Access to finance: Funding is ‘biggest barrier’ for entrepreneurs

ENTREPRENEURS in the North believe that access to finance is the biggest barrier to setting up a new company, according to a survey by EY.

The accountancy group polled 50 individuals and 55% described funding as a key hurdle to launching a business.

Some 53% cited fear of failure while 37% described uncertainty of income as a major barrier.

Only 6% thought that bad market conditions could hold back entrepreneurs, while just 10% cited the possibility of going bankrupt as a barrier.

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