6. Knowledge and adequacy of skills requirements associated with running a business

6. Knowledge and adequacy of skills requirements associated with running a business

Key findings: Skills that are most considered to be at adequate levels among the survey respondents are:  To be able to accept responsibility  To be able to make SMART goals  To understand and implement the importance of digital marketing  Effective time management  To understand and read profit and loss statements  To undertake business plan presentation in front of donors, clients, employees Skills that are considered to be low level among survey respondents are:  To understand and use for management purpose the cash flow statement  To know and understand the profitability ratios.

In field VI of the survey, the respondents were asked to indicate how adequate they considered their present knowledge and skills. The answers are presented in following charts.

Entrepreneurial competencies: As is shown in a Chart 18 more than 60 % of 111 survey respondents rate following entrepreneurial skills high to moderate level of possessing.

Chart 18

Ideation competencies: According the data presented in the Chart 19 respondents rate their ideation competence as high to moderate level of possessing.

Chart 19

Marketing Competencies: In this set of skills respondents rated themselves mostly with moderate level of possessing. More 60% of respondents rate skill understanding and implementing the importance of digital marketing as high level of possessing. While skill ability to create and to be ability to execute a marketing plan with lowest level of possessing.

Chart 20

Organization and production competencies: According to the data gain through the survey, respondents declare that the competence Effective time management is one of the competencies that 68 respondents (61%) rate with a high level of possessing. While competence ability for planning and describing the production process flow is rated with a low level of possessing by 15 (13,5%) respondents.

Chart 21

Financial competencies: Over 50% of respondents rate the skill understanding and reading profit and loss statements, with a high-level of possessing. In this set of competencies, 20% of respondents rate the competencies: understanding and using for management purpose the cash flow statement and knowing and understanding the profitability ratios with a low level of possessing.

Chart 22

As it is presented in the chart below, more than 50% of the respondents rate the skills in this set with a moderate to a high level of sufficiency. While the number of respondents that rate these skills with a low level of possessing is almost equal.

Chart 23

Among the skills rated with a high level of possessing by the survey respondents, with more than 50%, are:  To be able to accept responsibility  To be able to make SMART goals  To understand and implement the importance of digital marketing  Effective time management  To understand and read profit and loss statements  To undertake business plan presentation in front of donors, clients, employees

Skills rated with low level of possessing among survey respondents are:  To understand and use for management purpose the cash flow statement  To know and understand the profitability ratios