Funding and Apprenticeship Levy
Our experts can support you to make the most of available funding. If you are looking to develop your apprenticeship and levy strategy, The GC Business Hub offers a free consultation with one of our experts for advice on apprenticeship pathways within your organisation.
Funding opportunities for your business
The government will pay £2,000 to all employers in England for each new apprentice they hire aged between 16-24, and £1,500 for each new apprentice they hire aged 25 and over before 31 January 2021.
If your company has less than 50 employees and you take on a 16-18 year old, you are entitled to receive the training completely free of charge.
If you are not a levy payer, (your wage bill is less than £3 million) you will contribute just 5% of the total cost of your apprenticeship training, the Government will pay the remaining 95%. Additionally, you will receive £1,000 for each 16-18 year old apprentice that you take on, plus the incentive payments from the government. That’s a total of up to £3,000 per apprentice hired paid directly to your business.
If you pay the apprenticeship levy, as well as receiving the incentive payments from the government, we can support you to maximise your levy strategy and make the most of funding on offer. You can use your levy funds to bring in new talent to the business, or upskill existing employees and help reduce skills gaps.
Contact our Business Hub team now on: 01452 563400 / business.hub@gloscol.ac.uk