This Standard Life report further demonstrates the required evolution of SMEs and what our future entrepreneurs will need to embrace.

Evolution in working practices and company culture will take place but above all it is clear that empowering your team is a key driver of success.

This is not new, unique or revolutionary but is clearly something that the businesses of yesterday, today and tomorrow must understand to develop.

Ask any successful entrepreneur and they will tell you that they made their money because of the team that they built around them. Successful football managers take their management team with them when they move clubs so why should it be in any different in business.

Build a team, empower them and grow your business!