Apprenticeships play a vital role in delivering the skills, knowledge and behaviours employers and industries need. Businesses that offer apprenticeships see them as beneficial to their long-term success. Hiring an apprentice is a productive and effective way for any business to grow talent and develop a motivated, skills and qualified workforce. Apprenticeships will also help the economy to recover from the Coronavirus outbreak, In July 2020 the Chancellor Rishi Sunak announced a new plan for jobs worth £160 Billion to help the economy get up and running again. The government have announced financial support to help employers hire new apprentices. There are now new incentive payments got hiring a NEW apprentice. Employers of all sizes are being invited to apply for generous cash incentives to help them take on a new apprentices and get more people into work.When you hire new apprentices between 1 August 2020 and 31 January 2021, you can apply for extra funding to give your organisation a boost.
For apprentices aged 16 to 24, you will receive £2,000. For apprentices aged 25+ you will receive £1500.
The apprentice needs to be new to the employer and must not have been employed by that same employer within the last 6 months of their contract staring. Payments are made in two equal instalments, where the apprentice is still learning at 90 days and 365 days. There is no limit on the number of incentive payments an employer can claim for apprentices eligible to receive funding, proving each apprentice meets the criteria.