The UK’s Industry strategy 2018 highlights the significant benefit small firms have noticed since the apprenticeship reform in May 2017. They have reaped major benefits through the apprenticeship scheme and highly value the role of apprentices in their business.
With the goal of 3 million new start apprenticeships by April 2020, the government are supporting SME’s now more than ever to grow apprenticeships in their organisation and support business objectives.
Smaller businesses have always had a larger intake of apprentices, with SME’s contributing 99.3% towards all private sectors and a staggering 60% of all private sector employment. However, the unrealistic figure of reaching 3 million apprenticeship starts by April 2020 has put a larger focus on the QUALITY of apprenticeships rather than quantity which has been reinforced through the new Standard introduced in April last year.
The news Standards have been put in place as a way to remove the misconceptions of apprenticeships. Removing the notion that apprenticeships are a way of attaining cheap labour, heavy workload and cost heavy to a vigorous system that supports for both the apprentice AND business needs. To solve this, The Chancellor of the Exchequer introduced a £695 million pay package to help support the new system, especially small businesses!
The benefits to small businesses:
95% government funding for 19yrs +
100% funded for 16 -18yrs
Big corporates can now help fund smaller business by 25%
Incentive of £1000 for taking on a young adult
Mould the apprentice to meet your specific business objective
The new Standards provide a more structured, relevant apprenticeship experience for both employers and apprentices
If you have any questions on apprenticeships and work based training, please contacts us on 01452 751 004 or email us at email@example.com
Alternatively, have a look at the apprenticeships that we offer here