Office Depot, a leading global provider of office products and services, announced the results of the latest Office Depot Small Business Index – a monthly survey commissioned to gauge the economic trends of small businesses in America.

According to the latest Office Depot Small Business Index, which surveyed more than 1,000 small business customers, 56% of small businesses are expecting increased profits within the next six months, while 59% expect an increase in their total business sales. However, 81 percent of respondents stated that they had no plans to hire within the next six months, citing reasons such as higher healthcare costs (18%), fear of higher taxes in 2011 (15%), lack of available credit (14%), and continued economic uncertainty (14%).

“Small business owners are being extremely cautious due to the uncertainty of what might happen in the future,” said Steve Odland, Chairman and CEO of Office Depot. “While we are seeing that small businesses are somewhat optimistic about their sales prospects, they are still not feeling comfortable enough to begin spending and hiring at previous levels.”

To add to the economic uncertainty among small business, 63% of respondents expect to see an increase in their interest rates in the next six months, while 78% of respondents stated that they foresee it becoming even more difficult to obtain a bank loan in the near future.