A survey of pupils at an enterprise event in the city found more than half would rather borrow £50,000 to start their own business than go to university and leave in debt.

The School to Start-up event took place at Said Business School, in Frideswide Square, and was organised by Oxfordshire Business First.

Big names in business helping the would be entrepreneurs along included the founder of The Fabulous Bakin’ Boys, Gary Frank, and former winner of the Deloitte Technology Fast 100, Ben Goss.

The biggest barrier to starting a company, chosen by 38 per cent of the audience, was a lack of contacts.