News: Performance Management
Training to be bosses' 'greatest financial investment'
07 August 2008
Determination to boost revenues in the coming months has led a large proportion of entrepreneurs to prioritise training, performance management and recruitment, according to Deloitte.
In a new survey of business owners across the country, the professional services firm found more than a quarter plan to make the developments their "single biggest financial investment" over the next year.
"Entrepreneurs have a voracious appetite for growth and a passion for success," remarked Tony Cohen, Deloitte's head of entrepreneurial business.
He continued: "As the owners and managers of their businesses there is a lot at stake.
"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."
Deloitte's findings, entitled Entrepreneurship UK: 2008, indicate that almost half of the entrepreneurs surveyed want to grow their revenues by over 30 per cent via training and performance management, with a quarter aiming for between 25 and 50 per cent growth in the next three years.
Technology, media and telecommunications firms were found to be the most positive about the business benefits of training.
