HP said that British small businesses returned to double digit growth over the last six months based on an independent survey of companies with less than 1,000 employees.
The company uses the survey to create an SMB Index and the third such report "paints a slightly more optimistic picture for the UK economy," HP said in a release. 63 per cent of respondents said that their business will grow in the next six months, by an average of 14 per cent.
"Considering the rather gloomy picture the Index painted last July, these findings are to be broadly welcomed, especially the news for sole traders," said HP PSG marketing chief Rebecca Shears.
HP also revealed that half of the respondents have turned to social networking platforms to promote their business. Most of those that did had generated new business or revenue from social networking.
"Technology is a key driver for business growth, and the arrival of ecommerce trading sites and social networks aimed at businesses offer enhanced sales and marketing opportunities," Shears said.