THE steady rise of businesses starting up and the theory many of them are being launched by our bright young things can only be encouraging for the local economy.

New figures we report today show a record total of 591 companies started in Oxfordshire in the first half of this year, up 10 per cent on last year.There was a near 11 per cent fall in the number of firms that have folded in the same period.

These figures have to be set against – as if any of us need reminding – gloomy economic times and outlook.

Many of us have looked at the financial landscape and considered it far safer to hunker down in the safety of a 40-hour-a-week job to ride out the storm.

Yet there are hundreds of entrepreneurs out there who are prepared to take a risk and seize their opportunity and you have to admire that spirit.

Not all of them will succeed. But, as long as they have operated responsibly and not adversely affected trading partners, even a failed business can teach valuable lessons that pay off further down the track.

It is the can-do attitude of these entrepreneurs that will water the seed of a recovery and provides greater employment opportunities for us all.