Most business owners in New Hampshire expect economic growth to remain slow in the coming year, according to a recent survey. 

The N.H. Business and Industry Association recently released its 2012 New Hampshire Business Outlook Survey. The eighth annual survey found that most business owners are “cautious but optimistic” that economic conditions will not get worse next year. Nor will they get much better, though, as most expect employment levels to remain the same.

Conducted by Portsmouth-based RKM Research and Communications in late October, the survey measured confidence among 300 businesses, a third of which have fewer than 10 employees. Of those polled, 73 percent said they expect their overall number of employees to stay the same in 2012. Only 14 percent expect to add more employees, and 5 percent expect to lose employees.

Forty-four percent of business owners expect economic conditions to remain the same in 2012, while 31 percent expect them to get better and 21 percent expect them to get worse. Forty-three percent expect their annual revenue to increase, while 32 expect it to stay the same and 19 percent expect it to decrease. Sixty percent of businesses expect their capital expenditures to remain the same in 2012, while 26 percent expect to spend more and 14 percent expect to spend less.

The numbers reflect a slight overall decrease in confidence from last year’s survey, when 47 percent expected economic conditions to get better, 19 percent expected to add more employees, 48 percent expected to increase revenue, and 30 percent expected capital expenditures to increase.

Business and Industry Association president Jim Roche said the survey portrays an uncertain environment for most businesses.

“Although business owners don’t expect the economy to worsen and may see increased revenues in 2012, they don’t anticipate adding jobs or investing in their businesses. Those activities are crucial to spurring economic growth,” Roche said in a press release.