A "worrying" number of small companies in London are missing out on government money to pay for training, according to new research.

Ixion Holdings says the poll reveals that 71 per cent of SMEs in the capital have lost out on at least £1,500 available to them to invest in developing their employees.

And the not-for-profit organisation – a member of the London Brokerage Consortium – is urging SMEs to respond more positively to contact from government-funded brokerage services to make sure they get the funding that’s available.

The poll was conducted on behalf of Ixion among 150 employers in London and the East of England. Eighty one per cent of respondents had carried out some form of staff training in the past but 71 per cent had not taken any positive steps to secure the government funding of at least £1,500 that’s available to them.

Ninety six per cent of the respondents said they wanted to learn more about government-funded schemes such as Train to Gain.

Ixion CEO Graham Baker said: “In an increasingly challenging business environment, investment in training is critical. These are worrying statistics – businesses must realise that they can benefit from government funding available and have access to appropriate training to enhance their business and, in turn, increase their competitive advantage.”

The research highlighted the responsibility that SMEs had to be proactive in accessing government funding, by contacting organisations such as Ixion to ensure they got help in finding, and benefiting from, the support to which they were entitled.

Baker added: “Businesses should understand that government-funded services such as Business Link and Train to Gain are in existence to help and advise them on business growth and workforce development training. This support is particularly important given the current economic climate, in which a trained workforce can give a competitive edge.”

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