UK SMEs are set to create 470,000 new jobs in the next year, according to research from GE Capital.

The research shows 38% plan to increase the number of full-time employees in the next 12 months, compared to 7% who were planning to reduce in number. 

Among medium sized businesses 50% plan to hire in the coming year. 

Although those firms with up to nine employees were less positive, with only 22% aiming to increase headcount.

Overall, almost half (46%) of businesses surveyed in the UK were optimistic about the growth prospects of the sector in which they operate.