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Start-ups need most help with bookkeeping.

London, UK (26/04/2011)

Survey reveals the number one areas new business owners need advice in.

Accountancy and finance is the area first-time business owners need most help with, a new report suggests.

In a survey of UK entrepreneurs, 56% said cited financial and bookkeeping issues as the hardest to get to grips with when they first launched their businesses. Marketing followed with 29%, while 18% said regulatory requirements were the most daunting.

The research, conducted by Coutts & Co, also questioned business owners on what they believe needs to be done to create more entrepreneurs in the future. The number one priority cited was to develop enterprise courses in schools and colleges.

Respondents also called for more entrepreneurial apprenticeships while a fifth recommended ‘on the job’ learning.

Andrew Haigh, managing partner at Coutts Entrepreneurs, said it was important to get entrepreneurs and business owners together with young people so “setting up a business is seen as a valid career option”. He cited the recent Startup Britain campaign as part of this agenda.

He added: “As well as practical support like this, our own research shows that the top personal traits attributed to entrepreneurs’ success as business owners are perseverance and drive, passion and ambition.”

The Coutts report also revealed that nearly 40% of UK entrepreneurs feel optimistic about the year ahead with 39% planning to expand their business this year.

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