Market players lead to business opportunities

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An increasing number of market players means that individuals looking to start up a business should be able to find funding, it has been claimed.

Stuart Wilson, senior manager of lending at Lloyds TSB, says that a huge number of financial options are now available to budding entrepreneurs - meaning that its "unlikely" that someone starting a new venture should fail to secure financial backing.

"There's an awful lot more competitors in the marketplace who cater for all types of potential customers who want to start up in business," he commented, before adding that it's in the interests of the customer to make sure they're not overstretching themselves.

"Clearly we would look at the eligibility and the affordability," he added.

"So if a customer comes to us, we want to help them understand this is what the financial requirements would be to offer a loan.

"I don't think there's necessarily customers who are not able to start up because of a lack of funding, it's just looking around the marketplace and seeing who is looking to lend to them," he concluded.

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