Small businesses in the South West are bursting with great ideas but are failing to put them into practice, claims a new study by Business Link Berkshire and Wiltshire.

Business owners and managers who claim to come up with at least 'seven good ideas a month', blame lack of time and money as the main reasons for failing to follow them through.

Daphne Milner, head of Business Link Berkshire and Wiltshire, the Department of Trade and Industry's (DTI) business support service, explained: "Businesses say they often can't take ideas beyond the brainwave stage, so they never get the opportunity to find out which are turkeys and which may fly and turn them into the next Richard Branson.

"They say it's because they lack time and money to develop ideas further, or don't always have enough knowledge or experience to quickly recognise what's worth pursuing, and what just won't work.

"This typically means businesses each ditch up to 50 potentially winning and profitable ideas every year."

When and where business owners dream up their ideas varies considerably, but according to the survey, nearly one in five claims to enjoy an 'Eureka' moment at least once a day.

However, few rate brainstorming sessions or discussions with colleagues as the best source for these ideas the most highly rated venues appear either to be in bed (30 per cent) or in the bathroom (22 per cent).

So in order to he lp local businesses put their good ideas into practice, Business Link has devised the following tips

Write your ideas down. They can quickly be forgotten.

Build on your ideas. Don't dismiss an idea just because it looks too radical or too difficult to do.

Share and get input from colleagues and friends.

Evaluate what impact could the idea have on the performance of your business? And do you have access to the skills and capabilities to pull it off?

Plan to make it happen - make sure you have a realistic and sound plan with clear milestones to monitor its progress.

Seek third party help - ask a colleague for input, or consult a business adviser.

And lastly, even if an idea isn't right for your business now, remember, it might work in the future.

Alternatively, business owners in need of further inspiration might wish to contact Business Link Berkshire and Wiltshire on 0845 600 41 41.