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The government has invested £20 million into a new training fund, namely the Leadership and Management development grant. The fund will be available to approximately 1,3000 small businesses with the potential to develop and grow, providing a boost to the economy.

A small or medium size business that qualifies for the grant can expect to receive up to £1000 in order to invest in leadership and coaching skills. As effective leadership can help a company to develop, the government is eager to encourage businesses to invest more in leadership training, which will improve the competitiveness and productivity levels. The government is also investing heavily in apprenticeships, while removing much of the bureaucracy which hampers training providers.

The Minister for Skills, John Hayes said:

“Effective leadership can make the difference between survival and growth, and this fund will given vital support to entrepreneurs who want to continue to develop their businesses.”

The development of skills will help companies to grow their businesses and harness the skills of employees. This will encourage higher productivity levels and competition amongst business. A business that is considering applying for the grant should speak to their accountant, discussing how the grant could utilised to achieve maximum results. Low cost accountants will deal with administration, ensuring the smooth operation of your business while you concentrate on the development of staff. Online accounting simplifies the process of preparing for end of year accounts, keeping to relevant deadlines and staying ahead of legislation changes, leaving you free to undertake training and development.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

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