THE IMPORTANCE OF TRAINING AND EDUCATION FOR NEW ZEALAND ENTREPRENEURS TO BE SUCCESSFUL: SOME EMPIRICAL EVIDENCE

Entrepreneurship date back thousands of years. Effective workforces require training and education. Entrepreneurs need a thorough training needs analysis before adapting training programmes. Training describes learning activities to improve entrepreneurs' knowledge, skills and abilities to perform and manage effectively. Education improves competency of entrepreneurs. Models are referred to in the literature review. Training and education needs were identified for entrepreneurs to maintain competitive advantage and profit margins. A study done in 2008 in Auckland, New Zealand found that training and education is necessary for entrepreneurs and employees; how they could gain greater efficiencies and increased profit through training of current employees.