As part of a drive to boost apprenticeship numbers, the government is offering small businesses £1,500 in a bid to encourage them to employ 16-24 year olds on Higher Apprenticeship schemes.
With this week being National Apprenticeship Week, it was no coincidence Prime Minister David Cameron chose Monday to announce a number of funding schemes aimed at helping businesses take on more apprentices.
In particular, employers will be able to bid for a share of a £6 million Higher Apprenticeship Fund which is part of a larger £25 million fund which was first launched in July 2010. Employers will be able to apply for part of this funding from Monday 13 February 2012 where they intend to offer apprenticeships in any of the following areas:
Despite the total number of unemployed 16-24 year olds being estimated at 1.04 million (22.3% of the total age group) – and this figure is continuing to rise – the Department for Business, Innovation and Skills has announced a 64% increase in the amount of people starting apprenticeships in 2010/2011 compared with the previous year.
There is no doubt this dramatic increase is partly due to the range of funding schemes available through the government, but it also shows the growth in popularity of apprenticeships among both employers and employees.
During the first stage of the funding scheme, launched in 2012, £19 million was awarded to over 250 employers and this helped to create 19,000 degree level apprenticeships.
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