According to the Aldermore SME Future Attitudes report, of those confident in their outlook for next year, 39% expect to see a growth in revenue in 2017.

Of those expecting growth, 39% aim to do so by launching new products and services, 30% intend to enter new markets, while 20% are planning to expand by enhancing their technology.

With regards to the Brexit vote, over half (66%) believe that Brexit will either have a positive impact or no impact at all on their company.

Of those exporting directly to the EU, 56% stated that they expect no impact or a positive impact on their business as a result of Brexit.

Of the SMEs who expect a negative impact from Brexit, 64% were worried about economic uncertainty, while 43% were concerned about UK tax rises.

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Carl D’Ammassa, Aldermore’s group managing director, Business Finance, said: “Despite the mixed economic news following the UK’s decision to leave the EU, it is encouraging to see that SMEs remain very much focused on growth over the coming year.

“Companies are clearly still thinking about new ways to drive their growth and as our research shows, entering new markets as well as launching new products and services are high on SMEs’ agendas.

“This would indicate a continuing confidence in the UK economy over the next 12 months.

“Such business expansion is often underpinned by external funding or investment, and it is therefore crucial that companies can access the capital they need to realise their growth ambitions.

“Some SMEs will tap into their operating surpluses or personal savings, but we are hoping to do more to educate businesses about other more bespoke, flexible and often cheaper options available, such as asset finance and invoice finance.”