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Graduates look for jobs in large London-based companies rather than lesser-known small businesses, says the Graduate Recruitment Bureau.

Students are often attracted by graduate recruitment schemes conducted by bigger blue-chip companies, most of which are in London. Small businesses, however, are more inclined to recruit on a more impromptu basis as the GRB's co-founder Dan Hawes explained.

"Small businesses like to be able to invest in their future by training graduates who can be managers further down the line, but in terms of cost, it's high and the resources and the commitment are very high also," he said.

Mr Hawes explained that small businesses hire graduates for more "specific projects" or find employees who will be confident in a position without the need for formal training.

The Association of Graduate Recruiters' 2007 survey has forecast a 12.7 per cent rise in vacancies for graduate positions, which would represent the fourth annual rise in a row.

Most of the vacancies are for accountancy or professional jobs (23 per cent), with banking and financial positions representing 12.2 per cent of vacancies.