The Government has extended the payment incentives for businesses considering taking on apprentices.

Do you know your business can still receive an incentive for a new apprentice?

Following Chancellor Rishi Sunak’s budget announcement earlier this month, businesses taking on apprentices aged 16-24 will continue to benefit from cash incentives of up to £2000 for a further six months.

Employers taking on apprentices aged 25 and over will also continue to receive cash incentives of £1500 until September 2021.

And any employers who hire a new apprentice between 1 April 2021 and 30 September 2021 will receive £3000 per new hire, regardless of the apprentice’s age.

So it’s definitely worth considering as this payment could really support your business with taking on a new addition to your team.

An apprentice can help you to:

• Expand and upskill your workforce
• Invest in your business future
• Adapt your training needs to your business
• Improve your product or service quality
• Develop your existing employees

The cash incentives are in addition to the £1000 payment already provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care Plan, so some employers could receive £4000 in total.

Lorraine Cole, Apprenticeships Team Leader for Sales and Recruitment at Coventry College, said: “It’s really pleasing that the government have decided to extend the incentive for employers to take on apprentices.

“We work closely with many employers to deliver apprenticeships across Coventry and beyond and these payments could really make the difference to them during these uncertain times.

“It shows the government’s commitment to apprenticeships and we’ll work closely with employers to make sure apprentices are the perfect for businesses by selecting high quality apprentices from a talented pool of applicants.”

Click here for more information about apprenticeships at Coventry College and how they can benefit your business.

If you are interested in taking on an apprentice or finding out more about apprenticeship programmes, please contact our Apprenticeships team on 02476 791700 or email: [email protected]