A survey by Angel’s Den, the investment network, found that 76 per cent of businesses seeking investment thought that “financial investment with mentoring and business advice” was the ideal package, versus just 12 per cent who said they just wanted financial support.

81 per cent said they had asked a lender for business advice, but almost a quarter of these (24 per cent) said they had been rebuffed, with a further 34 per cent receiving minimal or very brief advice.

Bill Morrow, co-founder and director at Angel’s Den said: “It’s such a shame that so many business owners feel left out in the cold when it comes to getting the advice and mentoring that they need from time to time.

“Finding an experienced business person is willing to both give you the money and help you spend it is the difference between a spectacular company and an average one. Also, from the investor’s side, your chances of seeing a return on your investment sky-rocket if you get involved.

“Offering mentoring is the real difference between investing on paper and investing whole-heartedly. There needs to be avenues there for all types of investors and businesses seeking investment.”

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