By DPA
Singapore : Small businesses in the Asia-Pacific region are bullish about prospects this year with those in India the most optimistic, a survey said Saturday.
The results of the survey by financial group HSBC found 79 percent of those queried in India are confident economic growth in the country would accelerate, followed by 73 percent in Singapore.
The survey covered 1,800 small businesses in nine countries and territories.
Firms were asked about their hiring and investment plans and view of trading prospects with China, Asia and the rest of the world.
Small businesses in China emerged third most bullish.
Less than 10 percent of all the businesses polled said they would reduce staff. More than 20 percent planned to hire more people this year.
The findings are particularly interesting "because the small businesses are the ones who have huge constraints in capital and resources," The Business Times quoted Tan Siew Meng, head of commercial banking at HSBC Singapore, as saying.
The willingness to make investments and hire more staff indicates confidence in the economy, Tan added.