Government extends Apprenticeship grant for SMEs

The government has extended a £1,500 grant scheme to help small businesses take on young apprentices for a further year.

The Apprenticeship Grant for Employers (AGE) of 16 to 24 year olds, which was launched last February, has also been increased to cover up to ten apprentices per company.

Business Secretary Vince Cable said: “I know it can be a big decision for busy small companies to take on an apprentice. Employers may be concerned about the time recruitment and training will take, and anxious about how it will work.

“So the £1500 grant is a token to acknowledge this and thank employers. I hope many more people will take us up on our cash incentive to grow their business, and train up the workforce of the future.”

Previously split over two payments, the AGE grant will now be paid in a single instalment. The incentive is available to businesses with up to 1,000 employees.

David Way, chief executive of the National Apprenticeship Service, said: “We know that many businesses believe Apprenticeships deliver the skills needed in order to
grow so we are delighted that AGE 16-24 has been positively received by employers for helping them to do just that.

“Apprenticeships come with a guarantee of quality, giving young people a job with training, and are proven to deliver a significant return on investment, so this really is a win-win initiative for employers. There has never been a better time to recruit an apprentice, so I hope more organisations will look at how they can benefit from this grant over the coming 12 months and reap the rewards of a more motivated, skilled and qualified workforce.”

Natalie Thornhill