Did you know that non-levy payers and small businesses also get funding for apprenticeships? You will pay just 5% of the cost of educating an apprentice as a smaller employer; the Government will cover the remainder up to the funding band limit.
In addition, if you recruit an apprentice under the age of 25 who has an education, health or care package offered by their local authority or has been in their care, then the Government will cover 100% of the training costs up to the support band limit plus you will be entitled to £1,000 for recruiting them. Currently there is also a £3,000 incentive for employers who hire new apprentices of any age between April 1st and September 30th, 2021.
If you are part of a larger company’s supply chain, you could receive funding from them. Large employers who do pay the apprenticeship levy have the choice to transfer any unused funds to another employer, this could be you! Talk with training providers, reach out to employers in your sector, or collaborate with regional partners to identify employers that want to pass on their remaining levy funds.
With these funding options in mind, have you thought about the benefits having an apprentice could add to your business? A report developed by the National Apprenticeship Service states that, ‘86% of employers said that apprentices helped to develop relevant skills for the organisation, and to fill the skills gap.’ With another ‘74% of employers saying that apprentices improved products or service quality, and 78%, say that they improved productivity. Apprentices become highly skilled even before they finish their training.’
If you would like to know more about taking on an apprentice then take a look at the Apprenticeships website. We offer Degree Apprenticeships at the University of Chester and we would love to support your apprentice on one of our programmes.
Emily Pegg
Business Engagement Manager