During the 2020 Summer Economic Update in July, Rishi Sunak, Chancellor of the Exchequer, announced the launch of an incentive scheme to reward businesses for recruiting new apprentices.
The current scheme will end on 31 March, however in the budget announcement this month (March 2021) Rishi Sunak confirmed the original scheme will be succeeded by a more generous one. The new scheme, which will run until 30 September 2021, will see small and medium sized businesses receive £3,000 for every apprentice they hire, regardless of the apprentice’s age.
Association of Employment and Learning Providers Chief Executive Jane Hickie said the financial incentives boost could be a “game-changer” and prove to be “particularly attractive to smaller businesses”.
Mark Mckenna, Managing Director of Mindful Education said: “This incentive scheme provides a fantastic opportunity for employers to hire high-quality talent and grow their business in a sustainable way. It is essential that the government, employers and the education sector continue to work together and take part in schemes like this in order to improve the career prospects of young people during this particularly tough economic period.”
Mindful Education creates high quality, flexible apprenticeships that empower learners, minimise disruption to employers and deliver tangible results in the workplace.
If you are an employer and would like to take advantage of the new apprenticeship incentive, then please get in touch by emailing: email@example.com