The cost of doing business, typified by high business rates and utilities costs, have replaced access to finance as the key concerns for small businesses for the first time since the recession.

In a survey by the Forum of Private Business (FPB) less than a quarter (24 per cent) of SMEs quoted access to finance as a problem, down from 36 per cent 12 months ago.

Entrepreneurs have switched attention to general running costs, with 46 per cent citing business rates as a problem and four in 10 saying the same about utilities, such as water, gas and electricity.

But, in keeping with a raft of recent positive data about the economy, the survey findings were positive on the whole.

An overwhelming majority – 85 per cent of respondents – said they plan to grow the business in the next 12 months. Three in 10 will take on new staff and 15 per cent expect to extend working hours.

Six in 10 plan to target new customers, 42 per cent plan to improve customer service and 41 per cent will invest in new products, the survey showed.

"GDP figures are positive, employment is up and confidence among FPB members has lifted accordingly,” said Alexander Jackman, Head of Policy at the FPB.

“With 1 in 3 looking to employ and 1 in 10 looking to increase hours, small businesses are showing a positive, though restrained, outlook for 2014."