What Is The Definition Of A Small Business?
The Government refers to SMEs, ie Small and Medium sized Enterprises, which can cover any sized business with 1 to 250 employees. Obviously at the larger end of the scale, this is a sizeable business. For the purpose of this article we define small business as any company employing between 10 and 100 staff, with the term micro business being used for companies employing less than 10 people.
Barriers To Small Business Training
There can be many reasons why Small Businesses fail to fully embrace training in their organisations, often despite the obvious benefits, but here are some of the most common ones:
Despite all of these problems every small business invests in training in some shape or form. This may include on the job training, or local free training events, often sponsored by business support agencies, but the training is carried out nonetheless.
Overcoming The Barriers To Small Business Training
Small businesses need to be more strategic in their approach to training and include it as part of their overall strategy for growth. This can include:
Although it can be harder for Small Businesses to justify the investment in training, the returns on investment can be much more easily quantifiable. In a difficult market small businesses can move more quickly and respond to opportunities as they arise. If the team are all trained to work to their maximum efficiency, this can result in a rapid return on investment.