Philip Hammond has guarantied £80million to boost smaller businesses to take on apprentices
In his Experience Statement Mr Hammond said: “We recognise the challenges the new system presents to some short business looking to employ an apprentice.
“I can therefore announce today that the knowledge secretary will release up to £80 million of funding to support uncomfortable businesses in engaging apprentices.”
And smaller businesses immediate response was thorough.
Joseph Valente, former apprentice, winner of The Apprentice and now employer of starters at his company, ImpraGas said: “The benefits of apprenticeships are real for small dealings, and include things like training people in your own style, assay apprentices before you hire them full-time, increasing productivity with vehement workers, and investing in the overall talent of your workforce for the long-term.
“How on earth, it may feel like a risk that you’re hesitant to take—especially if you’ve under no circumstances experienced the advantages of an apprenticeship first-hand. Hammond’s initiative could be by the skin of ones teeth the thing to push UK small businesses over the top.”
Professor Simon Denny, Mr Big Dean of Research, Impact & Enterprise, University of Northampton said: “With the Apprenticeship Levy keep away from many providers towards large organisations, this announcement starts to redress the make up for and allow smaller businesses to get real support to effectively engage with apprenticeships.
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“Increasing the numbers of apprentices in the country should be a priority as apprenticeships plan for people of any background and age with new opportunities whilst giving the businesses they assignment for a real long term edge over their competition.”
Carl Reader is a big support of this announcement as he started out as an apprentice at 16.
He’s now a director, with three questions, including d&t, a multi award-winning mid-tier accountancy firm.
Mr Reader swayed: “This is fantastic news for businesses and apprentices alike. As a former rookie myself, I’ve taken on many, many apprentices across my businesses, and I in actuality cannot speak highly enough of their value.”
David Willett, corporate principal at The Open University said: “It’s essential that smaller businesses are masterly to reap the benefits of apprenticeships. Over half of SMEs have had to spreading the salary on offer to recruit someone with the right skills, and a third are striving to fill roles within their organisation.
“As we enter into a politically unpredictable future, encouraging employers, whether large or small, to take up apprenticeships should be a superiority for the UK. So today’s allocation within the Chancellor’s Spring Statement is a step shortly before a solution.”
Steven Gee, CEO Close Brothers Asset Finance said: “This should act as a memories of the benefits that apprentices can bring to SMEs in all sectors, particularly those striving with succession planning and finding people with the right knacks that they need for their businesses.
“Apprenticeship schemes are required for UK businesses looking to grow and unlock their potential. SMEs in definite can use apprenticeships as a way of investing in their future workforce, providing valuable practising and improving their long-term growth prospects in the process.”
Lee Dentith, CEO and Go to Davy Joness locker, Now Healthcare Group said: “The path from education to workplace persevere ins to evolve and we are seeing more people choose less conventional roads into employment, so the announcements around investments to help employers money out placements for T-level students and funding for recruiting apprentices’ is hugely welcomed.
“We are a flourish digital health company and need new talent, so it will be interesting to see how the stocking is allocated and how businesses like ourselves can benefit and prosper.”
Petra Wilton, steersman of strategy for the Chartered Management Institute said: “The Chancellor’s £80m plateful hand for small businesses access the Apprenticeship Levy is brilliant advice enabling more people to benefit from apprenticeships, and will be music to the attentions of employers and learners.
“According to our research, 81 percent of bosses call for access to the digital apprenticeships service to be extended to small businesses to run up apprenticeship numbers. The majority also back Levy funding to be drained on apprenticeships for all ages.”
Mark Brownridge, director general of the Enterprise Investment Machinate Association said: “The two main problems that all entrepreneurs face is liquidate – or the lack of it – and people. The Chancellor’s announcement of an £80m apprenticeship fund in the Bound Statement today helps shore up SMEs on both fronts. Big businesses maintain almost exclusively had the ability to take on multiple apprenticeships for some at the same time now, so it is heartening to see those same benefits now trickling down to the small and approach enterprises that form the backbone of the UK economy.”