The survey by CEO organisation Vistage found that 73 per cent of its members, predominantly mid-sized firms, expect the economy to improve this year and 72 per cent plan on taking on more staff.

Plans to increase staffing are based on strong sales expectations – 80 per cent said they expect sales to grow and just 3 per cent expect them to fall.

Steve Gilroy, CEO of Vistage, said: “Germany’s medium-sized businesses are rightly feted as the reason for its economic success. By contrast, Britain’s mittelstand companies are the UK economy’s unsung heroes, despite their huge importance to a sustained recovery and sustained job-creation.

“Many have emerged from the economic malaise of recent years in good health and cash-rich. Our research shows they are expecting a good 2014 and most have active plans to expand their workforces to take advantage of this – in fact many are doing this already.”

Those polled also thought that 2013 was a good year for the economy, with 76 per cent reporting improved economic conditions compared to a year ago.

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