A third of British people want to or have already started their own business, according to a new YouGov survey commissioned by Intuit. However, many prospective entrepreneurs have put off their decision due to recession fears.

The results of the research show that while many Brits would like to run their own business, the recession has had a damaging effect on entrepreneurial confidence. Only 14% believe that now is a better time to start a business than a year ago. Furthermore, 40% of those that do want to set up their own business blame the recession for delaying their plans.

Setting up a business is a serious commitment for British people. In fact, 68% of those that dream of starting their own business actively considered doing so over the last three years. However they are not planning to realise their dreams immediately, as 46% are not planning to start a business in the next twelve months.

"It's completely understandable that British people are taking a more cautious approach. The good news is that the desire to become an entrepreneur is still alive and kicking for lots of Brits, but many of those potential business owners are intending to delay their plans until the economy has improved," said Catherine Harrell, Small Business Specialist at Intuit UK.

"While our research shows that many people are still actively considering setting up a business. It highlights that many are putting off the decision due to worries about the recession. As small businesses contribute more than 50% of the UK turnover and employ almost half the working population, it is clear that more must be done to restore confidence and encourage entrepreneurship in the UK.

Ian Walker set up his Engineering supplies company, Antares Supplies, in 2006. He advises that running a small business during the recession has been challenging but worthwhile. "Running your own business is incredibly hard work but the rewards are enormous. For example, I have had more time for family life and I also get to meet a range of different people. The most difficult aspects of running my own business have been the worst recession in living memory and dealing with unhelpful banks. But overall, I would not go back to working for anybody else even if my current venture failed."