Government to fully fund apprenticeships in small businesses
The government will fully fund apprenticeships in small businesses from 1st April, the prime minister is expected to announce today (March 18, 2024).
Speaking at the Business Connect conference in Warwickshire, prime minister Rishi Sunak will outline how the government will cover the full cost of training for anyone up to the age of 21.
This will remove the need for small employers to meet some of the cost of training and save time and costs for providers like further education colleges who currently need to source funding separately from the government and businesses.
The move is expected to create an additional 20,000 apprenticeships and is underpinned by an additional £60m of new government funding for next year.
From the start of April, the government will also increase the amount of funding that employers who are paying the apprenticeship levy can pass on to other businesses. Apprenticeships can currently be funded by a levy-paying employer transferring up to 25 per cent of their unused levy to a different employer.
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