Third quarter fall in start–ups

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Scottish business start-up numbers slumped in the third quarter of this year, according to figures from lenders.

The Committee of Scottish Bankers said firms opened 3,091 accounts with its members in the three months to September, 12.2 per cent fewer than the same quarter last year.

The fall was most pronounced in the banks’ “real estate, renting and other business” category – the largest sub-group – with just 686 new accounts, down from 1,080 a year before.

The figures are based on Bank of Scotland, Clydesdale, Lloyds TSB and Royal Bank of Scotland branches. However, the figures may be failing to capture a shift in the market as newer entrants such as Santander and HSBC seek to capture more clients.