Owners would do it all again

Mutiny Festival brought over �2m to the local economy Picture: Paul Windsor

Mutiny Festival brings £2.7m into Portsmouth economy

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ALMOST three-quarters of business owners who started their own firms – half through redundancy – would do it again.

The figures have been released by Regus, which offers business space to small businesses, and focus specifically on Portsmouth firms.

The research also asked respondents about deterrents to setting up a business today – 86 per cent of business owners cite red tape, followed by 79 per cent saying access to credit, and 71 per cent saying lack of government support.

Two-fifths believe the state of the economy deters budding entrepreneurs, and market dominance by large corporations is also highlighted as a further barrier, with 57 per cent saying it was a problem.

Steve Purdy, UK managing director at Regus, which has a base within the Lakeside Business Park in North Harbour, said: ‘This bullish attitude will help lift Britain out of the economic doldrums.’