There are over 50,000 species of timber in the world, but only a small fraction is widely used commercially. This, however, does not mean that the rest of the species are unsuitable for a variety of commercial uses. There under-utilised species are known as Lesser-Known and Lesser-Used Timber Species (LKTS) and can often substitute more popular species in terms of performance and aesthetics, and cost-effectiveness. This makes choosing LKTS a good business decision, which also has the potential to improve livelihoods and protect biodiversity.