Stumbling block for start-ups

An increasing number of people would like to start their own business, but many do not where to start, according to a survey from business adviser and accountant PKF.

Findings from the survey show that employees are finding themselves stuck in their jobs because of a lack of knowledge about where to turn to for advice.

Nearly half of those surveyed (43%), said not knowing where to start was the biggest barrier stopping them achieving their dream and starting up their own business. A further 30% said they could not start their own business because they believe it costs too much money.

Other reasons given for not starting businesses were too much red tape (6%), lack of information (6%) and family pressures (6%).

“This sends a strong message to the Government that they need to do more to encourage entrepreneurship. Over the past 50 years, successive UK Governments have piled on the paperwork, making running and setting up a business a daunting prospect. Government agencies to help start-ups should be made more visible and accessible,” says Nick Winters, partner in charge of growing businesses at PKF.

He adds that entrepreneurship should be championed in schools and pupils encouraged to take risks.

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