Austria’s dual training system provides 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.
While some companies may already have systems in place to meet human rights standards, others may need to make significant changes to their operations. The supply chain law affects businesses that work with international suppliers, requiring an enormous effort to ensure compliance with these standards.
Despite high tax and labor costs in Austria, businesses like SBO are able to remain competitive by focusing on technology and quality leadership. By emphasizing innovation and product differentiation, they are able to offset the impact of high personnel expenses.
The energy transition presents new challenges for many industries, but companies like SBO see opportunities for growth in emerging markets like 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 the recent conflict between Russia and Ukraine has had minimal impact on businesses like SBO, global events can create uncertainty. Companies that diversify their operations and remain adaptable are better positioned to weather geopolitical challenges.