BCC Quarterly Economic Survey: Skills shortage biggest risk for business in 2018
The British Chambers of Commerce Q4 2017 Economic Survey – the UK’s largest and most authoritative private-sector business survey – indicates that skills shortages are reaching critical levels.
- Of the service sector firms hiring, the percentage reporting recruitment difficulties rose to 71%, the highest since records began.
- In manufacturing, the percentage of recruiting firms reporting difficulties stood at 75%, its highest since Q4 2016
Commenting on the results, Dr Adam Marshall, Director General of the British Chambers of Commerce, said: “While there are many business bright spots across the UK, the evidence from the biggest private business survey in the country shows that growth and confidence remain subdued overall as we enter a new year. Labour and skills shortages are set to be the biggest potential drag anchor on business in 2018, since ultimately it is people that make businesses work.”
The results emphasise the need to kickstart the economy by addressing the barriers to growth – in particular the growing skills gap – which is hindering the ability of companies to find the talent they need to develop.
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