Up-skilling of talent is key to sustainable business growth

While many founders are often excited about the benefits they could derive from starting their own businesses, very few entrepreneurs anticipate the challenges that come with running a business.

From funding gaps to uncertain market conditions and unpredictable policies, businesses often experience several challenges that prevent them from succeeding.

According to official data, only about 20-30 percent of startups and SMEs in Kenya get to celebrate their 10-year anniversary, with less than one percent transitioning into corporate organisations.

As someone who has witnessed the rise and fall of many businesses, I know how remarkable reaching the next anniversary can be, particularly for a business that has been founded by a woman.

One of the key pillars of longevity I have learnt is investing in the continuous up-skilling of staff, particularly in areas such as artificial intelligence, data analytics and changing consumer behaviours.

Companies that prioritise professional development not only build strong, innovative teams but also enhance the quality of service delivered to clients.

A thriving workplace culture is equally essential for sustainability, as employees tend to excel in environments that foster agility, collaboration, and inclusivity.

The thing about culture is that it is not about flashy perks that one can brag about to their peers, but rather it is about creating a space where people feel valued, heard, and inspired to do their best work.

Companies that evolve with the needs of their workforce while staying true to their core mission are more likely to build high-performing, loyal teams.

Strong governance and strategic planning keep a company stable, while clear decision-making and proactive risk management enable businesses to navigate uncertainty and adapt to change easily.

At the heart of any enduring organisation also, is ethical, visionary leadership. Great leaders provide stability, direction, and a clear value system that aligns with the company’s aspirations.

Poor leadership on the other hand, leads to instability and loss of trust, two things that are detrimental to a business, in an era of heightened accountability, where unethical practices can lead to reputational damage or even business closure.

It is important for business founders to also know that long-term success can never be achieved in isolation. The success of a business is directly tied to the success of the clients that they serve.

Companies grow by understanding the needs of their clients and evolving with them, ensuring that the products and services they deliver are what the market is willing to pay for.

The writer is the CEO and founder of Peak and Dale Solutions Limited