Telford College has welcomed the Government’s extension of the cash bonus scheme for hiring apprentices.
The financial incentives were first introduced in August, offering firms £2,000 to take on apprentices aged 16-24, or £1,500 for those aged 25 or over.
Now, that figure is set to rise to £3,000 in April – regardless of an apprentice’s age – with the scheme extended by six months.
Graham Guest, principal and chief executive of Telford College, said: “This is great news. It means the actual amount that some employers could now receive for hiring an apprentice has risen to £4,000.
“That’s because there is also an additional £1,000 available for companies taking on new apprentices aged 16-18, or those under 25 with an Education, Health and Care Plan. For small businesses in particular, this is a particularly attractive package.”
Telford College also welcomed news of the chancellor’s new ‘flexi-job’ apprenticeship.
Under the plans, individuals can choose to be linked to an agency, instead of a single employer, allowing them to take on different jobs with multiple businesses in one sector.
Mr Guest said: “This is going to be particularly beneficial to industries with flexible working patterns, such as the creative and broadcast media for example, who often rely heavily on freelance or seasonal staff.”
The Treasury has said that from July, employers will be able to bid for money from a £7 million fund to create new agencies, with the first ‘flexi-job’ apprenticeships due to be up and running by January next year.