A successful business is based on the working staff and their abilities. It is of great importance that employees are capable of preventing a potential crisis and recognizing any kind of danger that might appear. The main reason a business is faced with a bankruptcy or with a general recession is the inexperience of the employees to identify early warning signs of a business crisis and the need for appropriate management.
With that in mind, the project Stay AFLOAT is designed to equip entrepreneurs and SMEs with business advisors (coaches) that are trained specifically for the recognition of early warning signs of a business crisis. The early-stage warning signals of business crisis and intervention strategies will be implemented into their training programmes to improve their skills and attitude of them and change entrepreneurship teaching for the better. Based on the 2018 Proposal for a Council Recommendation on Key Competences for Lifelong Learning, the project aims for the acquirement and development of basic skills and key competences for the individuals in order to be successful in their entrepreneurial activity, most importantly in the business’s first years of activity.
The project results are, first the Stay Afloat Framework – a digital document containing up to date knowledge on early warning signals of business crisis, including detection and intervention opportunities, the second one is Stay Afloat Curriculum and Open Educational Resources (OERs) – a complete toolkit for business advisors for teaching early-stage intervention skills to entrepreneurs as part of their business development programmes and, finally, the third one is Stay Afloat Online Course – based on the OERs and optimized for digital delivery, enabling SMEs and entrepreneurs to develop and test their skills.
Innovation Hive will contribute and participate in all project results while we will be responsible for the development of the second project result, Stay Afloat Curriculum and Open Educational Resources (OERs).
The STAY AFLOAT Kickoff Meeting was held in Flam (Norway) on the 2nd and 3rd of February. During the meeting the partners set the goals, arranged the project calendar and distributed the tasks among the partners.