Figures from the Bank of Scotland, Clydesdale Bank, Lloyds TSB Scotland and the Royal Bank of Scotland have shown a 38% drop in the number of new business accounts opened in the third quarter of the year compared to the previous three months.

However, the figures for the year to date show an overall increase in business bank account openings of 11% compared to 2006.

The Kelvin area of Glasgow had the biggest number of start ups in Scotland - 270 - followed by Edinburgh North and Leith, with 206, The Scotsman reported.