Dragons' Den star Theo Paphitis has urged entrepreneurs to take the opportunity to start up a new business, calling them the "engine room of the British economy".
And Mr Paphitis, speaking in Springboard magazine, believes the importance of small to medium-sized enterprises (SMEs) cannot be overlooked as he revealed that one-in-five households currently rely on them.
He said: "[SMEs] represent a whacking 58% of the private sector workforce. They are pulling this country out of recession by providing jobs."
Although he does think the Carbon Trust loan scheme - a government-backed plan that allows companies to get interest-free loans to replace old equipment - is a fantastic initiative.
He also suggested that companies need to get inventive in the recession, and he has introduced retrospective pay rises for his own staff if budget levels are met.
A former Dragon, Doug Richard, also recently claimed that start-ups need help and recently called for tax breaks to encourage new growth in the industry.
Paphitis 'wants more start-ups'
