UK unemployment rose by 114,000 between June and Aug to 2.57million, to a new 17 year high. The outlook for the economic climate still looks uncertain until the end of 2011, with recovery dependent on exports and the ability of the private sector to create jobs.

Studies have shown that while the economy is forecast to grow by 2.2% over 2011, growth will ultimately depend on sufficient business confidence and companies exploiting investment, employment and training opportunities.

There is a generally held view that training budgets are ‘one of the first to go’ in a recession. An on-line poll of 120 learning and development managers, carried out by the South West Observatory, found that 44% expected cuts in their training budgets over the next 12 months, while 54% expected budgets to remain stable and just 2% expected an increase.

Conventional theory is that employers cut back on training during periods of recession both to save money and because they are less likely to be recruiting new staff. Economic pressure means that they have to resort to short-term solutions that can leave them without the skilled people required for when economic conditions pick up. (South West Observatory, Skills and Learning).

However further research from the Cranfield School of Management has found investing in training during periods of recession not only saves money and improves motivation during difficult times, but is more cost-effective than shopping around for talent when there is a rise in the economic climate.

Business First, the commercial arm at Swindon College, are able to support local and regional businesses to either up-skill or retrain their staff using a variety of different training solutions, some of which are either fully funded or highly subsidised. 

As part of one of the largest vocational Colleges in the South West, Business First is able to offer specialist courses across all industry sectors with flexible work-place schedules to suit your organisation. In addition, Business First are able to offer a full range of value added services. These include a dedicated Account Manager, recruitment services for staff, access to employer networks and forums, full training needs analysis and continued professional development.

So whether you are looking for NVQs, Apprenticeships, bespoke or specialist industry training, the Business First team are here to understand your business needs and ensure you are getting the right training for the right people to support you throughout the economic downturn.

For more information or to discuss your business requirements contact us via our online contact form or call us on (01793) 498404.