Perhaps you hoped that once you branched out on your own and started your home based business, the need for training and classes would pass? No continuing education requirements or yearly training hour quotas. However, there are some industries and types of businesses where staying abreast of current and best practices is a requirement and others where periodic or regular training is just a good idea. Without a boss or human resources department to mandate it though, who decides what sort of training (and when) that you might need?
As small home business owners, most of us have to manage our training needs on our own. Perhaps this is why once we are in business for ourselves, we tend to spend less time taking in training workshops, classes, etc. If you have licensing that you need to contend with, it is important to be clear on how many hours of continuing education you need annually (or whatever the time period may be) and to keep accurate records of what you do. Make sure you have a clear understanding of what actually “counts” and can satisfy training requirements.
If you don’t HAVE to get training, it is still a good idea to budget periodic “additional training” into your expense budget. Additional education or certification can be a good marketing tool, in addition to keeping your business skills up to date. Getting specialized training or augmenting your business services with additional education or skills can not only be a boost to your business, it may be tax deductible as well. You will need to see your tax consultant or financial advisor to make sure you understand how training expenses should be tracked.
Where to look for good training opportunities? Consider conferences and workshops where you can network while you are updating skills. Also–chambers of commerce, community colleges, business associations, and even your alma mater may have great opportunities for business training experiences.
Also: Keeping Up With Continuing Education Requirements