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Vital businesses resources such as advice and funding should be made more easily accessible to aid entrepreneurship in Britain, new industry analysis reveals.
According to Adam Wayland, editor of Smallbusiness.co.uk, more steps should be taken to encourage younger people to engage and gain the appropriate skills necessary for entrepreneurial success.
Statistics from the Department for Business, Enterprise and Regulatory Reform show that of the 4.5 million business enterprises at the start of 2006, the overwhelming majority - 99.3 per cent – were small business employing up to a maximum of 49 people.
Nearly half of UK residents have considered pioneering a new company formation but one in two are deterred by the fear of failure.
The comments from Smallbusiness.co.uk stress the need to make readily available the tools and assistance for those pursuing a business start-up on a smaller scale.
Mr Wayland said: "Entrepreneurship adds to the economy and there are a lot of people out there that want to start small businesses but feel that they dont have the resources available to them to do so."
He added: "Any efforts to encourage that and provide them with those resources are going to be more than welcome."
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