More than three-quarters of UK firms have said they are seeing trading hit or growth stalled amid intensifying skills shortages.
The Open University ’s annual Business Barometer report, conducted in partnership with the British Chambers of Commerce (BCC), found that more than two-thirds (68%) of small to medium-sized enterprises (SMEs) are facing skills shortages, with the figure rising to 86% for large organisations.
The shortage is having a knock-on impact on company performance, with 78% of firms noting they have seen reduced output, profitability, or growth, while 28% of businesses stated that they have had to turn down work as a result of staffing woes.
