Looking out for business opportunities on your year abroad, and how to start a company while you're there or when you're back.

1. Starting a business on
your year abroad
Turning your experience into a business opportunity
Lizzie Fane,
Founder of…
The UK’s biggest network of students who
study or work abroad during their degree.

2. 5 Reasons why your year
abroad is a particularly good
time to start a business

3. 1. You are abroad for up to
16 months. Problems occur
which you could solve!
Think: New Product or Service

4. 2. You will develop key
entrepreneurial characteristics on
your year abroad, AND you are a
link between 2 languages and
cultures

5. 3. You discover products and
services which you can’t get
back home and vice versa!
Think: Import/Export

6. 4. You have one or more of
the following… maintenance
and tuition fee loans,
Erasmus grant, salary,
savings, support from
‘friends, family and fools’, no
dependents!
Think: Startup Funding.

7. 5. You have free time.

8. Being your own boss
PROS
•Independence – freedom to make big decisions
•Entrepreneurial, challenging and creative
•Learn a HUGE range of transferable skills very quickly
•You’re doing something you love and are helping people
•It’s really, really fun 
CONS
•1% idea; 99% execution
•Irregular (and LONG) hours
•Little pay (if any!) at the start
•Uncertain future
(You have time for breakfast!)

9. Start a company?! Me?
1. THE TRADITIONAL WAY:
•Spot a problem that affects
a lot of people
•Solve it creatively
2. ANOTHER WAY:
•Take a step back and look
at your degree choice
•What are your hobbies and
interests?

10. Looking for opportunities:
Solving a Problem

11. My business…

14. Types of business
• Import or export your own product (or
someone else’s)
• Develop a service
• Become a freelance teacher, interpreter,
translator, consultant, etc.
• Create a targeted membership network
Start small with a precise target market to
prove your concept, then expand.

15. 1. Work out your business
model
• Selling products and/or services on or
offline
• Online payments: Google checkout
• Membership
• Sponsorship
• Affiliate Sales

16. 2. Define your customer

17. 3. Learn new skills
• On your year abroad + when you’re back!
• University ‘Lifelong learning’ classes

18. 4. Take advantage of what
your university offers
• Entrepreneurial department/society
• Free office space, advice and support
• Student business competitions
• Matching up skilled students
• Entrepreneurial alumni

19. 5. Do your research
• Competitor analysis
• What’s your unique selling point (USP)?

20. Where do you start?

21. Once you’ve decided on
your business model…
• Market research / Build a prototype
• Think of a good brand name
• Check if the domain name is free on 123-reg.co.uk
• Secure your brand: knowem.com
• Check out Smarta.com for advice
• Read ‘The Lean Startup’ by Eric Reis
• Read ‘Business Model Generation’
• Get promoting via social media!

22. Good luck!
If you have any other
questions, visit:
Or get in touch:
fb.com/thirdyearabroad
twitter.com/thirdyearabroad
lizzie@thirdyearabroad.com