Small Saudi businesses among world’s most confident: HSBC

11:58, 3 February 2010

JEDDAH. February 3. KAZINFORM The Kingdom's small businesses are among the most confident in the world, according to a new survey by HSBC, the global banking associate of SABB; Kazinform refers to the Arab News.

"Global Small Business Confidence Monitor," a study by HSBC of more than 6,000 enterprises in 20 key markets, showed that Saudi Arabia's small-scale business sector was especially optimistic about growth prospects for the Saudi economy, increasing capital expenditure in their own operations, enlarging their workforce and expanding their international business.

The survey confirms the results of another HSBC study published last month of business confidence among leaders of larger companies in the region. Saudi Arabia came top in that poll.

Of the 300 Saudi companies participating in the new survey, 86 percent see the Kingdom's economy growing at or above the current rate, with more than half predicting a growth of at least 4 percent over the next 12 months. Only 14 percent believed the economy could slow down; Kazinform cites the Arab News.

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