Small businesses will receive more support for Apprenticeships under new rules released by Government , which come into effect in May 2017. Instead of paying a full third of the cost of Apprenticeships, as per current rules, non-levy paying employers those with an annual pay bill of more than £3 million will pay just 10%, with the Government paying the remaining 90%.
This is great news for smaller employers who want to make the most of Apprenticeships but are concerned about making up costs from their often limited training budgets.
There are also positive changes for employers delivering apprenticeships to young people aged 16-18. The current discount scheme will be replaced with a £2,000 incentive payment, evenly split between the employer and the education training provider.
Employers with fewer than 50 staff who deliver apprenticeships to young people (16-18) will no longer receive the £1,500 AGE grant (expiring at the end of the 16/17 academic year) and will instead have their Apprenticeships funded in full by the Government.
These significant changes will really help young people from all backgrounds take their first steps.
Non-levy paying employers - Act now to save 10%