Online trading boss, 20, says university was ‘a waste of time’

A young entrepreneur has built a £2 million business in his first year since dropping out of university.

Jake Lee, 20, gave up studying economics at Loughborough last February to run Improve Your Future, an online currency trading company.

He now owns a £120,000 BMW i8 with personalised number plates and employs seven permanent staff all under 25, including brother Dylan, 23, as head of business development. Another 13 have been recruited in freelance roles at the start-up based in Canary Wharf and West Malling, Kent.

Business partner Joel Morris, 20, is a social media “influencer” with 2.5 million YouTube subscribers and 630,000 followers on Instagram.

Mr Lee, whose age meant his property developer father Andrew had to buy the 155mph supercar for him, said: “When I was a student I thought £1,000 was a lot of money, now all of a sudden £1 million is amazing.

“Society says youngsters must go to university. Parents think it’s a great thing but it’s a waste of time and money unless you want to work in medicine.”

Mr Lee’s Improve Your Future portal claims to supply investors with all they need to make a profit trading currency on the global Forex market. The platform, with 2,100 clients who subscribe after a free trial, has been valued at about £2 million. In March, IYF plans to launch an equity trading service.