Successful business management requires an ongoing commitment to professional development. Both the owner and manager of a business should invest time into keeping up to date with the latest business developments.

Time and money spent on relevant ongoing training usually has a favourable return for both companies who invest in upskilling staff and employees seeking a more senior position.

Why Business Education is Important

Business owners are usually a passionate bunch. It takes grit and endurance to start a business and keep it alive.

Often, business owners have an incredible wealth of technical or specialist knowledge but haven’t had any formal business management training. They may find it challenging to grow or maintain momentum.

Various things can go wrong from here, ranging from minor inconveniences to major disasters.

For example, business owners keeping track of their own business finances may miss out on efficiencies or ‘tricks of the trade’ that save time and hassles.

Of more concern would be an instance where a business owner doesn’t stay up to date with the latest HR management requirements. This leads to a workplace fraught with potential hazards, both for staff and for the employer. Staff may inadvertently have their employment rights violated. Business owners can be liable for serious fines or even criminal prosecution for such infringements, particularly in the case of Work, Health & Safety incidents.

To make sure the business is running as effectively as possible, it is important that business owners and managers stay up to date.

Where Can Business Owners or Managers Access Business Education?

There are many short business courses available online. These vary in quality, price, and relevance to the Australian market.

As the saying goes, ‘You don’t know what you don’t know.’ This means that business owners and managers self-selecting short courses are likely to miss important components they may not be aware of.

It is always advisable that the person responsible for managing the business undertakes a recognised formal qualification, at least to start with. Short courses can then be used to build additional skills.

Business owners interested in focusing on their area of specialty can empower degree-qualified middle management to take on some of the business-focused tasks by supporting them to complete a Graduate Diploma of Management (Learning).

Management staff with no formal qualifications (who may have excellent product knowledge or show promise in some aspect of the business) can also begin learning with a relevant recognised online certificate course.

Businesses take performance to the next level with formal business training.