£20m management training fund will help small businesses grow

Skills Minister John Hayes today called on senior leaders in SMEs to take advantage of funding that will support leadership and management training to help them grow their businesses.

Around 13,000 small and medium sized businesses and social enterprises that demonstrate a potential for growth will benefit from the Leadership and Management development grant. This will help stimulate innovation and employment, boosting the economy and helping develop a bigger and more cohesive society.

A match funded grant of up to £1,000 can be spent on leadership training and coaching that helps grow the business, improving productivity and competitiveness. The programme also includes a free consultation with an expert adviser before the training commences, as well as a free follow-up to discuss the impact of the training and any further skills needs.

Skills Minister, John Hayes said:

“This Government will back businesses that want to boost their skills. We’re spending more than ever on apprenticeships, freeing up training providers from red tape, and focusing public spending where it is most needed to drive growth. Effective leadership can make the difference between survival and growth, and this fund will give vital support to entrepreneurs who want to continue to develop their businesses.”

Geoff Russell, Chief Executive, Skills Funding Agency added:

“This fund will help many leaders of small and medium sized enterprises grow their business through harnessing the talents of their staff. Skills are critical to the future development of businesses. By offering a helping hand to thousands of organisations we expect to see more leaders develop the skills they need to help their businesses achieve their potential.” 

The fund will be promoted directly to businesses by the regional Leadership and Management Advisory Service and is available starting this month. SME leaders should contact the Leadership and Management Advisory Service, details available through www.businesslink.gov.uk, to book their free personal leadership and management assessment.