The study reveals that profit is no longer of paramount importance for entrepreneurs. They are now motivated by creating fun and dynamic teams, cultures and lifestyles.

Richard Branson pipped Alan Sugar as the hero of today's enterpreneurs - role models being favoured for their social consciousness and style.

Entrepreneurism today is almost unrecognisable compared to the early eighties the report found.

The report called "The changing face of UK enterpreneurism" was a joint project between the London School of Economics and Shell Livewire which supports the entrepreneurs of today to create the jobs and wealth of tomorrow.

The report can be viewed at www.shell-livewire.org/25yearsonsurvey