Small businesses have shown they can be resilient despite touch economic conditions, with seven out of ten launching new services or products over the last 24 months.
This is the main finding of the Voice of Small Business Member Survey, conducted by the Federation of Small Businesses (FSB).
In the poll of 11,000, 68 per cent have introduced new or improved products or services over the last two years beating the UK's economic downturn.
This is also 15 per cent higher than in 2009, suggesting small firms are regaining their confidence.
The survey also found that 58 per cent of small firms intend to expand over the next 12 months, with 43 per cent stating they want to achieve rapid growth while 11 per cent are being more cautious.
Around 74 per cent intend to increase their customer base, 57 per cent expect to boost their online presence and 26 per cent plan to hire more staff.
Companies planning to expand can take out business insurance to cover any events that may affect their revenue or growth.
All of these factors could affect a company's growth so business insurance will help them stay on top of things if such events were to happen.
John Walker, national chairman of the FSB, said: "These figures show that the small business community has remained resilient even in the ongoing tough economic climate.
"The smallest businesses have remained focused on growth and shown tenacity in bringing new products and services to market."
However, he urges the government to commit to deploying superfast broadband across the country, to simplify the tax system and to promote alternative sources of income to help small businesses grow even more.
The recent Recruitment and Employment Confederation's (REC) 'JobsOutlook' report supported this outlook as 63 per cent of employers are planning to hire more staff this year, while 31 per cent intend to retain current staff levels, proving that firms have not lost confidence.
