As we all know, developing better skills amongst the workforce is critical to ensuring a more competitive economy. This is especially the case amongst those small to medium sized enterprises (SMEs) that are responsible for the majority of employment in the UK. Whilst research from the Federation of Small Businesses (FSB) show that nine out of ten SMEs recognise this issue and the value of staff training, less than half are actually putting their hands in their pockets to invest in learning and development. Why is the case? Various studies have suggested that much of the training on offer does not consider the requirements of those entrepreneurs running SMEs especially as, unlike large firms where there are various layers of management cushioning chief executives from what is happening on the ground, entrepreneurs play a far more pivotal role in the day-to-day running of small businesses. As a result, the founders of small businesses tend to be directly invo...
Entrepreneurship, innovation and the economy