Training

More than two in five (41%) of small and medium-sized enterprises do not provide management training, according to Close Brothers Asset Finance.

This comes despite an overwhelming 83% of SMEs believing that strong leadership helps to drive business success.

Close Brothers's Business Barometer also found that three quarters of SMEs across the UK believe they need strong leadership at all levels a business. And only one in ten (12%) said that leadership is a quality that only senior people should have.

The results also revealed that only two fifths (42%) of SME owners across the UK received appropriate levels of either on the job or formal leadership training in their career. This is compared to under two in five (39%) who say they did not receive the appropriate leadership training but still became business owners.

Mike Randall, CEO of Close Brothers Asset Finance said: “It comes as a surprise that a significant amount of businesses do not offer management training, despite a firm belief that leadership is linked strongly with success. Leadership is a quality that helps direct, motivate and inspire others and it must be taught across all sectors of business.

“An effective leadership training programme will most certainly help in creating a winning atmosphere within any business. Those who have responsibilities for managing others need to be properly trained in order for their business to run smoothly and increase the chances of success."