Summary Around one in four hold postgraduate qualifications, while about 95% run their businesses full-time rather than treating market trading as a weekend side hustle.
(Web Desk) - More young market traders now hold a master’s degree, PhD or medical doctorate, in a sign of how Britain’s markets are attracting a new generation of highly educated entrepreneurs.
Data reveals one in five traders holds one of these degrees, suggesting Britain’s markets are attracting an unexpected generation of entrepreneurs who are moving away from traditional career paths.
Separate figures from Kerb, the street food collective behind several well-known London food markets, show almost three-quarters of its founders have university degrees.
Around one in four hold postgraduate qualifications, while about 95% run their businesses full-time rather than treating market trading as a weekend side hustle.
The graduates entering the sector include professionals from a range of backgrounds, including solicitors, architects, bankers, nurses and PhD students.
Joe Harrison, chief executive of the National Market Traders Federation (NMTF), which carried out the research, said: “These aren’t side hustles: these are young, highly educated people looking to build full-time careers in the markets; people who wouldn’t previously have even thought of becoming a market trader.”
Harrison said the shift had taken place over the past two to three years: “I was pleasantly shocked by the figures: this is a striking development.
“Up until now, young traders have mostly been school leavers and hobby businesses.
“Professional people who came into market trading were mostly in their 50s, often after redundancy.”
He attributed the change to the evolving nature of employment and the challenges facing younger workers entering the jobs market.
“These are young people who’ve gone through university, often to the highest level, but then looked at the uncertain jobs market and decided to take things into their own hands.
“Market trading offers a wealth of entrepreneurial, AI-proof opportunities.”
Research from the Federation of Small Businesses found almost two-thirds of 18- to 34-year-olds would like to run their own business, although only a small proportion currently do so.
Among those following this route is 23-year-old Amara Iqbal, who graduated with her MBA in May and plans to leave conventional employment to expand her henna business.
Iqbal said: “Market trading is just so much more interesting and challenging than any 9-5 job I could get.
“Every market day is different and success depends on understanding your audience, the atmosphere, the location and even the weather.
“Markets have taught me valuable lessons about adaptability, customer service and building genuine relationships with people from all walks of life.”
Harrison said markets provide an opportunity for entrepreneurs to test their ideas before committing to larger investments.
He added: “You meet customers face to face, see what works and solve problems.
“Those are the same principles you’ll need if you later open your own premises.”
The NMTF launched its Young Traders Market campaign in 2013 after finding the average UK market trader was aged 55.
Since then, the campaign has created more than 9,000 trading opportunities and helped launch more than 700 businesses.
It now attracts more than 1,000 registrations each year from aspiring traders aged between 16 and 30, highlighting a growing interest among young people in building independent careers through market businesses.
