Businesses must upskill to overcome economic slowdown
Businesses should prioritize training and upskilling employees to prepare for a global economic downturn. This will help businesses weather the storm and thrive in the long run. Governments should also incentivize training through tax breaks, but ensure that the tax breaks are used effectively.
“You have to have the right people with the right attitude and skill set to position your business to weather the storm. The skills required in a bull market are different to those in a bear market. These are not skills that come naturally, they need to be taught in a way that corresponds and aligns with the operations of the business” says Peter.
