45% of would-be entrepreneurs decide against setting up their own business because of the legal and legislative requirements, according to a survey by YouGov.

"It’s no wonder that people are unwilling to start their own business when the regulation introduced by the Government is unclear, confusing and seemingly unending," stated Robin Bloom, senior partner at Dickinson Dees, the law firm which commissioned the research.

Half of those interested in starting their own business wanted more advice and guidance on employment regulations and tax, and nearly 30% of respondents aged 25 to 34 were concerned about the possibility of their venture failing.

The survey was carried out by YouGov between the 10th and 14th of August 2007, and over 2,000 adults were interviewed.

Dickinson Dees is calling for a reduction in red tape and an increase in advice and guidance available to help entrepreneurs and start-ups.