New AAT Skills Store equips small businesses with financial skills for the future
AAT (Association of Accounting Technicians) has launched Skills Store, offering a new way for people to upskill by gaining the crucial financial skills that underpin every successful business.
Skills Store offers a range of high-quality, interactive online courses which address finance skills gaps, benefiting both individuals and small and medium-sized enterprises (SMEs). Drawn from AAT’s world-class accounting and finance qualifications, there are currently six courses available, including bookkeeping, financial statements and cash flow. The courses can be purchased individually or as part of a discounted ‘Business Finance Basics’ bundle, and are available through Informi, AAT’s website offering free practical advice and support for small businesses.
Informi saw an 88% increase in traffic over the first seven months of 2020 compared to the same time last year, highlighting that businesses are looking for much-needed support in these challenging times.
Previous research from AAT also shows that over a third of people responsible for finances in small and medium businesses do not have a relevant qualification – which could result in issues such as tax miscalculations, unpaid invoices and fines – potentially costing the UK economy up to £2.9bn. The research also found that finance and accountancy tasks are often shared between a number of employees in SMEs, and that most of these staff have learned finance skills on the job with limited spending on qualifications.
Steven Drew, head of markets and products, AAT, said: “With the ongoing Covid-19 (coronavirus) pandemic and uncertainty around the impact of Brexit on budgets, it’s vital that SME owners invest in developing employees’ financial skills where possible to help prepare for the future.
“That’s why, in the year of our 40th anniversary, we’ve launched AAT Skills Store, giving small and medium-sized businesses a new opportunity to upskill without setting foot into a classroom. The courses cover many of the financial areas SMEs often struggle with, such as budgeting and cash flow, and offer high-quality training at an affordable cost. Undertaking one or more of these courses will help individuals and SMEs to gain the skills they need to adapt to a rapidly changing business environment.”