Scotland's small to medium-sized enterprises (SMEs) are increasingly optimistic, new data reveals.

According to the results of a study by KPMG, the confidence of Scottish SMEs has risen to its highest level since 2004.

Indeed, of those businesses with a turnover of between £5 million and £500 million, 58 per cent confirmed their belief that Scotland's economic outlook is now recovering.

"It appears that those who felt the pinch over the past year or two have now steadied the ship and are looking forward to the next 12 months with renewed optimism," said Craig Anderson, head of KPMG in Scotland.

The survey also found that in addition to confidence increasing by 14 per cent compared with last year, in excess of 75 per cent of respondents expressed an expectation of a positive future for their own firm.

KPMG was established in 1987, and has headquarters based in the Netherlands.