ONE in three adults in the South West say they have thought of a great idea for a business, but more than half say a lack of funding stops them making their idea a reality.
The findings were revealed by Virgin StartUp, the not-for-profit organisation, which gives budding entrepreneurs the funding, information and support they need to get their business ideas off the ground.
It also showed that 22 per cent were too embarrassed to share a business idea in case someone thought it was too stupid and more than 26 per cent felt that sharing a business idea would be a waste of time.
Virgin StartUp is now urging would-be business owners to contact them and find out how they can overcome these hurdles and get access to funding and support.
Sir Richard Branson, founder of the Virgin Group, said: “A lack of funding shouldn’t hold brilliant entrepreneurs back.
“It’s concerning that people don’t feel able to get their business ideas off the ground when there’s so much support available to them.
“Launching your own business is one of the most fulfilling and rewarding things you can do.
“I would urge people to take the next step and speak to the Virgin StartUp team, you never know where it may lead you.”
To find out more about the work of Virgin StartUp and to enter the competition to win a mentoring session with Sir Richard Branson visit virginstartup.org.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article