Lancaster University Management School (LUMS) to train UK SMEs for free

The recent pandemic has added to the existing challenges faced by businesses across the globe. In an initiative that aims to provide some relief to small businesses in the country, the Lancaster University Management School (LUMS) is delivering the Small Business Leadership Programme (SBLP), a 10-week free training programme.

The SBLP programme is supported by the UK Government Department for Business, Energy, and Industrial Strategy and will provide training for senior leaders in small and medium-sized businesses (SMEs) in the UK and is part of a £20 million package the UK government is providing to support SMEs in the country.

The programme will provide SME leaders with the skills and know-how that will support the recovery of these businesses in the present climate.

Its syllabus is crafted by entrepreneurs, business leaders, and academics from LUMS and will provide SME leaders with practical solutions. It will also connect business leaders with small business and management experts from some of the UK’s leading business schools.

The SBLP will not only help businesses build resilience but will also support their future growth. This will be accomplished through the creation of peer groups to develop stronger leadership, innovation, operational efficiency, marketing, and finance.

The programme is made of eight 90-minute webinars, alongside independent and peer-to-peer learning, all designed to support and fit in with day-to-day business delivery.

Through this programme, SME leaders will also develop the vision and values for their business to ensure long term sustainability.

The programme achieves this by guiding leaders to explore their leadership style and to understand their business culture which will then help them tap into the strengths of their workforce.

SME leaders who complete the programme will be able to outline a strategic approach to operations management, efficiency, and value creation in their business through the adoption of new technology.

This translates to improved business productivity and resilience as SME leaders build stronger management and leadership skills.

The programme also focuses on providing business leaders with the skills to assess employee engagement and identify the right actions to achieve high performance.

SME leaders are also set to gain from the confidence boost that this programme provides them, resulting in better decision-making, improved business performance, and overall effectiveness.

Senior Lecturer in Entrepreneurship and Strategy in LUMS, Dr Danny Soetanto said that there is a strong need for businesses to be flexible, to network, to be innovative, and to try to explore and exploit new opportunities.

“New type of companies or entrepreneurs will emerge and may dominate the industry – entrepreneurs who can identify an opportunity will benefit,”

Soetanto added, “Training and programmes like the SBLP bring new perspectives and ideas. We can learn from others who are in similar situations, and that is one of the simple strategies in innovation. Taking part in the programme will allow businesses to acquire new knowledge and build new contacts which will be important moving forward.”

Programme Leader for the Small Business Leadership Programme at LUMS, Paulette Swindell said that the experts at the business school are keen to use their knowledge of marketing, consultancy, and formal planning to guide businesses across the region through the challenges caused by the national lockdown.