How to access apprenticeship funding
Hiring an apprentice can be a great way to build a talented, skilled and loyal workforce from scratch. From May 2017, employers not eligible to pay the apprenticeship levy (so those with a wage bill of less than £3m) are also eligible for funding to start an apprenticeship scheme.
What apprenticeship funding is available?
- Businesses who offer apprenticeships to 16 – 18 year olds receive 100% of the cost of the training from the government (up to the various maximum funding bands).
- Employers will pay 10% of the cost of the training for any apprentices who are 19 and over, with the government paying the rest.
- For businesses with less than 50 employees, there is also a £1,000 incentive if hiring an apprentice between the ages of 16 – 18.
How do you access the apprenticeship funding?
- You will need to set up a government account https://www.gov.uk/guidance/manage-apprenticeship-funds.
- Choose the type of apprenticeship you wish to run.
- Identify the qualification and a local college to partner with you for each apprentice role.
- Choose which type of contract you will need: there are two types of apprenticeship; a contract of apprenticeship (common law) and an apprentice agreement/contract (statutory apprenticeship).