | 11.17% |
Top 10 Universities:
| University | University Rank | Study Rank | % |
| University of the Arts London | 39 | 1 | 19.85% |
| Falmouth University | 52 | 2 | 19.77% |
| London School of Economics (LSE) | 19 | 3 | 16.10% |
| University of Oxford | 3 | 4 | 15.23% |
| University of Cambridge | 1 | 5 | 14.85% |
| Goldsmiths, University of London | 100 | 6 | 14.77% |
| Middlesex University | 109 | 7 | 13.51% |
| University for the Creative Arts | 13 | 8 | 13.48% |
| Imperial College London | 7 | 8 | 13.48% |
| London Metropolitan University | 111 | 10 | 12.93% |
ENDS
Picture 1 - Top 5 Northern Universities to be a business leader graphic
Picture 2 - North vs South Best Universities to be a business leader graphic
Notes to editor:
HCIF commissioned this study involving 9,544,010 former university students in the UK. This was obtained by using LinkedIn data of all the students with the university on their profile, who have job titles associated with starting or running a business.
About Hitachi Capital (UK) PLC
Hitachi Capital (UK) PLC is a leading financial services company with over 30 years’ experience providing innovative finance solutions to enable consumers, SMEs, fleet owners, motor dealers and retailers to grow and prosper. Hitachi Capital (UK) PLC has over 1,200 employees, nearly £5bn of assets and over 1 million customers across its five business units; Consumer Finance, Vehicle Solutions, Business Finance, Invoice Finance and European Vendor Solutions.
Hitachi Capital (UK) PLC is a wholly owned subsidiary of Hitachi Capital Corporation, one of Japan’s largest non-bank financial institutions. Hitachi Capital Corporation is an associated company of Hitachi, Ltd. the global manufacturing and technology firm. Manufacturing continues to be a key part of Hitachi Capital (UK) PLC’s DNA, delivering complex products to high levels of customer satisfaction. Its corporate clients include some of the UK’s leading companies such as British Gas, Royal Bank of Scotland, B&Q and John Lewis.
Hitachi Capital Invoice Finance (HCIF)
Hitachi Capital Invoice Finance, a division of Hitachi Capital (UK) PLC, provides cashflow finance solutions to SMEs across a wide range of sectors in the UK, allowing businesses to release cash from unpaid invoices. In early 2019, FLi was launched to market, the new industry first all digital application process. This has helped Hitachi Capital Invoice Finance achieve a record number of new clients to over 800 up 15% on the previous year. In 2018/19, Hitachi Capital Invoice Finance lent over £80.562m and generated record new business levels.