Up to 40,000 new jobs could be created in Scotland’s small and medium sized business sector in 2014.
The prediction came following new research by Clydesdale Bank in which more than 800 UK SMEs were surveyed about their prospects for the year ahead.
The study found that 43% of Scottish SMEs planned to add to their workforce in 2014, with those in recruitment mode expecting to increase staffing by an average of 9% over the 12 month period.
The Clydesdale research found that on average the UK’s 4.9m SMEs expected to recruit 2.9% more staff in 2014, a figures that translates to around 417,000 new jobs across Britain as a whole.
Small businesses with fewer than 50 employees were the most likely to grow staff numbers with 63% indicating they expected to add to their workforce in the months ahead.
There was greater caution in the medium-sized business sector – firms with between 50 and 249 employees – where just 36% said they expected to recruit in 2014.
The survey also found particular confidence in the accounting and manufacturing industries where a signficant number of new jobs look set to be created.
Scott McKerracher, regional director for business and private banking with Clydesdale Bank East of Scotland, said: “As the UK economic outlook continues to improve, we are starting to see a positive impact on recruitment plans. “Increasing staff numbers can help businesses to boost productivity and competitiveness, and allow expansion into new markets as capacity grows. Creating new jobs is also good for the economy as a whole.
“While our research suggests that many businesses are becoming more confident about investing in their future, it is important that we recognise there remain considerable challenges to growth.
“Access to funding is crucial to achieving growth aspirations. We want UK businesses to know that our door is open to well managed businesses with strong growth plans.
“SMEs are crucial to the UK economy and its emerging recovery and we will continue to support them in 2014.”