Cash boost for businesses

Suzanne Slater, Assistant Principal

As the Government announces a new cash incentive scheme to encourage more businesses to hire new apprentices, Suzanne Slater explains more and how to get involved.

“The new incentive is great news and represents much needed support for businesses in what has been an incredibly tough year. The new scheme means that employers taking on a new apprentice can now benefit from a £3000 payment per new hire, regardless of the apprentice’s age.

“While it’s by no means a fix all solution, it does offer all employers an equal level of support and should go some way to help those considering growing their teams by recruiting an apprentice.

“In addition, if the new apprentice is aged 16-18 years old or under 25 with an Education, Health and Care plan, employers could receive an extra £1000, resulting in a total of £4000 per new apprentice hire.

“The scheme is set to last until the end of September this year, meaning any new hire from 1 April until 30 September will be eligible for the new increased payment. “So, if businesses are not quite ready now to hire an apprentice or are keen for training to start in September, they can still take advantage of this offer.

“I would encourage businesses of all sizes and sectors to take a look at this scheme. I appreciate that for some taking on new staff might not be at the top of their to do list right now. However, the enthusiasm, new ideas and talent that comes with new recruits could be just the boost needed.

“My team and I would love the opportunity to speak to businesses to help them access this scheme.”

If you’d like more information on new cash bonus scheme, please get in touch with our Business Support team at [email protected]