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Business start-ups and other small businesses in the UK are increasingly optimistic about the future despite greater economic challenges, a recent survey indicates.
The research was conducted by the Small Business Research Trust (SBRT) and HSBC Bank.
The survey revealed that the first quarter of 2007 saw increased levels of investment in every sector, despite a slowdown in sales growth during the same period.
Levels of recruitment within small businesses also rose. This was in part due to small businesses including business start-ups expecting significantly higher growth rates in the second quarter of the year.
Some 45 per cent of small businesses questioned expect sales to grow during this period.
Simon Wainwright, head of business banking at HSBC, said: "It is somewhat surprising that small businesses in the UK are growing in confidence, considering the increasing challenges they face from the uncertain economic climate.
"That they are continuing to invest and recruit more to grow their businesses shows great resilience and determination in the UK small business sector."
However, Mr Wainwright also urged small business owners to "budget carefully and plan diligently".
This, he emphasised, will ensure businesses are protected against unexpected occurrences such as "the loss of a key staff member or a downturn in the economy".
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