Shortage of funds has become a major problem for young people to start up their businesses, according to an industrial report on Monday.

The report, which was released on the sideline with a technology and innovation forum in Shenzhen on Monday, showed that up to 60 percent of young people, who plan to start business, had no any concrete actions due to shortage of funds.

The report was based on a survey which covered more than 10,000 young people on Wechat, an instant online message platform.

Fu Demei, vice-president of Baoneng Group, a Shenzhen-based company engaged in property, logistics, culture and finance industries, said young people are more keen on start business in the booming Internet industry.

"A growing number of young people have planned to copy stories of successful business leaders including Tencent Holdings chief executive officer Ma Huateng and Alibaba Group's Ma Yun," Fu said.

According to the report, more than 50 percent of people said the Internet industry will provide huge business opportunities.

qiuquanlin@chinadaily.com.cn