New research from the Forum of Private Business (FPB) has highlighted the need for a rethink of training in the workplace.
The PFB says owners and managers of smaller firms are overly-burdened with excessive tax and regulation and therefore find it difficult to pass on their skills to employees.
A survey of 600 owners of smaller businesses showed that tax incentives could be a potential solution, with more than 70% of respondents answering yes to the question: “Should there be a tax incentive for employees who do not have professional qualifications to continue their professional development?”
Chief Executive of the FPB, Nick Goulding, said that tax incentives would allow employees to capitalise on the skills of their employers without hitting them in the pocket: "Owners of smaller businesses are highly capable individuals whose knowledge and skills are a tremendous resource. They are eager to pass on their knowledge to others and the Government ought to be capitalising on this.
"The problem is that the practicalities of running a smaller firm, including the masses of regulation and red tape, often get in the way. A tax incentive is the ideal way of reducing the pressure on employers’ time, and promoting the idea of development to employees."
