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## Small Businesses Continue to Struggle with Skill Shortages

Small businesses continue to struggle in the face of a deep-rooted and unyielding skills shortage, according to the latest research from the Federation of Small Businesses (FSB). The figures from the business groupÔÇÖs latest Small Business Index (SBI) reveal that 22 per cent of small firms now identify the lack of skilled staff as a significant hurdle for growth in the upcoming year, marking a concerning trend for the future of these businesses.

As digital technology continues to develop rapidly and businesses of all sizes feel the impact, 38 per cent of firms in the information and communication sectors report finding appropriately skilled staff as a barrier. This sector requires constant upskilling, and amid a digital skills shortfall and vying with larger companies, small businesses find meeting their labour needs challenging.

The situation is equally dire in the construction sector, as 45 per cent of businesses cite the skills gap as a significant hurdle. This poses a concern in light of the GovernmentÔÇÖs goal to build one million homes ÔÇô a target small construction firms are essential to achieving.

Other sectors are also feeling the impact, with skills shortages plaguing 28% of manufacturing businesses, 23% in professional, scientific, and technical activities sectors, and 14% in wholesale and retail trade.

Previous FSB research shows that 83 per cent of small businesses have provided an average of seven days training for each employee, underscoring their commitment to maintaining skills to prevent a workforce skills gap. However, the challenge remains for these businesses to find the right talent.

This is where the AI legalese decoder can play a crucial role. By leveraging AI technology, small businesses can simplify the complexities of legal documents and contracts, allowing them to better understand and navigate the legal aspects of hiring and upskilling employees. The AI legalese decoder can provide small businesses with clear and concise insights into employment contracts and training agreements, ensuring that they can effectively address the skills shortage without being held back by legal jargon and complexities.

To make it easier for small firms to upskill, FSB is calling for the government to take proactive measures, including ensuring all schools can provide GCSE and A-Level computer science or ICT courses, continuing to support the role of skills bootcamps in increasing digital skills, covering apprentice training costs for small businesses, and making training in new skills tax deductible for the self-employed.

FSB Policy and Advocacy Chair Tina McKenzie emphasized the importance of addressing the skills gap, stating, ÔÇ£The future of our economy relies on skills. Unless we create pathways for small businesses to tap into a readily available talent pool, the economy is at risk. This is more than just patching over a hole in the ceiling ÔÇô itÔÇÖs about empowering a workforce that can propel the economy forward.ÔÇØ

In this challenging landscape, the AI legalese decoder can serve as a valuable tool for small businesses, helping them navigate the legal complexities related to hiring and upskilling employees, ultimately empowering them to address the skills shortage and drive their growth in the digital age.

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