Money up for grabs! Government to fully fund small business apprenticeships
Hot on the heels of last weeks government announcement, now’s the time to benefit from levy transfers and sign up young apprentices!
In a major package of reforms to support small businesses, yesterday’s first economic speech by the PM since the Spring Budget includes:
- More levy money to support small businesses
PLUS
- Fully funded apprenticeships for small businesses for anyone up to the age of 21
Here’s what it means from 1st April 2024:
- Less red tape for one thing. Under the new measures, large employers who pay the apprenticeship levy will be able to transfer up to 50% of their funds (currently they can only transfer 25%) to support smaller businesses to take on apprentices. For more information on how to utilise the levy, see our new updated Levy Handbook
- The Government will fully fund apprenticeships in small businesses by paying the full cost of training for apprentices up to the age of 21. For further information, see our new updated Pocket Guide to Apprenticeships.
- HIT Training welcomes this £60 million new investment to enable up to 20,000 more apprenticeships for young people and small businesses.
It marks a significant step forward in reducing costs and burdens for businesses and delivering more opportunities for young people to kick start their careers.
Click here for latest information about ways to access this new funding or feel free to contact us for advice at info@hittraining.co.uk or 0800 093 5892.
We’re here and more than happy to lend a hand.
HIT Training
