Nearly half of owner-managers say they are very pessimistic about the coming 12 months, with only one-third believing that a new government will improve the economic outlook, according to a poll by XLN Telecom.

Some 87 per cent and 90 per cent believe the banks and government respectively have not done enough to support SMEs during the crisis.

However, 16 per cent of businesses say they will hire again in the next 12 months, compared to 10 per cent who are contemplating further redundancies.

Christian Nellemann, CEO of XLN Telecom, says: ‘Our survey shows that while in employment terms SMEs are starting to turn the corner, they feel angry at the lack of meaningful support shown to them over the last 18 months by the government.’

Of the 650 surveyed, 27 per cent expect their companies to grow over the next 12 months. Some 26 per cent think their sales will decline, while nearly half expect them to plateau.