When I was younger, my grandmother was always able to pluck out a Welsh proverb from thin air to describe any situation. One of the ones she was particularly fond of quoting, especially when I came back home from university, was “Nerth gwlad, ei gwybodaeth” or roughly translated, “a nation’s strength is its knowledge”. As this nation looks set to go through another period of change and uncertainty, that proverb rings truer every day and the importance of the development of skills and knowledge has become even more critical to the competitiveness of the UK economy. The importance of the challenges we face have been pointed out in a number of recent studies. For example, a survey by the Federation of Small Businesses found that, at an owner-manager level, the low levels of management and leadership competences is affecting productivity by having a negative effect on the growth potential of small firms. In fact, only a quarter of smaller businesses had undertaken management tra...
Entrepreneurship, innovation and the economy