Current vocational education and training (VET) policy in the UK is predicated on the assumption that participation in formal, externally provided training by individuals and organisations is based primarily on an explicit and objective calculation of economic costs and returns. This assumption is in turn founded on models derived from rational choice and human capital theories. A growing body of evidence suggests, however, that the ways in which actors behave within the training market are profoundly affected by social and subjective factors, such as the previous educational experiences of individuals and interactions with institutional environments. In addressing such issues, the paper focuses specifically upon participation in formal training among small businesses in the South Wales area. It provides empirical evidence to support the argument that participation in VET, among and within small firms, is embedded in a complex web of social relations and subjective orientations.
