In spite of rapid growth in business education, only one-fifth of the 140,000 new managers needed each year will achieve management qualifications.
Business schools and other training providers drew criticism as ‘insufficiently flexible to customise themselves to match organisations’ or individuals’ needs, most notably SMEs, where entrepreneurs have little time or money to attend courses.’
In other business finance news, preliminary results from venture capital group 3i showed a revenue profit after tax of £106m.
In the first half of the year the group saw a loss of £1,097m, which it said was largely due to a fall of £890m in the portfolio’s valuation. 3i invested £1bn included co-investment funds. The second half of the year generated a £137m profit.
Chairman Baroness Hogg said the business has detected improving business confidence among the companies it invests in, and higher levels of investment are expected next year.