A new Westpac survey has revealed three in every five small businesses who were unprepared for COVID-19 are still uncertain about how to implement the right business strategies to recover.
To help, Westpac has today announced a collaboration with TAFE NSW to deliver a national education course for 1000 small business customers to help them meet the ongoing business challenges resulting from COVID-19.
The 12-week TAFE NSW course called the "Small Business Growth Series" aims to give small business owners additional training on current topics to help them reposition their businesses for growth.
The course will focus on:
- Innovation and change strategies to pivot business operations to respond to change
- Keeping pace with the digital curve and developing strategies to meet the surge in customer preference for online channels
- Identifying and managing new business opportunities and business risks over the medium to long term
Westpac Business division Chief Executive Guil Lima said this was an important initiative showing our support for small business.
"Westpac is delighted to collaborate with TAFE NSW to help small business owners upskill and increase their knowledge to help meet the challenges associated with the COVID-19 pandemic.
"As Australia moves out of recession and into a period of growth, we want these businesses to be equipped with the latest thinking and business strategies to help them prosper.
"This course offers relevant and practical insights to help small business owners better manage through times of crisis, understand business risk, and improve digital and social media marketing."
Minister for Skills and Tertiary Education, Geoff Lee, welcomed the collaboration and said skills training will play a large role in preparing businesses for a post-pandemic environment.
"It's great to see Westpac and TAFE NSW join forces to give small business owners the skills and training required to assist their business in the COVID-19 recovery.
"TAFE NSW has a strong track record of working with industry to provide businesses with the practical training they need to help their companies thrive."
The Westpac research also revealed:
- Three in five small businesses were not prepared for the COVID-19 pandemic and the impact it would have on their businesses.
- 38 per cent of SMEs say their interest in participating in online training courses has increased since COVID-19.
- 56 per cent of businesses say they would benefit from an education course.
