New grant encourages SMEs to take on an apprentice
16/11/2011
Apprenticeships help employers gain the skilled workers they need to grow
Business Secretary Vince Cable has announced new measures to ensure more young people benefit from an apprenticeship, and to help employers gain the skilled workers they need to grow.
As part of the Government's plan for growth, the Business Secretary announced the Government is slashing the red tape that can deter hard pressed firms from taking on apprentices, and provide financial incentives to help the smallest firms recruit their first young apprentices.
By offering employers with up to 50 employees who don't currently employ an apprentice an incentive payment of up to £1,500 to take on a young apprentice (aged 16 to 24), the government hopes to support up to 20,000 new apprenticeships in 2012/13.
Further plans include simplifying the process of taking on an apprentice and ensuring that apprentices gain English and Maths skills up to good GCSE standard during their training.
Business Secretary Vince Cable said: "The apprenticeships programme is a success story, with record numbers of learners starting an apprenticeship this year. They are proven to boost the life chances of young people, and are a sound investment in our future competitiveness. So when times are tough, it's right that we provide additional support to help the smallest firms meet training costs."
Research shows that every pound of public investment in an apprenticeship generates up to £40 for the wider economy; improvements in productivity ensure employers recoup their training costs within three years; and an advanced apprenticeship boosts an employee's lifetime earnings by around £100,000.
Locally, the number of people doing apprenticeship courses in Crawley has increased from 450 to 760 in the past year, and there has been a 58% national increase in the number of apprentices since 2009/10.
To find out more about the grant and how Central Sussex College can help you recruit and train your apprentice, call 0845 155 0043 (press 4) or email employers@centralsussex.ac.uk.
