Britain's retail businesses are gearing up for a positive 2014, as reflected by at least four months of strong optimism about the economy, according to recent findings.
The latest Vistage Retail Business Confidence Index is based on responses by 39 ceos, mds and owners of SME retail businesses conducted at the end of last year. The Index revealed that retailers continue to be strongly optimistic about the forthcoming year (67% expect the economy to improve, while 33% believe it will stay the same). They also felt that 2013 was on the whole a much better year for the UK economy, with 75% reporting improved economic conditions compared with a year before.

The research, conducted by Vistage, the world's leading organisation for ceos and owners of Britain's mid-market businesses, also showed that about 66% of retail businesses aim to expand their workforce in 2014. 35% of those polled intend to recruit steadily throughout 2014, while the number of retail businesses planning to recruit in Q1 of 2014 grew to 13%.

The expansion of the workforce at most retail businesses is being driven by strong expectations that the better economic times will translate into sales - with 82% expecting an increase in sales revenue over 2014 and 15% expecting sales to remain about the same.

Steve Gilroy, ceo of Vistage, said: "These figures show the steadily growing confidence among Britain's retail businesses. It is reflected by the conversations with dozens of ceos and business owners which I had around the country in recent weeks. Business owners are reporting that they are investing again and their order books look much better than 12 months ago.

"Vistage's latest research shows them to be very confident about the recovery and their prospects, leading them to invest strongly in capital assets and creating jobs. It is a very dramatic turn-around since the beginning of 2013, and they are very much looking to 2014 being a good year."

The Vistage Index was based on nearly 500 responses from meetings with its members across the UK.