The largest barrier to growth for UK SMEs is a lack of talent in the workforce, according to a British Insurance Brokers’ Association (BIBA) survey.

About 46% of SME owners, directors and managers cite a lack of skilled workers as their main obstacle. Next on the list of concerns is government red tape (43%).

About 26% of bosses from companies with 10-49 employees say availability of credit is a barrier to growth. The study, conducted by Populus, shows lack of credit mostly affects businesses with lower turnover: 30% of SMEs with annual turnover below £1 million ($1.93 million) say it is an issue.

In its manifesto for this year, BIBA calls on the Government to back apprenticeships and urges schools and careers advisers to highlight insurance apprenticeships.

“We want to do everything we can to help SMEs overcome barriers to growth, and that is why we have included these issues within our manifesto,” CEO Steve White says.