Small to medium-sized enterprises (SMEs) continue to be confident about their prospects and are not concerned with a possible downturn in the economy, it has been claimed.
David Frost, director general of the British Chambers of Commerce, told BBC Radio 4's The World Tonight programme that there is "real confidence" among the businesses he has spoken to.
"Some expect perhaps a slight slowdown, but nothing dramatic. I am impressed by how resilient business is," he commented.
However, while many remain unaffected by the credit crunch, some are concerned that the UK will be "talking" its way into a recession, Mr Frost added.
Earlier this week, Peter Hemington, partner at financial firm BDO Stoy Hayward, said that businesses in the UK continue to be "defiantly positive" in the face of the credit squeeze and "weakening" demand from consumers.
The Bank of England's monetary policy committee is likely to keep interest rates on hold in December due to current conditions, he predicted.
