• Sunday , 22 July 2018
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Skills for growing a business

As your finance arrangements become more complex, you’ll need staff to manage company accounts, and find and manage outside investment

Your marketing may need to be more sophisticated – therefore you’ll need to understand advertising and the media

The number of employees may increase to a point where you need to hire HR professionals, who may also help your business comply with employment law

If your business is involved in a sector where health and safety is particularly important, e.g. construction or manufacturing, you may need to hire health and safety professionals

New equipment and/or processes in your business may mean that you need to hire technical specialists

As your IT system becomes more complex, you may need to have in-house IT knowledge

As the owner or director of a successful growing business it is essential that you recognise when new skills are needed and you take the right steps to meet them.

You are unlikely to be able to find the time or have the ability to meet most of them yourself. Consider:

  • building a management team
  • delegating responsibility to other staff
  • recruiting to fill a skills gap
  • outsourcing the work to a specialist contractor
  • training existing staff to meet your skills needs