UK managers believe 2008 will be a tougher year for business, according to a survey by the Chartered Management Institute.

Of over 500 managers surveyed, 42% claim they are "optimistic" about 2008, compared to 53% last year. Those who are "uncertain" about what next year will bring has doubled to 20%.

More than half (56%) say the rising cost of energy will have a negative impact on their business, while 39% blame the credit squeeze in financial markets. Four in ten report they will be hit by the extension of maternity and paternity leave in 2008.

Respondents predict that a drop in consumer spending will hit business.

Added to this, the majority (63%) predict a rise in inflation in 2008. Almost half of UK employers in the survey say that a shortage of management skills in the UK will have a negative impact on their performance in the new year.

Jo Causon, director of marketing and corporate affairs for the Chartered Management Institute, says: "In the current climate, it is natural for employers to feel some degree of uncertainty."

However, the survey shows that managers remain highly motivated to be successful. Three in ten (30%) are aiming to make more money.

One in 5 plans to seek promotion with their current employer and 1 in 10 say they plan to learn a new language in 2008 and 38% say they want to spend more time with family and friends.