Irish SMEs 'still confident' despite economic slowdown

Irish small and medium-sized companies remain confident about the future despite deteriorating economic conditions, according to Ulster Bank.

The bank says three-quarters of companies on both sides of the border believe they will perform as well as or better this year than they did in 2007.

Only one-third believe market conditions are worse than they were 12 months ago.

Ulster Bank says 70% of firms plan to expand their operations this year, but plans to invest in staff, new premises and new markets have been scaled back.