In the wake of suggestions that the UK economy might now be in recession comes news that the government is promising help for small and medium-sized businesses (SMEs).
Apparently small firms are to get £350m in aid, but how that will happen is a little unclear. Skills secretary John Denholm said that as part of the package the government will pay its bills more quickly – hardly a case of new money being made available to SMEs!
However, they should also be able to get help with staff training, following research which showed that firms which invest in staff training were better equipped to survive a recession.
Staff training was “demonstrated to improve profitability and make the company more profitable”, said Denholm. “We think that will help hundreds of thousands of people to get skills which are proved to pay back to the companies they work for.”
It is heartening that a government minister acknowledges that Return on Investment in training really can be measured in real financial terms.
The Fuse Learning Evaluation and RoI in Training Clinic already shows our clients how to do that! As the need to justify expenditure on training becomes more imperative, more and more of our clients are taking advantage of the Clinic to enable them to evaluate and measure the effectiveness of training they commission.
Visit the Fuse Learning website: www.fuselearning.co.uk
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