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In today's knowledge-driven economy, education and training are considered major factors affecting a society's level of economic attainment and growth. Lack of information-related knowledge and skills, in particular, are among the prime factors likely to delay a country's progress towards the information society. Experience, however, has shown that an educated labour force does not automatically translate into dynamic economic development and technological innovation. The human resource potential is not a simple outcome of the education system but it is a much more complex process that involves tacit knowledge, learning by doing and on-the-job training. This means that skills and knowledge acquired depend not only on the educational system but on firm organisation and culture as well as ties between organisations. The present study examines the relationship between skill supply, firm organisation and learning by means of interviews in 23 firms in Greece. It shows that a major problem faced by SMEs [small and medium enterprises] in peripheral European countries is the lack of in-house capabilities and knowledge which limits the amount and type of learning that takes place. Finally, the article argues that policy-makers should institute educational policies and training programs that will compensate for the inability of Greek firms to provide a learning environment.