The majority of UK start-ups are clubbing together to share core business functions with other companies, according to a study.

Some 55 per cent of early-stage companies identify sharing resources with other businesses as ‘essential’ to business survival, finds a survey by Zipcar in partnership with StartUp Britain and Ashridge Business School.

The research surveyed more than 1,000 UK start-ups to discover how they are taking on traditional businesses by building smarter, more agile business models.

Ownership of business assets and permanent employment of human resources is now a thing of the past for many businesses, according to the study.