Apprenticeship Cash Boost: New Government Incentive
In a recent update from the Education & Skills Funding Agency, the government has confirmed that employers of all sizes in England can now apply for £3,000 in extra funding to help them take on new apprentices.
This boost to the apprenticeship incentive scheme was confirmed by Chancellor Rishi Sunak when he revealed the government's new Budget back in March and the claims portal opened on June 1st.
Businesses can apply for £3,000 for each new apprentice hired as a new employee from 1 April 2021.
- Employers with apprentices who have an employment start date between 1 April 2021 and 30 September 2021 and who also have a practical period (training) start date between 1 April 2021 and 30 November 2021 may be eligible for an incentive payment.
- Employers will receive £3,000 for new apprentices of any age.
- Employers must apply for these apprentices by the end of 30 November 2021.
The cash incentive is part of the government's 'Plan for Jobs' and is designed to help more employers invest in the skilled workforce they need for the future.
Speaking of the new incentive, Chancellor Rishi Sunak said:
Young people have been hit especially hard by the crisis – which is why our Plan for Jobs, launched last year, is focused on helping them get the skills they need to get the jobs they want.
By boosting the cash incentives for our apprenticeship scheme we’re improving opportunities for young people to stay in and find work – this could not be more important in our economy’s recovery.
To find out more and to see if your business is eligible, visit Gov.uk
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