Financial stress is one of the biggest drivers of mental health issues in the UK, according to Carla Hoppe, CEO and Founder of Wealthbrite, an organisation that provides financial skills training in the workplace.

Carla was speaking to Martha Lane Fox, CBE, Chancellor of The Open University (OU) and President of the British Chambers of Commerce, in the second podcast in the OU’s recent series discussing business and skills and the findings of the latest Business Barometer report.

Carla says the financial worries reported by many employees leads to high levels of stress, anxiety, lack of motivation and sleepless nights, all of which can impact on their performance at work.

Very few people learn about financial management at school. “That means there are millions of young people entering the world of work every year who really don’t have a strong grasp on the basics of money management,” said Carla. She would like employers to offer financial training, particularly to new starters, to help them with personal finance and to improve their commercial acumen.

SMEs need to be more proactive about addressing skills

This first podcast features Baroness Martha Lane Fox, CBE, Chancellor at the OU and President at the British

“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

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.