The majority of small business owners are confident that their companies will fare well over the year ahead, according to a new survey.The Royal Bank of Scotland’s ‘quarterly small business economic survey’ revealed that around four-fifths of SME entrepreneurs felt that their company would grow during 2007 – and over half thought that economic factors would improve or stay the same over the coming 12 months.Only 13 per cent said that their business was in a worse state than at the same point a year ago. Three months ago, 17 per cent agreed with the above statement."The UK’s 1.4 million small businesses are the backbone of the economy," Kevin Gillett, head of business banking at Bank of Scotland, commented. "This report paints a very encouraging picture for 2007 with rising economic and business confidence levels. "There are very clearly still some concerns over the impact of ever-increasing legislation, with more and more small business owner-managers indicating that it is harder than ever to keep trading. However their faith in their own entrepreneurial abilities wins out."© Adfero Ltd