New Funding for Employers to Hire Apprentices
Apprenticeships are jobs with training that benefit people of all ages and backgrounds. Due to the coronavirus (COVID-19) pandemic, employers may be facing recruitment challenges. In response, the Government has introduced new payments for businesses taking on apprentices.
Through the scheme, employers in England are being encouraged to take advantage of cash incentives designed to create more high quality apprenticeship opportunities so more people, particularly young people, can kick-start a rewarding career.
The scheme provides employers that hire a new apprentice between 1 August 2020 and 31 January 2021 with a payment of:
£2,000 for each new apprentice aged 16 to 24.
£1,500 for each new apprentice over the age of 25.
Applicants can use the money for anything to support their organisation’s costs. For example, they could spend it on facilities, uniforms, the apprentice’s travel or their salary.
Employers, both large and small, of new apprentices in England may apply. Employers can also get the incentive payment when they hire an apprentice who has been made redundant, as long as they are new to the organisation.
From 1 September 2020, employers can apply through their apprenticeship service account.
More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news and policy. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.