Media firms face recruitment challenge

LONDON - More than eight out of 10 media and publishing companies are finding it difficult to recruit staff with the right skills for their businesses.

According to a survey of small and medium-sized UK companies by private equity firm Bowmark Capital, 85 per cent of firms in the sector have faced problems finding the right staff.

The survey, conducted last September and October, tracked the financial performance and levels of optimism among SMEs in several sectors including media.

It found that 87 per cent of respondents from the media sector were optimistic about business prospects, while 36 per cent expect to increase revenue by more than 20 per cent in the year ahead and 37 per cent anticipate a comparable rise in profits.

The survey believes the optimism of these companies may reflect their generally strong performance over the past 12 months, when 45 per cent of media companies upped revenues by 20 per cent or more.

Among other findings, 21 per cent of companies surveyed said that they expect to up headcount by more than 20 per cent over the year ahead. However, a similar undisclosed percentage said that they expect to cut jobs or maintain current staff levels.

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