UK firms are confident that 2008 will be a year of growth, according to research conducted by online reseller WStore.

The research, which polled 4,700 UK organisations ranging from SMEs to large corporates and public sector bodies, revealed that 65.8 per cent of respondents expected turnover to increase in 2008, despite the predicted credit crunch.

Just six per cent revealed they expected a decline, with 18 per cent claiming business would stay the same and 10 per cent did not know one way or the other.
The survey also found that spending in IT would remain buoyant, with 44.7 per cent questioned revealing their expenditure would continue to increase in 2008. A total of 36.5 per cent felt expenditure would stay the same, and 10.2 per cent said it would decrease.

Stewart Hayward, commercial director at WStore, said: "The findings of our survey are completely unbiased and as such give what we feel is a true reflection of UK business' outlook.

“To see that almost three quarters expect their businesses to do well at a time when many economic commentators are wringing their hands is very encouraging. Naturally, from our point of view, finding that so many also expect to spend more on IT this year is also very positive news."