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Entrepreneurs look to brighter future

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While some analysts are predicting more tough times ahead for the economy, many entrepreneurs are actually optimistic about the future, according to a new study.

The Investec Entrepreneur Confidence Index, which surveyed over 150 business owners, found that 96 per cent of those polled anticipate a rise in revenues during the next 12 months.

One in four said that they believe that increase will top 20 per cent.

Two in five (41 per cent) reported plans for introducing new products or services in the coming year. Over two thirds (68 per cent) intended to add to their workforces; just 6 per cent were anticipating job losses.

The broader outlook among the entrepreneurs questioned seemed rosier too. Almost half (46 per cent) predicted an improvement in the overall economy, while only 22 per cent took the view that general business conditions would deteriorate.

Optimism was not universal, though. A third of respondents thought that public spending cuts would be a barrier to growth, and 10 per cent listed the recent hike in VAT as a problem.