Is a Business Management Course Worth It for SME Leaders?

At the Help to Grow: Management Course we have seen leaders from a variety of backgrounds, experience levels, and with vastly different goals. A common theme that makes a course valuable to leaders is taking time out of their company to learn new methods of making practical changes.

This is a vital practice. 78% of managers in the UK have no formal training, which not only makes the job harder but also impacts employees. In  a study conducted by YouGov and CMI, it was found that 28% of employees had left a business because of a negative relationship with a manager, and 33% said they were less motivated to do their work because of ineffective management.

Richard McManus, Professor of Economics at Canterbury Christ Church University believes that management courses are essential for SME success: “UK and international studies consistently show that stronger leadership and management practices – including clear target-setting, regular performance monitoring, and systematic staff development – are associated with higher productivity and profitability in SMEs.

“Leadership and management courses give leaders the time and structure to review their current practices, test alternatives, and design improved approaches that fit the realities of their own business.”

Different leaders have different goals when joining a business management course. However, there are some benefits that you should expect to get out of a course.

Develop Stronger Leadership Skills

A business management course should give you the tools to manage employees and get them to invest in the mission, vision, and values of the company. This includes frameworks to communicate decisions and goals confidently across the company.

Make Better Strategic Decisions

Being able to forecast with certainty through frameworks such as a business model canvas, triple bottom line accounting, and activity-based costing enables you to make decisions that protect the future of your organisation and maximises your ability to find avenues for growth.

Build Confidence as a Leader

Peer support, frameworks, and a mentor all help you become a more confident leader. Sharing issues and realising that your practices are well-founded can be a huge boost and help you feel ready to take action on thoughts previously left behind in the day-to-day. Additionally, filling in knowledge gaps so you can address every area of your company, from finance to marketing, will give you a fuller picture of how it operates.  

Finding the right business management course requires some introspection. You should identify what you want to get out of a course and use this to guide you through your options. Most management courses will provide details on what topics are covered and what content is included.

A course is an investment, it is worth considering the value you will gain from the course to ensure you’re making the right choice. One way to do this is to try and envision how you can apply the learnings advertised in the course.

Good management helps with retaining staff and keeping employees motivated, and is a key component in growth as well as continuity. Taking the time out can also provide space for new ideas, help you gain new perspectives, and feel confident in acting on new strategies.

At Help to Grow: Management we have seen over 11,000 alumni experience the value of leadership learnings. As a result, 82% of alumni surveyed by Ipsos UK said they felt better supported to make business decisions and 81% said they had a better understanding of the support available to SMEs.

Leaders who have been on our course, have seen a variety of benefits, from becoming less reactive to feeling confident in their practices.

Taking time away from his company to look at frameworks helped Amir Absoud, founder of Upstreamly, create a clearer vision for the future, “It gave me a lot more clarity on how to run a business successfully. It helped me focus on being less reactive and firefighting and be more proactive in shaping the direction of our company and building the right team.”

Time away from the and in a learning environment can also fill in knowledge gaps that lead to profitable ventures. Paul Kenny, Managing Director of Aquatrust, launched new technology in his company, on the back of the advice received on the Help to Grow: Management Course, that led to a 30% increase in turnover: “It’s been inspirational for me. If we don't redevelop ourselves, if we don't rethink our model, then we'll probably see business drop off over time. The course has enabled me to proactively address that.” 

In some instances, a business management course can reassure you that your leadership and skills are the best they can be.  This was the case for Katie Byron, Co-Director of Let’s Verbalise, "It was so validating. I realised a lot of what we’d done had been instinctively right. We did know what we were doing!"

With these comments in mind, business management courses can help you with growth as well as a variety of goals.

If you’re looking to grow your company or be more resilient for the future, then a business management course is for you.

The Help to Grow: Management Course gives leaders the opportunity to get direct mentorship, a peer network, and sessions led by business experts. These sessions cover every element of your organisation so you can learn, refresh, and be confident in your next steps.

If you’d like to find out more about our course, click here.