Predictions for the start of 2010 are optimistic. Photo by John Evans.

TALLINN — Entrepreneurs think the first three months of 2010 will show signs of recovery for business in Estonia, a survey has shown.

The Estonian Institute of Economic Research announced the prediction after recent survey results showed optimism following the country’s worst ever year financially.

“Entrepreneurs themselves estimate that their situation will improve in the next three months,” the institutes head researcher Leev Kuum said in the local business daily Äripäev.ee. “This is not a random estimation or my own personal belief — this is indicated by our surveys.”

The surveys are compiled on a monthly basis using the opinions of local business people.

He said exporting companies would need to find new markets and secure their existing ones with domestic demand level expected to remain at the same level as 2009 for the year.

Putting his best foot forward, the researcher said that 2010 shouldn’t be seen as “Crisis 2.0,” but as the year of recovery.

“As the year 2009 was the first crisis year, the year 2010 could also be called the second crisis year, but it would be better to state that it will be the year of economic invigoration,” Kuum said.

“In the past two years, we lost 20 percent of our potential and now this will recover by 3 to 4 percent at a time.”

Along with the other Baltic states, Estonia has experienced a terrible year of cost cutting, defaults and unemployment caused by the global economic crisis.

The country is hoping that it will be helped out of the mire by its expected adoption of the euro currency which would offer the country stability, a key concern of investors.