COST OF APPRENTICESHIP PROGRAMMES CUT IN HALF FOR SMALL BUSINESSES
The chancellor announced this week that the co-investment rate for apprenticeship programmes, paid by small employers, is to be cut from 10% to 5%.
This will also apply to levy-paying employers when their levy pot is empty.
What does this mean for your Service?
Were £300 +VAT - now £150 +VAT
Was £200 +VAT - now £100 +VAT
Was £400 +VAT - now £200 +VAT
Was £450 +VAT - now £225 +VAT
The cost is split into small monthly payments, which you pay direct to the training provider. Many other apprenticeship programmes are available, ask us about the right ones for your workforce.
Apply now - funding is limited!
Training providers are already running low on funding for small businesses, and with demand expected to increase thanks to the cut in cost we recommend that you apply as soon as possible.
Complete our application form today.
Other financial incentives are available:
- If the learner is under 25 years of age, you will not have to pay their National Insurance contributions during the 12 months+ they are training - potentially saving over £1,000
- If the learner earns less than £15,736.50 annual gross salary they may quality for full funding i.e. no cost to you for their training