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The latest quarterly survey of 1,000 start-up firms by accountant
Ernst & Young has found increasing confidence in the outlook
for the economy.
The number of firms fearing a downturn fell from 34pc of respondents
in the previous quarter to 30pc in the latest three months of
this year. Those predicting an improvement edged up to 33pc.
Construction firms were the most negative, with 39pc believing
the business outlook would worsen compared with only 25pc seeing
an improvement.
Steve Smith, partner at Ernst & Young, said small firms
were showing a "cautious optimism" regarding the future.
"Our own forecast predicts a return to the kind of economic
growth in the UK last seen in the late 1990s over the next two
years, despite the likelihood of further interest rate rises
and a possible slowdown in the housing market."
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