They know nothing

Many UK business managers are clueless when it comes to understanding finance, according to a survey.

The poll, by online market research company YouGov, found that 68% of all managers surveyed said they had received no formal financial training.

The figure was higher for respondents in the Midland and Wales, where 76% said they had had no formal instruction in financial matters.

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Fifty per cent of those polled manage annual budgets of between £25,000 and £1m.