Mid-sized companies in Asia are highly confident in their ability to grow, and alongside domestic expansion are increasingly looking to international markets to build further momentum, according to a study conducted by Standard Chartered.

Standard Chartered global head of commercial clients Andy Bainbridge said in a statement, “Mid-sized companies are crucial engines of economic growth and job creation across Asia, and increasingly active in global trade.

“They are the Tatas and Alibabas of tomorrow, and this study shows that slowing growth in the region has not dented their confidence in the future. Far from it, these dynamic companies are looking to take on more workers and expand into new markets, growing their turnover in the next five years.”

The survey of 300 chief executive officers and chief financial officers of companies with an annual turnover of between US$30 million and US$100 million (RM108.7 million and RM362.3 million) across four of Standard Chartered’s Asian markets – China, India, Indonesia and Malaysia – points to considerable optimism, despite slowing economies across the region.

According to Standard Chartered, 90% of the CEOs and CFOs are confident in the potential to grow their business in the next five years, with an average anticipated rise in turnover of 39%.

“Confidence comes from increasing demand for products and services. Nuch of this driven by a growing middle class,” Standard Chartered said in a statement.

While overwhelmingly high, levels of optimism vary. Indian business leaders are the most optimistic, with 97% confident their company will grow in the next five years, while Malaysian respondents have slightly more mixed views, with 78% confident in their growth prospects.