Some 85 per cent believe the concept needs more firepower and seed capital from government to give it real independence, according to a survey of business people at an event hosted by entrepreneur network E2Exchange.

There are also calls for the state bank to have a direct relationship with SMEs, which would lead to more effective lending.

On the measure to allow employees to swap certain employment rights for shares, which was recently voted through the House of Lords, only a handful (10 per cent) of entrepreneurs support the measure and think they may take advantage of it for their business.

A further cut in National Insurance is the most popular measure to provide further support to SMEs, with many citing it as a one of the most significant barriers to their recruitment and expansion plans. 

More than 70 per cent think that business would be better off under a pure Conservative rather than a Coalition or Labour government.

Shalini Khemka, CEO of E2Exchange says, ‘It was great to give some of the country’s top entrepreneurs an opportunity not only to debate the most important issues for their business but also to put their points of view directly to senior figures responsible for business in both government and the Opposition and help the entrepreneurs who attended influence and shape future policy in these key areas.’

See also: Business bank launches with £300 million pot for small and medium-sized businesses