National Apprenticeship Week offers the chance for small business bosses to consider implementing a scheme of their own. But since the announcement of the National Living Wage and the apprenticeship levy, many SMEs are concerned about taking the leap.
Traditionally, when countries exit extended periods of downturn, one of the biggest problems faced by businesses is building up the necessary cash reserves so that, as orders increase, the cashflow needed to service that demand exists. However, partly due to the longevity of the most recent period of stagnation, the availability of the skills required to ensure seamless business operations has become one of the biggest hurdles.
The CBI’s latest Growth Indicator showed output volumes in the three months to February growing at their fastest pace since records began; the Office for National Statistics (ONS) has confirmed GDP grew strongly in the fourth quarter; and British Chambers of Commerce (BCC) said it expects the economy to finally match its 2008 peak in the second quarter.
“I’ve just started my own company selling niche and bespoke kitchen products. My customer base is growing, I’m dealing with more and more suppliers and I’m finding it very difficult to manage my cash flow as my customers don’t always pay me on time. Help!”