Almost nine out of 10 (87%) entrepreneurs would want to start up another company if their current venture went under, according to research by Barclays Local Business.

Indeed, 85% would see a business failure as a positive experience, saying it would leave them better equipped for their next project while 73% said they would be less likely to make the same mistakes again.

A third (31%) thought they would be more risk-averse, increasing the chances of their business being successful the next time around.

"The UK's small business owners are operating in more difficult conditions at the moment and unfortunately, as the credit crunch begins to bite, there's a risk that some entrepreneurs will find their livelihood under threat," John Davis, marketing director for Barclays Local Business, which carried out the survey.

"However, it's heartening to know that their desire to bounce back from failure is so strong. It takes determination, commitment and tenacity to run your own business, and these qualities clearly stand entrepreneurs in good stead if they're forced to start all over again."

But many entrepreneurs admitted that losing a business would be a bitter blow and two-fifths (41%) felt it would impact on a personal as well as a professional level.

The research added that men were more likely than women to have run another business, with 36% of those surveyed having owned another enterprise, compared to 17% of female respondents.

Women were more likely to suffer business failure due to financial problems (22% compared to 12%) than men, perhaps suggesting that business acumen does come with experience. 

"No one can deny that failure hurts, particularly when it relates to a venture that you've put your heart and soul into," added Davis. "However, the research suggests that the UK's entrepreneurs are recognising that they can emerge older and wiser from such an experience."