Entrepreneurs are to prioritise recruitment and training of quality staff as their largest financial investment in the next year, according to a new report.

The report, from professional services firm Deloitte, shows that 31% of entrepreneurial businesses think a quality talent shortage is the main barrier to achieving business growth, while 27% of businesses will make the recruitment and training of quality a focus for investment.

Almost half, (49%) externally recruit, with just 23% internally promoting staff, while 47% would like to internally promote workers.

Tony Cohen, head of entrepreneurial business at Deloitte, said: “Entrepreneurs have a voracious appetite for growth and a passion for success.  As the owners and managers of their businesses there is a lot at stake and it comes as no surprise that their greatest financial investment for the year ahead will be in recruiting and training the right people to help grow the business.”

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