Positive outlook for British businesses

New research has shown that the majority of small and medium-sized businesses in the UK have a positive outlook about their prospects and the economy over the next year.

According to networking company Cisco’s Customer Kings 2010 report, 63 per cent of small businesses are optimistic about 2010, with 77 per cent expecting to see an upturn in the economy.

Of the 1,000 businesses surveyed, 59 per cent felt that flexibility was important, with 61 per cent adding that they have introduced new measures to help build customer relationships.

Meanwhile, 92 per cent said that technology was important in improving customer service while 40 per cent said they had seen the tangible benefits of using social media.

David Critchley, head of SME and Commercial for Cisco UK & Ireland, said: "What we see here is that rather than simply adapting to the pressures of the recession, a large number of our small businesses are taking matters into their own hands and making things better for themselves."

The International Data Corporation recently predicted that small businesses would be the main driving force of cloud computing over the next five years as they seek to cut costs and increase their networking flexibility.

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