Small business owners in Birmingham see opportunities despite the tough trading environment with more than 3,100 new ventures started in the area, compared to 2,600 at the same time last year.

According to figures from Barclays Local Business, the third quarter of 2008 saw a 15 per cent increase in new businesses in the West Midlands

The South West, Wales and East regions saw similar increases in new ventures but out in front were Yorkshire with a 46 per cent increase and London with 33 per cent more start-ups compared to last year’s third quarter.

John Addison from Barclays Local Business said: “Today’s numbers reflect the confidence and faith entrepreneurs have in themselves and their business, even during this time of economic uncertainty.”