Small businesses confidence is on the way up, despite cost pressures making it tough

MYOB's annual survey shows more than a third of business owners believe the economy will see improvement within the next 12 months.

MYOB New Zealand Corporate Affairs Manager Anna Louise Hoffman, says owners are postive.

But she says some factors could hamper confidence in the months to come.

She says with consumer spending also under pressure, which is one of business owners' biggest concerns, it's a tough time for them at the moment.