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British Businesses Urged to Tackle Skills Shortage

Three quarters of British businesses believe a significant skills crisis will hit the UK within the next three years (73 per cent), while two fifths predict this will happen within the next 12 months (43 per cent).  Two thirds fear skills shortages will slam the brakes on the UK’s economic recovery (68 per cent); while one in three fear it would cause their business to fold (35 per cent).

According to The Prince’s Trust and HSBC report, based on interviews with 616 UK business leaders, 72 per cent believe that the recruitment of young people into the workforce is vital to avert a skills crisis.

The research reveals that more than two-fifths are already experiencing skills gaps within their organisations (43 per cent) and over half are currently facing difficulties filling vacancies (53 per cent).

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