MYOB’s most recent Snapshot Survey revealed that trial and error was the number one method being used to gain skills when it comes to building a business or startup. The research saw the leading cloud accounting provider talk with more than 400 of its business customers about issues affecting them.
About 38 percent of those surveyed revealed that, when it came to the running their new business, trial and error provided them with the best learnings. CTO at MYOB Simon Raik-Allen said that the two other major places from which business owners sourced information and learning were accounting and financial advisors (32 percent) and professional networks (32 percent).
“Startups are basically learning on the job, and tapping professionals around them for advice,” says Raik-Allen. “When you combine this with our last SME Snapshot finding, that showed that some 78 percent of SMEs think that you don’t need a degree to run a business, we can see a real opportunity emerging to provide practical training for entrepreneurial types.”
In addition to questions around skills and learning, the most recent Snapshot Survey asked participants about their feelings when it came to the change in Prime Minister in mid-September.
“45 percent [of participants] thought the change in Prime Minster would have no impact at all, although this might reflect the warm reception the ‘SME package’ the Federal Budget received under previous leadership,” says Raik-Allen. “Some 35 percent thought Prime Minister Turnbull would have a positive impact on their perception of the government’s support for SMEs, while just 5 percent thought the impact would be negative.”
This feedback reflects the results of last year’s Startup Muster Survey, which showed that the then-Minister Turnbull enjoys mass-adoration, specifically from the tech startup sector; he was perceived by the startup community as Australia’s most supportive politician of the nation’s startup ecosystem.
In addition to the above, the survey also collected views from participants on how they compete with bigger companies when it comes to attracting quality candidates for jobs.
According to 38 percent of respondents, employee flexibility was the key seller in attracting valuable talent, while 21 percent claimed that it was the culture that their businesses provided which new talent identified as their main reason for coming to work for an organisation.
“Today’s small business owners are appealing on the personal front – being a great place to work – rather than salary packages,” says Raik-Allen. “At a time when skilled workers are hard to find, this shows that bringing a bit of heart to the equation can inspire loyalty and win out over the big guys. SMEs do flexibility really well; we know it’s a major motivator in going out on your own. Making this part of your offer to employees is likely to give you the inside running in attracting quality talent.”