An independent paper published in June 2026 by the Department for Business, Innovation, Science and Trade (formerly the Department for Business and Trade) reported that on the Help to Grow: Management Course, mentoring was:
“consistently the highest rated element”.
Yet it also reported that only 37% of solo founders have worked with a mentor. Why might this be? Is it that solo founders have so much to do they do not have the time to search for a mentor? Is it that they do not know where to look, or what to look for?
What to look for is answered by a previous 2022 report where the top three attributes most sought in a mentor were:
1. Life experience (61%)
2. Knowldege of the areas the mentee requires (58%)
3. Relevant sector experience (43%).
The advance of AI might have a bearing on where to look in 2026. Points 2 and 3 could be researched in AI by being specific about criteria and questioning, however, point number 1 cannot. AI does not have life experience. AI does not have lived experience. A real life mentor does, they can listen and use their experience and knowledge to suggest and support. A one-hour conversation with your mentor can save you hours of internet or AI research.
It also appears that small businesses with less than 5 employees have least access to mentoring. This doesn’t have to be the case, as a small business owner myself I have hugely benefitted from mentors over my career. Investing time and resources is a critical factor for a small business owner, so they need to know they are placing time, energy and trust in someone who will offer quality mentoring.
What do you need to look for in a mentor? The report made three recommendations.
1. Life experience
2. Sector experience/knowledge
3. Support offered for Continuing Professional Development (CPD).
Research mentoring and you will begin to see the benefits of having an experienced sounding board is invaluable. Running a solo or small business means all the decisions are yours to make, who wouldn’t want a trusted and experienced advisor by their side?