Entrepreneurs favour banks over PE for funding

Despite difficult lending conditions, some 57% of those surveyed said they expected to seek a bank loan or overdraft to fund their business.

Investec's Entrepreneur Confidence Index found that just 6% of UK entrepreneurs expected external financing to be easy to obtain, indicating the tough conditions in the market. More than two thirds expect it to be difficult to obtain finance, while 22% say it will be very hard to access additional capital.

Venture capital and private equity sources of financing were the fourth most popular financing option, behind using retained earnings, bank loans and asset-based lending. Some 6% expect to access funds by selling part of their business operations.

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• UK / Ireland
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• Investec