More than half of young people who believe they have a business idea have taken no action to put their plan into practice, finds research that suggests entrepreneurial activity is held up by a lack of advice, writes Jonathan Moules.

A report, based on interviews with 1,720 18 to 30-year-olds by YouGov and commissioned by The Prince's Trust and Royal Bank of Scotland, found 41 per cent aspire to set up in business and 78 per cent had an idea.