Small businesses are ready to rumble in 2016

eBay, in partnership with YouGov, recently carried out a new study of online business sentiment, finding that small businesses in the UK are set to seek growth in 2016 by employing, exporting and expanding their product offering.

Business optimism appears to be at a high point, with 49 per cent of small online businesses in the study being bullish about their prospects for the New Year and only 22 per cent pessimistic about the UK economy.

Thousands of new jobs could become available in the UK with over one in ten (13 per cent) of respondents expecting to employ more staff during the year. Furthermore, 13 per cent of small online businesses believe that they will expand the number of global markets they reach over the next 12 months and 40 per cent feel confident enough to expand their product offering in 2016.

Kit Glover, Director of Professional Selling at eBay UK said: "The business community should be very encouraged by the findings of our Small Business Optimism Index. Despite a tough retail environment, the fact that digital small businesses are looking to expand their product offerings, export to more foreign markets and thus employ more people here in the UK can only be a good thing."

According to statistics from FSB, small businesses accounted for 99.3 per cent of all private sector businesses at the start of 2015, with SMEs accounting for 99.9 per cent.

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