Small and medium-sized enterprises (SMEs) are the backbone of the economy, accounting for 99.8% of the business population and providing three-fifths of private sector employment. To maintain competitiveness and drive growth, it is crucial for small businesses to invest in employee training and development. The development of yourself and your people is your biggest power! […]
Sign up for expert insights, exclusive member offers and priority event booking
Contact us to find out how we can support you.
Copyright © 2025 CH4B LTD. All Rights Reserved
Designed & Powered by Use Brandable
We are a Business Success Community offering something different, providing a trusted and ethical environment where a business owner can access anything they need through their dedicated business advisor.
Small and medium-sized enterprises (SMEs) are the backbone of the economy, accounting for 99.8% of the business population and providing three-fifths of private sector employment. To maintain competitiveness and drive growth, it is crucial for small businesses to invest in employee training and development. The development of yourself and your people is your biggest power!
Content Directory
The current state of training in SMEs
Recent data reveals a positive trend: 45% of SME employers have arranged or funded training in the past year, marking a consistent annual increase since 2021, according to the Department for Business and Trade. However, this also indicates that over half of SMEs have yet to prioritise employee development, potentially hindering their growth prospects.
Why should your SME invest in training?
> To address skills gaps and recruitment challenges
A significant 79% of employers have identified skills gaps within their organisations over the past 12 months, with larger SMEs (100-249 employees) reporting this at an even higher rate of 85%. This shortage is particularly evident in areas such as technology and artificial intelligence. Moreover, 68% of UK SMEs struggle to find recruits with adequate competencies.
CH4B Tip: Identify knowledge gaps within your team from a management perspective, and gather employee opinion too. Start by addressing training needs that affect several staff members, and then look into providing niche requirements.
> Enhance performance and improve job satisfaction
The demand for professional development is clear among employees, with 82% expressing a desire to upskill (according to AICPA and CIMA). Not only does addressing training requirements enhance individual performance, but it also contributes to job satisfaction. Investing in employee development is an excellent way to show appreciation, and ensure employees feel valued.
CH4B Tip: Categorise training requirements. What is essential for the business operations v’s what would employees like to learn more about? Put together a schedule that balances business need and employee requests.
The Bank Of Knowledge: Empowering SMEs through Training
Recognising the critical role of training, CH4B is proud to partner with The Bank Of Knowledge, a valued Expert Partner dedicated to enhancing skills within SMEs. The Bank Of Knowledge offers a comprehensive suite of training solutions tailored to the unique needs of small and medium-sized businesses. Their offerings include:
Upskill and earn rewards through The Bank of Knowledge
When you get started with The Bank of Knowledge you will also be granted access to your own dedicated rewards platform. For every course you invest in via The Bank Of Knowledge you will receive a percentage of your spend back by way of reward points which can be redeemed in multiple ways via your dedicated rewards platform.
Conclusion
Investing in employee training is a necessity for UK SMEs. By addressing skills gaps and fostering a culture of continuous development, businesses can enhance productivity, improve employee satisfaction, and secure long-term success. Partnering with organisations like The Bank Of Knowledge ensures access to quality training resources, and provides flexibility to SMEs with rapidly changing needs.
If you’d like to find out more about how CH4B and The Bank Of Knowledge can support your business, book a complimentary call at a time that suits you:
