Entrepreneurs’ number one spending priority in the next 12 months will be recruiting top talent, a new survey has revealed.

The facts:

The survey of owner-managed businesses by accountancy firm Deloitte shows that nearly a third (31 per cent) thought a shortage of skills would be the main barrier to growth in the near future.

But 27 per cent of respondents said they'd do something about it by prioritising the recruitment of top talent. Half of these expect to recruit from outside sources and 23 per cent said they’d promote internally.

In some much needed positive news for the economy, the survey also shows that more than half expected to increase sales by 30 per cent or more in the next 12 months.

Tech firms were most bullish, predicting an average 26 per cent growth in that time, and 111 per cent over three years.

And a fifth of business owners said the looming recession would have no impact on the growth of their business.
 
They said:

“Entrepreneurs have a voracious appetite for growth and a passion for success,” said Tony Cohen, head of entrepreneurial business at Deloitte. 

“As the owners and managers of their businesses there is a lot at stake and it comes as no surprise that their greatest financial investment for the year ahead will be in recruiting and training the right people to help grow the business.”

We say:

It’s great to hear entrepreneurs adopting a war mentality in the face of increasingly miserable economic conditions; instead of going into hibernation like so many of the corporates.

The commitment to recruit top talent chimes nicely with widespread expectations of growing unemployment in the UK, meaning we’ll have more skilled workers to choose from.

The next 12 months could be the best time in the last 15 years to go shopping for new recruits.

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By News Desk  on   Jul 31,2008

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Keywords

recruitment    entrepreneurs    small business    owner-managers    Delloite    talent   

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