Trade body CompTIA sponsored SME research specialist AMI-Partners to survey 773 US, UK and Canadian firms on their expectations for the coming year. The study found that 85 per cent will take on new staff over the next 12 months, with the average expected intake being eight people. 54 per cent expect to increase their annual revenue by 10 per cent or more while two fifths intend to open offices in new locations.

UK SMEs expect to lead the way in IT and communications spending with 56 per cent planning to increase their technology budget. This is up from 54 per cent last year and the main spending focus will be IT security, including firewalls and encryption tools. UK businesses were also found to have the most brand loyalty with 58 per cent only buying products from big name manufacturers.

The amount of Canadian SMEs planning to increase their IT and communications budget has fallen from 53 to 43 per cent since last year. 52 per cent of US firms are expecting an increased technology spend, down from 64 per cent in 2007.

CompTIA's European vice president Matthew Poyiadgi said: "In previous tough economic times, technology spending would have been one of the first things to be cut from an IT budget. UK companies recognise that today’s situation is different because they rely on technology for an increasing amount of their core business operations. It is encouraging to see that security remains a high priority for UK companies as investment in this area can lead to significant cost savings in the long term.”