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Business owners optimistic for 2006

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5th Jan 2006
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Small business owners are optimistic about their prospects in 2006, according to the Forum of Private Business (FPB).

Even though many entrepreneurs are predicting tough trading conditions in the year ahead, nearly 90% expect to do better than they did in 2005.

The figures are revealed in the Bank of Scotland's (BoS) Business Banking quarterly survey and represent a 6%improvement on the quarter from July to September 2005.

In addition, around 38%of businesses expect to invest more this year ' a jump of 9% ' with a quarter planning to increase spending by more than 10%. Nearly a third say they plan to increase headcount, compared to 23% in the last survey, while only 5% expect to make cuts.

Kevin Gillett, head of BoS Business Banking, said: "Almost without exception, the UK's entrepreneurs believe their businesses will fair better over the next 12 months and their confidence in the economy is clearly running high.

"Coupled with almost unprecedented increases in capital investment and strong recruitment intentions, small businesses are clearly gearing up for a strong performance in 2006."

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