News / Exciting News for Small Businesses: A boost in Apprenticeship Funding
We are thrilled to share the latest update from the Government – an additional investment of £60 million to enhance apprenticeships, benefiting small businesses across the nation.
Starting April 1st, apprentices aged 21 and under will be fully funded for small employers as the Government will take on the full training costs for apprenticeships in small businesses, providing a valuable opportunity for individuals to kickstart their careers. This initiative not only relieves financial burdens for businesses but also opens doors for young talents to thrive in their chosen fields.
Moreover, effective 6th April, the government will enhance the funding available for apprenticeship levy-paying employers to transfer to other businesses. This means that large employers can now transfer up to 50% of their funds to support other businesses, including smaller firms, in taking on apprentices. This initiative aims to empower SMEs to hire more apprentices, reduce costs, and equip employers with the skilled workforce they need to succeed, while creating a wealth of opportunities for young individuals across various sectors and industries.
Contact us on 0800 731 8199 for support and further information.