AAT research highlights value of apprenticeships for small businesses

| March 9, 2018

article image
A study from the Association of Accounting Technicians (AAT) has highlighted the value of apprenticeships for smaller businesses.The research, which coincides with National Apprenticeship Week, showed that small businesses are recognising the benefits of apprenticeships, with 97% insisting that taking on an apprentice has been constructive and good value for money.Apprenticeships were also found to help boost productivity, with this being cited by 90% of small businesses, whilst 63% said that apprenticeships have helped their staff to gain the skills that they need.More than 75% of small businesses reported an increase in the total number of new apprentices that they have taken on over the last five years and 96% said that they are highly or quite likely to increase their number of apprentices in the next couple of years.The research also showed that apprenticeships have helped small businesses to increase their number of permanent staff, with those who have brought in apprentices offering to keep more than 60% of them upon completion of their apprenticeship, while 21% kept all of the apprentices that they have taken on.

Spotlight

KoMarketing Associates

KoMarketing helps B2B organizations get found online, drive more leads, and build brand visibility. We do this through strategic search, social media, and content marketing programs tailored to your specific business challenges. Founded in 2004, KoMarketing has become one of the world’s best-known B2B online marketing agencies. Clients stay with us for years because we work hard and get results.

OTHER ARTICLES

Covid-19: Help for your Small Business

Article | April 21, 2020

The federal government's stimulus PPP for small businesses, the $349 billion Paycheck Protection Program, which offers forgivable loans to small businesses, ran out of money on last week. Over the weekend, Democrats and Republicans were negotiating a deal that would allocate $310 billion more into the Paycheck Protection Program, setting aside $60 billion of that sum for rural and minority groups. Another $60 billion would go to the Economic Injury Disaster Loan program, a separate program offering loans for small businesses administered by the Small Business Association.

Read More

What To Know About Getting Government Contracts

Article | May 20, 2021

To help you better understand government contracts, we asked contracting experts and business leaders for their best advice. From cybersecurity training to ensuring worker safety, there are several things that you should know that may help you better understand government contracts.

Read More

7 Must-Have Google Tools for Small Businesses

Article | March 9, 2020

Small budgets and small businesses tend to go hand in hand. Unfortunately, the tools you need to manage your digital marketing campaigns successfully tend to eat away at that budget. These seven must-have tools from Google each fill a critical need at a low cost, and some are free.

Read More

QUICK TIPS FOR COMING UP WITH BETTER BUSINESS IDEAS

Article | August 27, 2021

Coming up with great business ideas is one of the most important things you will need to do as an entrepreneur. You can have all the confidence and training in the world, but if you don’t have an idea your customers can get behind, your organization isn’t going to go anywhere. So, what do you do when you’re struggling to find your Eureka moment? It takes many business leaders a lot of time and effort to find the idea that’s going to make them the next Bill Gates or Elon Musk. While there’s no guaranteed way to ensure lightning strikes, there are a few tips you can follow to improve your chances of getting the right inspiration. Build Your Education Going to college and earning your degree is not just a way to improve your resume, it also trains you how to think in different ways and look for unique solutions to problems. Going to college to earn a business degree can help you to develop your confidence, your understanding of your industry, and your ability to brainstorm. All you need to do is find a private lender who can finance your way through school, and you can use this period of your life as a crucial time for personal and professional growth. Record Every Idea Sometimes, we are too harsh with ourselves about what we identify as a good idea. Sometimes, a concept can come to you in the middle of the night, and by the time you’ve reached the next morning, you might have already convinced yourself it’s no good. Rather than ignoring moments of inspiration, take a note of all ideas, whenever they come to you – no matter how silly they might seem. Getting used to this process of considering every idea will help you to avoid ignoring any concepts that could be a lot more impressive than you think. Start with the Problem One of the best ways to guarantee that your business will be a success, is to work backwards from a problem your customers already have. The chances are you already have an industry and target market in mind for your business, so start exploring the market and finding out what competitors have to offer. Are there any gaps that aren’t being addressed? What kind of problems do you notice customers in your marketplace talking about all the time? Is there anything you can do to solve these issues for your customers? How are you going to offer a result where no-one else could? Be Better than the Competition Sometimes, you do not need a brand-new idea, all you need is a way to be better than the solutions already on the market. For instance, rather than designing a completely fuel-efficient car that does not use any fossil fuels, a lot of automobile companies started working on hybrid cars that could offer a combination of performance and eco-friendly functionality. Find your most significant sources of competition in the market and ask yourself what you could do to make the solution even better for your audience. Ideally, you shouldn’t get too focused on being the cheapest option when you’re just getting started. Most of the time, larger companies have more supplier options, so they can fight you on price quite easily. Leverage Your Passions The best business owners and aspiring entrepreneurs are often the people who started with a hobby or an idea and turned that into a career. Ultimately, you’ll always accomplish more in your business if you’re doing something you genuinely care about. With that in mind, you should always choose an industry that appeals to you when you’re building your new company. Think about what kind of products and solutions you’re usually excited about. Ask yourself what you’re good at, or what you can do that no-one else can. If you launch a business, you are passionate about, you will be much more likely to keep pushing forwards, even when your company faces a difficult stage. Do Not Restrict Yourself You do not have to choose a specific business idea and stick to that no matter what from day one. Spend some time brainstorming concepts, and do your research to find out which idea has the highest earning potential, or which is the most exciting from an innovation perspective. Once you’ve built your business, you can also begin to think about how it can grow in the future. For instance, just because you start your career creating gluten-free bread for people with intolerance doesn’t mean you have to stick to just bread forever. As your company evolves, you can move into new markets like pasta and pastries, or even spread around the world. Keep Exploring New Ideas Even once you have chosen an idea you want to pursue as a business owner, that does not mean you should stop coming up with ideas. Constant innovation and creativity are how most businesses stay ahead of the competition. Encourage your entire team to share their thoughts on how the business can improve, and have regular meetings where you can discuss new opportunities and avenues. Just like people, companies can evolve and change over time, give yourself the freedom to grow at the pace that suits you.

Read More

Spotlight

KoMarketing Associates

KoMarketing helps B2B organizations get found online, drive more leads, and build brand visibility. We do this through strategic search, social media, and content marketing programs tailored to your specific business challenges. Founded in 2004, KoMarketing has become one of the world’s best-known B2B online marketing agencies. Clients stay with us for years because we work hard and get results.

Events