Your Secret Weapon in Growing Your Business
You want your business to grow rapidly – so what is your secret weapon for doing so? More funding? Invest in IT systems? They will certainly help, but we think that your secret weapons are your staff, that is well trained, qualified staff to be precise!
The UK is a great place to start a business, with small to medium enterprises (SMEs) comprising the backbone of the UK economy. From sole traders to small businesses employing a small number of staff, SMEs grow from often very humble beginnings to thriving businesses within weeks or months. A key element for growth is making sure the right management and leadership capabilities are in place, and that these grow in line with your business.
However, Warwick Business School has found that current levels of management and leadership skills are holding back many SME businesses in the UK. Their research found SMEs identify poor management skills, especially entrepreneurial skills, as hampering their growth.
“The UK’s 5.4 million small businesses boast some of the most dynamic and creative business leaders in the world. However, our research demonstrates how greater investment in management skills could significantly benefit start-ups and scale-ups and help them realise their growth ambitions”. Mike Cherry, Policy Director, Federation for Small Businesses (FSB)
Research by the Department for Business, Energy and Industrial Strategy has found that that leadership and management skills are key to driving innovation and high performance working, and can help ensure that organisations adopt the right strategies to boost productivity and growth. They found that best-practice management development can result in a 23% increase in organisational performance, in terms of both high-performance working and business success, and the creation of more sophisticated and higher-quality product and market services.
In the Federation of Small Businesses’ report: ‘Leading the way: Boosting Management and Leadership in Small Firms’, it found that UK productivity is negatively affected by weaknesses in leadership and management capabilities at business level, particularly among small businesses. It reports that small businesses in the UK do not prioritise developing leadership and management skills, particularly at the early stage of growth.
Only a quarter of small business owners were reported to have undertaken specific leadership and management training in the last 12 months and roughly the same percentage of firms have never undertaken such training. Despite almost all (91%) of business owners recognising the value of investing in staff training and development, less than half (43%) said they did so.
This may be because SMEs are unaware of what training is available to them and of the value of this training to their business. As a business grows it may not be able to reach its potential because of the lack of management skills within the organisation.
Two thirds of SMEs believe a lack of leadership and management skills is holding back growth. 68% believe these deficiencies are preventing their employees from reaching their full potential. Federation of Small Businesses
Investing in training your workforce can have multiple benefits for your company. It can build on existing skills that your company already values, it can have a positive effect on staff performance and loyalty, and it can be less expensive than hiring new staff.
According to Forbes, a staggering 98% of managers feel they need more training. So, get ahead of your competition by investing in the leadership and management skills of your employees. Investing in them means investing in the engine that drives your business.
Distance learning training could be the answer for your SME
The cost of providing training was found to be the primary reason small businesses don’t offer their staff a training and development programme. 34% of the businesses surveyed by the FSB indicated that they don’t provide training because they don’t have access to relevant training options in their area.
Distance learning is a viable option for management and leadership training for SMEs, where owners are keen to improve their own business management and leadership skills, or if they want to invest in training and development for their employees.
The flexibility, one-to-one support and financial benefits of distance learning make it an increasingly compelling option for SMEs, when training can be undertaken, no matter where a business is located.
Benefits of distance learning with Brighton School of Business & Management
The Brighton School of Business and Management (BSBM) has built a reputation for delivering high quality distance-learning Leadership and Management courses, with high quality support and guidance, which results in high pass rates, as well as contributing to successful career progression for students.
Our SME core Management and Leadership Training programmes address the needs of enterprising managers and leaders in SMEs. Our programmes are accredited by the Chartered Management Institute (CMI), which is the UK’s only chartered professional body dedicated to raising standards of Management and Leadership across all sectors of UK commerce and industry.
The key benefits to SMEs in choosing a BSBM distance-learning course are:
1. Flexibility in studying
SMEs particularly value the fact that our type of training fits in well with the unplanned demands of working life. When your business is small, this means staff must often be more flexible and willing to take up the slack in different parts of the organisation than they would in a larger office. Our distance learning courses mirror this approach by allowing participants to access information as and when they can.
From a business point of view, distance learning also enables your employees to undertake further training with minimal impact on the day to day working of your company – unlike sending staff away on training courses for days at a time. The value to your company in increased learning from undertaking these courses is one thing, but time out of the office, even for a few days, can be really disruptive – especially in a small business.
2. Our high level of support
People perceive they will lack any support if they undertake distance learning. That could not be further from the truth at BSBM, where we offer individual support from a Tutor and review a student’s progress continually. Students can communicate with their Tutor directly via Skype and email.
3. A truly affordable training option
One final, but very important, advantage to choosing BSBM distance learning is its cost-effectiveness. We understand that this is very important for SMEs, and means your staff can access the same kinds of higher level learning opportunities as with larger companies, but at a fraction of the cost, and with no travel costs or time.
Affordable, flexible, comprehensive, fully supported, distance learning with BSBM is the perfect way that SMEs can contribute to their staff skill base and enhance their career progression, without having to pay for it with too much time or money.
So – maximise the value of your secret weapons in growing your SME, with leadership & management distance learning from BSBM
GBS Corporate Training: Flexible, bespoke, accredited programmes
GBS Corporate Training, a sister company within the GBS Corporate Training Group, offers flexible programmes created specifically for your organisation. GBS will tailor course content to accommodate your unique business needs or to address skills shortages in your organisation. Through this approach, you can be sure your employees are gaining new knowledge and skills that will be relevant to your company.
GBS is an approved training provider for the Chartered Management Institute (CMI), the Institute of Leadership and Management (ILM) and the Chartered Quality Institute (CQI). In fact many of our solutions can lead to a person having Chartered status.
We listen to our clients carefully and so are able to support them to achieve real behavioural change in a business world that is constantly changing and where what we need to learn, when we need to learn and how we like to learn is also constantly changing. When the business world demands a new skill, GBS is able to provide the development.