Home > Company News > Apprenticeship cash boost means up to £3,000 extra for businesses taking on apprentices
Apprenticeship cash boost means up to £3,000 extra for businesses taking on apprentices
Posted on: 10/06/2021
It’s an exciting time for businesses looking to take on new apprentices, as the previously announced cash boost to the apprenticeship incentive scheme became available to claim from 1st June. The Bournemouth & Poole College already works with around 2,000 businesses across Dorset and the surrounding areas, and can see the great potential of this cash boost to businesses.
This incentive, part of the government’s Plan for Jobs, sees employers of new apprentices become eligible for up to £3,000 extra cash for new apprentices taken on before 30th September 2021. Employers are free to choose how to spend the cash, and many decide to put it towards the training, travel or uniform costs for the apprentice.
The benefits of apprenticeships for businesses are well documented. In fact, the National Apprenticeship Service state that the average apprenticeship improves productivity by £214 a week. It’s common for apprentices to continue in employment after completing their qualification, in turn reducing staff turnover too.
Modern apprenticeships don’t just cover traditional trades such as plumbing and bricklaying, they now cover emerging roles in areas such as Digital Marketing, Electronic Engineering and Cyber Security. With this new incentive for businesses, The College expects to see more and more businesses in varying sectors looking to bring on apprentices.
As a business, you might be wondering how to make the most of this opportunity. The Bournemouth & Poole College offer a dedicated, supportive team that take the time to understand your business’ needs, with training that is tailored to fulfil your requirements. As part of this, The College can advise on what exactly this cash boost could mean to you – in short, you could receive up to £3,000 in additional payments for taking on a new apprentice.
If you’re thinking about taking on an apprentice and would like to discuss this further, contact The College’s dedicated apprenticeship team on 01202 205500 or at [email protected].
Did you know, Dorset Chamber Members can
submit news free of charge?
Submit your news