Firms hampered by the ‘skills gap’

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MANY companies are struggling to find staff with the right skills, according to research conducted by Leeds-based private equity house Key Capital Partners.

KCP’s inaugural Growth Panel, a survey of company bosses from across a range of sectors, found that more than 50 per cent reported that the “skills gap” was the single biggest issue facing them.

The Growth Panel will track the views and experiences of around 20 business owners and managers on a quarterly basis during 2013, in order to provide an insight into the major issues affecting firms.

In order to keep costs down, businesses are employing fewer workers, while still striving to maintain high production levels.

A spokesman for Key Capital Partners said: “At many firms, spending on staff training has been cut, leaving existing employees under-trained even though companies find it difficult in the current climate to recruit more highly-skilled labour. However, the more successful companies are tending to make greater use of Government initiatives, such as subsidised apprenticeships.”