2023 has been a challenging year for business with the cost of living soaring and concerns about a recession at the forefront of minds, but a new poll of SMEs in England from the Skills for Life campaign reveals that SMEs in the South West of England expect on average a 23 per cent growth in revenue this year.
The Skills for Life campaign aims to help SMEs understand the schemes available to them, including:
- Apprenticeships
- T Levels: industry placements
- Skills Bootcamps
- Multiply numeracy courses
- Higher Technical Qualifications (HTQs)
According to the research, 64% of SMEs in the South West of England are also planning to invest in upskilling their workforce, bolstering their capabilities for the year ahead and ensuring they have the workforce in place to meet demand in the sector. Others are seeking new recruits, with over a quarter 29% looking to hire from training and employment schemes including apprenticeships and hosting T Level students on industry placement.
The optimism for growth for the year ahead is positive, and there are many options available for businesses looking to plug skills gaps and boost their workforce in a cost effective way that will help them to reach their 2023 ambitions.
Businesses that are considering hiring employees can access a range of government training and employment schemes offering work experience or upskilling existing staff, some of which offer financial incentives.
Find out more about the training and employment schemes for your business to keep your business moving.