Is management training the key to small business success? This study explores the factors influencing management training and development (MTD) investments in small businesses. A survey of 551 small businesses in the UK Midlands identified key influences on MTD investment, preferred activities, and the perceived link between MTD and business success. Organizational characteristics such as ownership, size, number of managers, and family management significantly impact MTD investment. While most businesses recognize the link between MTD and success, they seek customized training. Promoters of MTD must acknowledge the diverse needs of small businesses and tailor programs accordingly. This research provides actionable insights for promoting effective management practices in the small business sector, ultimately contributing to their growth and sustainability.
Published in Employee Relations, this study aligns directly with the journal's focus on the dynamics of employment and management practices. By investigating the factors that influence management training and development in small businesses, the research contributes to the broader understanding of employee relations and human resource management, which are core areas of interest for the journal.