Taylor Vinters - Solicitors

UK entrepreneurs should aim to balance their positive outlook with realism in the coming months, an expert has noted.

According to Phil McCabe, a Forum of Private Business (FPB) spokesperson, there is still some way to go before the economy recovers fully.

He commented: "We are technically out of recession, but the worst certainly isn''t over and the message to businesses is that confidence is great but make sure that you keep the belts tightened."

Meanwhile, Mr McCabe also believes that the threat of a double dip recession cannot be discounted at this stage.

He further suggested that while entrepreneurs should take advantage of good opportunities, it is also important for them to maintain a realistic outlook.

Research published by Mr McCabe''s organisation towards the end of last month revealed that a number of the country''s small and medium-sized enterprises have concerns about the complications that may exist within the UK tax system.