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Monday 26 September 2016
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Increased training for small businesses

Increased training for small businesses

Small businesses are increasingly focusing on training staff for future business growth rather than replacing lost skills, a survey has shown. 

Research from the Forum of Private Business (FPB) shows an increase in the amount of growth-related training. 

Compared to last year, there has been a 5% growth in training to build capacity, and strategic skills training has almost doubled, from 16% to 28%. 

However, the number of businesses engaged in efficiency training and skill replacement fell by 9% and 15% respectively. FPB believes this is due to fewer redundancies and a more stable workforce. 

However, some respondents reported a number of barriers to training and skills development. FPB believes this indicates that not all businesses were able to take advantage of the improving economic conditions. Nearly a quarter highlighted time as a major barrier to skills development and about 20% noted cost.

FPB chief executive Phil Orford said: “Getting the right skills for your businesses is imperative for any firm to grow. 

"Small businesses have faced tough conditions over the past five years but this report suggests they are beginning to lay the foundations for renewed growth.”