Training requirements for small firms - commercial mortgages

01 June 2009

Many businesses - some of which will have recently secured commercial mortgages for their workplaces - are unaware of the training opportunities available to them, according to the Federation of Small Businesses (FSB).

Some 88 per cent of respondents to a FSB survey indicated that they had not taken up an offer to develop staff through the government's Train to Gain programme.

Lots of the companies questioned in the research did not know they were eligible for subsidised training schemes, which may give them extra funds to pay off commercial mortgages.

There must be a small business sector skills council to help focus on the requirements of small firms, the FSB remarked, which would include issues to do with training and development.

Colin Willman, FSB education and skills chairman, said: "The government must start to recognise the needs of the country's smallest businesses, especially during this crucial time when firms need to be investing in skills and training so that they can emerge stronger as they pull the economy out of recession."

It is an economic crisis that has seen commercial property values decline by 42.7 per cent since the market peaked in 2007, according to a recent report by CB Richard Ellis.

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