business mentoring

Modern-Day Mentorship: How it Can Help Your Small Business

Modern-Day Mentorship: How it Can Help Your Small Business

Once deemed as necessary to achieve successful career growth, the concept of a mentoring programme hasn’t really changed over the years; yet still we find many businesses no longer using them. In the past, a hierarchy system was the norm; however, in this day and age, our approach to forming new relationships with other business professionals has changed. Be that as it may, at CV-Library, our recent survey revealed that 94.1% of UK workers still believe that having someone they can receive guidance from is beneficial to career progression. Yet, less than a quarter of employees have actually been offered any form of mentoring by their employer, indicating this is no longer a priority to businesses. So if mentorships aren’t what they used to be, why are they still relevant in today’s world? ... »

Why Every Small Business Owner Should Spare Time for a Mentor

Why Every Small Business Owner Should Spare Time for a Mentor

In a business mentoring relationship, a seasoned business owner meets with a new or potential business owner one-on-one to give advice, focus objectives, or simply boost morale. The relationship can be a paid arrangement organised through a business support group, or free advice from a local business expert. Either way, there is strong evidence that mentoring hugely benefits small businesses: 70% of small businesses that receive mentoring survive for 5 years or more, which is double the rate compared with non-mentored entrepreneurs Small businesses that receive mentoring are 20% more likely to experience growth than those that don’t (Figures from the Small Firms Enterprise Development Initiative) However, despite these encouraging statistics, surprising evidence has emerged recently that r... »

Business Mentoring is Different to Business Advice, says ACCA

www.mentorsme.co.uk scheme welcomed by ACCA’s SME Committee SMEs can benefit but expectations of mentoring’s success need to be managed carefully Following the launch of a business mentoring scheme – www.mentorsme.co.uk – by the government and a number of UK banks on Monday the 4th ofJuly 2011, ACCA’s Small Business Committee publishes a paper that explains the reality of mentoring from the SME’s perspective. The paper offers a number of recommendations that need to be considered during the lifecycle of a mentoring scheme, from distinguishing between what is mentoring and what is business advice, to ensuring that mentors and mentees are perfectly matched. Rosana Mirkovic, SME policy adviser at ACCA says: “Mentorsme.co.uk is a welcome move. The bank... »