Importance of management training identified

The Chairman of the Small Firms Association, Dr Aidan Boyle, in a recent meeting with the EU Commissioner for Enterprise & Employment, has identified the importance of management training in the current economic climate.

'With Irish GDP due to fall this year by 4.5 to 5% and job losses escalating by the day, we need to focus in a really meaningful manner on trying to keep people at work. Many owner managers of small businesses have set up in the Celtic Tiger years and have no experience of managing their business in such an economic downturn. Even during good times, 40% of small businesses fail during the first 5 years.'

'The OECD estimates that the primary reason for this is the lack of management capacity. The EU and the Irish Government should substantially increase funding in this regard, to ensure that managers have the skills necessary to stabilise and grow their businesses and thus secure the jobs they provide,' stated Dr Boyle.