SMALL businesses throughout Cumbria are set to benefit from a £9.5 million education programme.

The University of Cumbria has been selected to deliver the Leading Enterprise and Development (LEAD) course aimed at businesses with less than 20 staff.

Experts from the university’s business school will be working with 125 owner-managers of companies across the county over the next three years on the scheme that is being bankrolled by £9.5 million of public cash through the Northwest Regional Development Agency.

Business leaders will be taken through a ten-month programme that will be run from various University of Cumbria campuses, including Ambleside.

The LEAD programme was piloted by Lancaster University, and Professor Steve Kempster, head of the University of Cumbria’s Business School, was instrumental in its development.

“We are delighted to be able to offer the LEAD programme to businesses in Cumbria,” he said. “The school is already working hard with the business community to help and support their efforts for the local economy. Our projects are benefitting hundreds, helping them improve their key skills and developing their potential. One of the university’s strategic roles is to support business and entrepreneurship and this programme will play a crucial part in delivering that.”

The programme involves group activities, masterclasses, coaching sessions and exchanges and is said to improve sales, staff productivity, and management decision making.

Research suggests the investment in the programme is likely to result in a boost of around £95 million to the Cumbrian economy.

“The LEAD programme has already been thoroughly evaluated by Newcastle University and shown to be a great success with a clear return on investment in the region of £10 return for every £1 invested,” said Prof Kempster. “It gives owner-managers the opportunity to focus on the growth, profitability and success of their business and will be a great help to many SMEs across the Cumbrian economy.”

The pilot scheme involved 150 businesses over five years and research showed that 90 per cent of owners that took part reported an average annual sales increase of £200,000.

Steven Broomhead, chief executive of the NWDA, said: “Organisations have recognised leadership and management as a priority to enhance productivity and competitiveness, and over the last 20 years have devoted substantial resources to this.

“Engagement by small and medium-sized enterprises is often limited by time and financial constraints, however, better skills at higher levels drive leadership and management, which are the key drivers of growth and profit.”