Austria’s dual training system is a valuable resource for businesses looking to address the shortage of skilled workers. By investing in apprenticeships and ongoing training programs, companies like SBO are able to cultivate a skilled workforce and retain employees for the long term. Despite high tax and labor costs in Austria, these companies remain competitive by focusing on technology and quality leadership.
Companies that work with international suppliers must ensure compliance with human rights standards, which requires an enormous effort. While some companies like Böhler in Kapfenberg may already have systems in place, others may need to make significant changes to their operations. Addressing this challenge can be daunting, but businesses that prioritize compliance will be well-positioned for success in the long run.
The energy transition presents new challenges for many industries, but companies like SBO see opportunities for growth in emerging markets such as geothermal drilling, carbon capture, and hydrogen production. By leveraging their expertise in materials science and steel manufacturing, they are well-positioned to capitalize on these evolving industries.
While global events can create uncertainty, businesses that diversify their operations and remain adaptable are better positioned to weather geopolitical challenges. For example, the recent conflict between Russia and Ukraine has had minimal impact on businesses like SBO, as their operations in Russia are limited and they have complied with international sanctions.