It was announced in March that the Government will fully fund Apprenticeships in small businesses from 1st April 2024 by paying the full cost of training for anyone up to the age of 21 – reducing costs and burdens for businesses and delivering more opportunities for young people to kick start their careers. This will remove the need for small employers to meet some of the cost of training.

Our Chief Executive Officer, Claire said this of the announcement: ”This is a great opportunity for SME’s. I hope they recognise the support they can get to invest in their staff which will help their business grow and be more productive. There has never been a better opportunity to start people on an Apprenticeship.”

The amount of funding that employers who are paying the apprenticeship levy can pass onto other businesses is also increasing. Apprenticeships can currently be funded by a levy paying employer transferring 25% of their unused levy to a different employer. Under the new measures, large employers who pay the apprenticeship levy will be able to support other businesses, including smaller firms, to take on apprentices.

If you have had any thought about recruiting an apprentice and want to find out about the benefits, contact our Business Support Team on info@derwenttraining.co.uk or on 01653 697698 to discuss how Derwent Training can support you.