Are UK businesses investing? According to some politicians, they’re not. According to some business surveys, they’re not. But in my various guises I’ve spoken to a lot of businesses who are investing.
Now investment does not only include equipment or physical things. In our current economy, investment in knowledge and skills is often just as important, but these can be investments of time. This form of investment does not not necessarily show up in surveys only recognising investments of money.
I believe businesses in the UK are investing millions of hours of time in development. When you consider that there are 4.5 million small businesses in the UK, that would be 4.5 million hours alone if each invests just one hour. Of course, some will invest nothing, while others will invest hundreds or thousands of hours.
What is the value of this investment if time is charged at £10, £25, £50, £100 or more per hour? What is the real picture?
As a start I thought it would be interesting to do a quick poll and see how UK businesses are investing. Please take part and pass on to your connections.
From my own perspective, my business is investing in equipment, in software and in personal and skills development. I am sure many more are doing the same.