Digital agencies are positive about the next year despite the credit crunch, according to new research.

The research, from internet marketing consultant E-consultancy, found that 28% of firms expected increased turnover in the next year, while 80% think turnover would exceed that of 2007.

The research also found that agency charge-out rates have gone up by an average of 17% in the last two years (since 2006) and 90% of agencies surveyed said that they were “quite” or “very” optimistic about the future of their businesses over the next year.

Linus Gregoriadis, head of research at E-consultancy, said: “Digital agencies are generally very upbeat about the short-to medium-term future despite the continued gloom within the wider economic environment. However, running digital agencies profitably is undoubtedly becoming more challenging. Coupled with increased competition in the marketplace, the trend towards paying higher salaries means that margins are inevitably being squeezed.”