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Most small businesses in the Boston area expect to finish the year on a high note.

That’s according to a recent survey conducted by Bank of America that shows most Boston-area small business owners anticipate year-over-year revenue growth and plans to hire and expand in the year ahead.

Seventy percent of Boston business owners believe their revenue will increase, tying a four-year high in the city, while 38 percent expect to hire, a rate that is 11 percentage points higher than the national average, according to the survey.

“Boston business owners are experiencing a sustained pattern of revenue growth and are looking to take advantage of a strong economy,” Kevin Kelly, a Northeast small business division executive at Bank of America, said in a statement. “We’re seeing multi-year highs in hiring and loan application plans, but rapid business growth in Boston is being tempered by a highly competitive talent market.”

The report, which is based on a semiannual survey of 1,000 small business owners across the country and the greater Boston area, also found that 58 percent of respondents were confident the Boston economy will improve. Another 17 percent intend to apply for a loan, the highest level in more than two years.

Despite the good news, the survey agreed with Kelly’s conclusion that Boston entrepreneurs are struggling to land and retain qualified employees in the highly competitive local job market.

Turnover affected 26 percent of Boston entrepreneurs in the last year. Among business owners who sought to hire new employees, 48 percent say they had difficulty finding qualified candidates, in large part due to the tightening job market.

To adjust to these challenges, entrepreneurs have modified their hiring strategies to find and recruit top talent by shifting to a more flexible work culture, using social media more actively and offering higher salaries, according to the survey.