Most of UK privately held businesses (PHBs) predict staff levels will remain the same or increase over the coming year, claims new research from business and financial adviser Grant Thornton.

The survey found that 68% of PHBs thought staffing levels will be maintained or increased and of that 68%, 49% expected staff number will remain unaltered, while 19% thought there would be an increase.

Around a third (31%) thought there would be a cut but 88% of UK PHBs expect to increase salaries in line with inflation in the forthcoming year or keep pay at the same level as last year.

Clive Fathers, head of employer solutions at Grant Thornton, says: “Despite the bleak economic landscape, it is welcome news that the majority UK PHBs plan to hold steady and try to avoid making knee-jerk redundancies.”