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Skills for Running your Business

Skills for Running your Business

When growing your business, it is important to have the right skills in place to make your business successful. You may be a great manufacturer but you will need skills to sell your product. You could be a financial wizard but you will need to be a good manager if you employ people. As your business grows, the range and complexity of skills your business needs will grow too.

The benefits of addressing skills needs include:

  • Feeling more confident competing for new contracts
  • Future proofing your business by increasing your skills base
  • Strengthening your reputation for quality and reliability

Training your workforce  

Effectively training your employees can greatly improve your chances of success and business growth. Training your employees is an investment and will cost but research has shown that equipping your employees with the skills that your business needs can:

  • increase their productivity and quality of work
  • increase your overall profits
  • improve employee motivation
  • improve customer satisfaction
  • give you a competitive advantage
  • reduce staff turnover and absenteeism
  • help you to promote internally rather than paying costly recruitments charges to employ someone new

Training your workforce is one way to obtain the skills your business needs. However, you may choose instead to employ a new member of staff, perhaps a young person.  For more information on employing a young person visit Investing in Young Enterprise.