SMEs need to be more proactive about addressing skills challenges if they are to recruit and retain the talent they need in order to succeed. This is one of the key messages from The Open University’s (OU) recent podcast How SMEs can solve skills challenges, the first in a series discussing findings from the Business Barometer report.

This first podcast features Baroness Martha Lane Fox, CBE, Chancellor at the OU and President at the British Chambers of Commerce and Anthony Impey, MBE and Chief Executive at Be the Business.

“To drive growth, you have to tap into the vast potential that we have here and you do that through skills training and development,” said Anthony. SMEs are operating in a very challenging environment, with repeated lockdowns, supply chain disruptions, geopolitical unrest, economic uncertainty, the energy crisis and inflation issues all having an impact. “It’s taken a pre-existing crisis and made it all the more difficult,” said Anthony.

But, Anthony thinks business leaders are more resilient as a result and realise that they need to invest in skills to drive productivity, with an increasing number collaborating with other SMEs and training providers to boost the local provision of skills.