More contractors may wish to consider advertising their services, after one expert said that doing so can give small businesses a significant advantage over their competition.

James Charlton, spokesman for the Advertising Association, said that if smaller businesses know their consumer then they are able to run extremely localised, targeted and relevant campaigns, which can really be effective.

Additionally, he said that the the Institute of Practitioners in Advertising projects that for every £1 spent on advertising, there is a £1.50-£2 profit and an average £3 to £5 increase in sales.

Meanwhile, Dr Shima Barakat of the Centre for Entrepreneurial Learning at University of Cambridge Judge Business School said in a podcast that more time needs to be spent encouraging women to become entrepreneurs.

According to the expert, men and women process entrepreneurship education differently and Britain needs to focus on how female entrepreneurs can be successfully trained.