Some 98 out of the top 250 firms took part in the research - and 15 per cent declared themselves to be very confident. The confidence levels are up 14 per cent on last year. Firms may feel they are leaner now - as 24 per cent say they have de-equitised partners in the last 12 months.  Meanwhile 18 per cent expect to merge with another business  this year with a further ten per cent seeking a merger partner. Those which have been involved in merger discussions say such talks last around six months. Source: Smith & Williamson