THERE has been a lot of buzz amongst politicians and economists recently about the UK economy finally being on the up.

Many ordinary families, however, have yet to feel the benefit. Instead, for too many the reality is still that times are tough – with wages frozen and welfare spending increasingly squeezed.

New figures on business start-ups for York really do suggest that things are taking a turn for the better, however.

Almost 400 new companies were set up in the York area in the third quarter of last year alone. That is a new record for the city, and a ten per cent increase in the number of new businesses start-ups compared to the same period in 2012.

This is good news on so many levels.

Economic recovery is very much a matter of confidence. It needs investors confident enough to invest; businessmen and entrepreneurs confident enough to borrow, take risks and expand; and consumers confident enough to spend.

These latest figures for business start-ups are a sure sign that confidence in York is high – and that both investors and entrepreneurs see this as a great place to do business.

Perhaps best of all, these new business start-ups will surely begin to translate into new jobs for York people, so that more of us will start to feel the real benefits of recovery.