More investors are considering start-ups for their potentially strong returns – and a  tempting 30 per cent tax break – but the sector says it still needs almost £7billion to reach its potential.

The Enterprise Investment Scheme is a government-led scheme that helps younger, businesses raise finance by offering investors generous tax reliefs, including income tax and capital gains relief and some protection against losses, in return for such high-risk investing.

Alex Davies, chief executive of Wealth Club, a tax-efficient investing platform said demand from investors has been surprisingly strong over the past year, with people choosing to back firms using technology to drive their business.

Among the popular firms on Wealth Club has been Pavegen, a company that generates clean energy and data from footsteps.

Despite interest from investors remaining robust, according to the Enterprise Investment Scheme Association, more than £6.5billion of private sector equity investment is desperately needed.

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