https://insidesmallbusiness.com.au/management/growth/scholarship-for-aspiring-beauty-entrepreneurs-awarded-to-its-first-recipient
Inside Small Business
Scholarship for aspiring beauty entrepreneurs launched to boost small players
Recent research has revealed that Australia’s $7 billion hair and beauty industry is undergoing a structural shift, with more than 60 per cent of professionals now operating as independent or sole operator businesses. But while technical standards across beauty education remain high, industry data shows that business capability is the strongest predictor of long-term success. In fact, more than half of independent beauty businesses close within their first three years, most often due to gaps in pricing strategy, cashflow management and client retention. Meanwhile, fewer than one-third of graduates report feeling confident managing business fundamentals in their first year. With that in mind, Salon Lane, Australia’s shared workspace provider for independent hair, beauty, and wellness professionals, has partnered with the French Beauty Academy to establish the Future Entrepreneur Scholarship, a program designed to support graduates not just into work, but into sustainable business ownership.
