Pictured above: Jason Davis (Advanced Carbon Energy Solution), Gary Saxon (Lloyds TSB Commercial), Denise Taylor (Bridge PR & Media Services) and Ranvir Turna (Lloyds TSB Commercial)

Coventry's small business owners are struggling to find skilled employees that adequately meet their firm's needs.

These key concerns were brought to light in a new survey by Lloyds TSB Commercial which revealed a perceived skills shortage in the West Midlands, with almost half (43 per cent) of small business owners believing there to be a lack of suitably skilled workers in their region.

The new research coincided with an event held by the bank at the Coventry Holiday Inn last week (Thursday 30th June 2011), which provided guidance for over 50 firms in attendance on a range of business issues including employment regulation, accessing finance and becoming more sustainable. 

With West Midlands businesses citing 'sufficient experience to have the right skills' and 'knowledge of the wider industry' as the main skill shortages within the region, employment experts Peninsula were on hand to address how firms can remain compliant with recent employment law whilst still focusing on the growth of their business and developing a strong and skilled workforce.

In addition to highlighting these regional employment shortfalls, senior manager for Lloyds TSB Commercial Gary Saxon encouraged guests to explore the range of finance options available to them and urged firms to get to grips with becoming more sustainable in their everyday business activities. 

Gary said: "What's interesting about the employment research is that whilst West Midlands business owners believe there is a lack of suitably skilled workers in the region, over half (55 per cent) of the area's employees feel their organisations should provide increased training, either within the company or externally.

"The skills currently considered to be in short supply are those where more staff training and 'hands on' experience may alleviate the problem, and so it is vital that Coventry businesses invest in their employees.

"A solid and strong workforce is the backbone of any firm so it is vital that business owners engage, train and respect their employees. 

"Training does not have to be expensive - SMEs can focus on internally run courses which do not require a large budget but still promote the employer-employee relationship, increase company performance and ultimately result in the growth and development of the business."

Firms were also given the opportunity to have a one-on-one discussion with their local expert from Peninsula as well as the chance to partake in an interactive workshop focused on sourcing and accessing suitable finance options.