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Spending public money on business start-ups that are likely to fail, or for wrong, short-term reasons is not a wise use of money, Startup Co said today.
And the government is taking money out of business support and putting it into other areas, the organisation added.
According to the findings of the Global Entrepreneurship Monitor, the UK lags behind other high-income nations in the number of business start-up entrepreneurs expecting to employ more than 20 people in five years time.
The study, produced in association with international accountancy and advisory group Mazars, found that the UK boasted just seven high-expectation entrepreneurs in every 1,000 adults, compared to 15 in the US, 14 in New Zealand and 13 in Iceland.
Mazars suggests that this might be due to incentives offered by larger companies to keep their more entrepreneurial employees.
With a robust UK economy providing attractive career options, large companies often fast-track the talented individuals who might otherwise make ideal high-ambition entrepreneur, Mazars said.
John de Groot, Director of StartupCo, said: "When the general economy declines and self employment rises, the demand on publicly funded business support increases dramatically.
"The spending of public money in helping people to consider and go through the process of developing a business which could be a short term investment is not a good use of our money."
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