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Posted on 03 May, 2011

Two-thirds of SMEs optimistic about 2011

The UK’s small business sector is set to enter 2011 in a buoyant and confident mood.

A survey of 1,120 small businesses conducted by HR service PeoplePerHour.com finds nearly two thirds (64 per cent) are optimistic about the UK’s economic future.

Of the minority of businesses concerned about the state of the economy, biggest worries are the over-reliance on the financial services sector (28.7 per cent) and increased competition from emerging markets (22.5 per cent).

Other concerns are the impact higher taxes could have on a ‘brain drain’ from the UK (22 per cent) and how the rate of VAT will impact on trade.

Despite the gloomy economic forecasts it looks as though small businesses are sailing into the New Year with a healthy degree of optimism.’

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