When a business is in its infancy, it’s normal for the founding entrepreneur to do as much of the work as possible themselves, from planning and design to order fulfillment. As the business grows, and financial turnover increases, it’s common for entrepreneurs to think of expanding their business and taking more people on. This is one of the most important decisions that an entrepreneur will ever make, but as the study by NFIB shows it’s not always straightforward. Here, BC&P International look at the survey and what it means for businesses.
“It’s a simple fact that the more people you have working for your business, the greater the output you can produce, leading to potentially greater profits,” said the Managing Director Gustavo Rodriguez of BC&P International. “As the economy continues to grow, more and more businesses are thinking of recruiting new staff so that competition can be fierce for the right people. Entrepreneurs should do all they can to make their business attractive to top quality job applicants.”
The NFIB study takes a broad look at the current position, and future expectations, of small businesses throughout the United States. By comparing current results with those from previous years, it’s possible to get a good picture of economic progress, and the results are just as pertinent to businesses in the UK. One factor that is very good news for the economy is the continued rise in job creation, with significant net increases and in another finding, however, shows that the picture could be even rosier if only the businesses were able to recruit workers for all the positions that they had.
The job openings figure, as revealed by the FNIB’s survey, is now at its highest level for five years. 29% of small businesses said that they had job openings right now that they were unable to fill. This result can be read two ways, of course, but the overriding impression is one of an economy that’s really beginning to boom again, and one where the number of people in employment is really on the up and up.
“A business is only as good as the people who work for it, so it pays to take time over recruitment and find the ideal candidate”, said the Managing Director Gustavo Rodriguez of BC&P International. “This could be one reason why so many companies currently have unfilled vacancies, but by providing a great working environment, the perfect applicant can still be found.”
Businesses in all sectors can benefit from the bespoke marketing campaigns of BC&P International, through customer acquisition and increased brand awareness.