A new apprenticeship funding formula from the Government could be a benefit to businesses in Devon and Cornwall. Under the proposals from the Department of Education, which have been revealed this morning, employers will only have to contribute to the apprenticeship LEVY if their annual wage bill is over £3 million pounds.
Director of Development across The Cornwall College Group, Sally Foard, said: “The South West economy is made up of a number of small and micro businesses and this funding formula opens up new possibilities for them to take on an apprentice. The Cornwall College Group is the biggest provider of apprenticeships through CCB, their employer facing arm of the College Group across the South West and is perfectly positioned to deliver you the right type of training to help move your business forward.”
Employers with fewer than 50 employees will not have to pay anything towards the cost of training a 16-to 18–year-old apprentice.
Apprenticeships and Skills Minister, Robert Halfon, said in a statement: “We need to make sure people of all ages and backgrounds have a chance to get on in life. Apprenticeships give young people – especially those from disadvantaged backgrounds – a ladder of opportunity. Real life chances for their future. That’s why we continue to work tirelessly to deliver the skills our country needs. The apprenticeship levy is absolutely crucial to this.
“Our businesses can only grow and compete on the world stage if they have the right people, with the right skills. The apprenticeship levy will help create millions of opportunities for individuals and employers. This will give our young people the chance they deserve in life and to build a highly skilled future workforce that the UK needs.”
The Centre for Economics and Business Research, reported in 2015 that households would be willing to spend as much as £18 billion per year more if all businesses took on apprentices,with consumers willing to pay a price premium from knowing that companies are investing in local jobs and skills through apprenticeships.
Sally continued: “There is never been a better time to take on an apprentice and our team of experts are on hand to discuss the best options for your business. I would encourage all business owners to get in touch and we can look at the best option for helping you to grow.”
For more information on apprenticeships offered by The Cornwall College Group contact CCB’s Apprenticeship Recruitment Team on 0330 123 4785 or visit www.ccbtraining.co.uk/employ-an-apprentice.