If Kubota kept same wiring philosophy, the 'main' switches 'on/run' pole is the one with a red/wht wire on it. Hopefully you do have the wiring diagram.
Attach a 12 volt light to it(better than DMM ) . turn key on ,light lights, turn key to start, light should still be on, release from start, light should still be on.
If this test works then it is NOT the main switch. For me to help further NEED the wiring diagram.
Since it will start ,in the 'start' position ,unlikely a fuel problem, perhaps the 'run or stop' engine solenoid ? different models have one or the other. Whichever it is, I'd disable it then test start,see if it runs inthe 'on' position as you can manually shut engine down by 'moving' the 'run/stop' solenoid.