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10/11/2009
Business start-up pledge made |
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More entrepreneurs may plan to start up a business following a pledge by a major bank to provide more support for those looking to set up their own enterprise.
Lloyds Banking Group announced the introduction of its 2012 Banking Charter yesterday, with a promise that it would back 300,000 new firms between now and that year.
Such a measure may prompt those keen to go self-employed to contact business lawyers to deal with the legal aspects of setting up a firm.
The Lloyds Group said it will provide various forms of finance and advice for new starters.
Managing director of its commercial department John Maltby commented: "Just as businesses needed support during the depths of the downturn, it is critical that we give them the right guidance and help them grow as the momentum of recovery starts to build."
The news comes after a study by Kingston University found that 48 per cent of small and medium enterprises have managed to increase profitability during the recession.
Written by Anthony Dyson
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