Britain's fast-growth entrepreneurs are younger and better educated than owner managers of slow-growth firms.

But their attitude to business is neither reckless nor brash, according to research by Barclays.

Far from being the wideboys with big ideas and little practical knowledge portrayed on TV, these future captains of British industry are building their businesses on a foundation of experience and bringing in experts to help them succeed.

Barclays examined fast growth firms, incorporated companies which enjoyed annual sales or profit growth of at least 25 per cent and set new standards to drive innovation and fresh ideas in the economy.

It examined their characteristics, experiences and the challenges they faced, comparing them to their slower-growing cousins.

Fast-growth entrepreneurs listed their biggest challenges as attracting and retaining staff, keeping up to date with technology and accessing new markets.

In contrast, after attracting and retaining staff, slow-growth firms' biggest headache was collecting payments.

Reducing red tape and cutting the burden of taxes on business came top of the list of things the Government could do to help fast-growth firms.

The report said Brighton and Hove had done well, with 21.1 per cent of businesses demonstrating growth of more than 25 per cent in each of the last four years.

London and the South-

East had the highest proportion of fast-growth businesses.

Twice as many business owners or senior managers in fast-growth businesses were from ethnic minority backgrounds, with those of Asian origin particularly prominent.

Nigel Jeffrey, head of local business for Barclays in Brighton, said: "Fast-growth businesses, regardless of their size, are the vehicle for Britain's elite group of high octane entrepreneurs.

"Like the leading Formula One teams, they combine effort and determination with professionalism and a focus on their goals.

"They believe bringing in the best specialist staff and harnessing technology can give them a competitive edge over their rivals."

To achieve their goals of growth and profit maximisation, 42 per cent of fast-growth entrepreneurs expected to recruit more staff, 32 per cent to diversify their businesses and 24 per cent to invest in machinery in the next year.

Mr Jeffrey said: "These firms are focused, ambitious and ground-breaking, combining big aspirations with the expertise and ability to achieve their goals."