A new survey has revealed that 40% of people have considered starting a business in the last six months, however, 38% would be put off due to having limited knowledge of how a business is run.

The survey of 1,000 people, which was conducted by Perrys Chartered Accountants to raise awareness of the lack of support for small and medium start-ups, also revealed that nearly a third (31%) would look to start a business in online retail, while 28% would start a company offering professional services. Food and drink was also a top choice with 18% saying that starting a business in the sector would be of most interest to them. Londoners are most likely to venture into a new business while those in the North East and Yorkshire were less inclined to invest in a start-up.

Steve Hale, a partner at Perrys Chartered Accountants, said:

“While there is support in the form of government incentives and other services for start-up businesses, many people hoping to invest in a new venture are often in the dark when it comes to the basics and lack the right type of help, advice and support.

“The UK is heavily reliant on SMEs and start-up businesses for income and employment. Their presence will be even more important now we’ve left the EU so it makes sense that there should be more investment in helping start-ups to get up and running in the best possible way from the outset.

“However, we also know that 60% of businesses will fail in the first three years because of a lack of understanding of basic business concepts. One way we are tackling this is by providing start-up businesses with free, informal meetings offering useful advice to help them succeed.”

Perrys’ Get Up and Grow scheme is completely free of charge for start-up businesses. Offered as an informal, no obligation meeting, new businesses will be provided with a wealth of valuable information covering accountancy, bookkeeping and a range of other aspects that should be considered to successfully grow a business.

Steve added:

“We believe with the right help and support more people will be prepared to invest in a start-up business and, if they do, they will have a better chance of long term and sustained success.”