New National Apprenticeship Service Initiative
The Apprenticeship Grants are available to employers and is seen as a positive move to getting young people into work and learning. This scheme will specifically help new employers welcoming apprentices into their businesses. Up to 40,000 grants will be available from The National Apprenticeship Service, with a value of £1,500 for each apprentice.
The grants will be paid in two halves. £750 will be given to the employer after the apprentice has complete 8 weeks. The final £750 payment will be given after the full 12 months has been completed. The grant will be paid by the training provider allocated to the employer. The training providers act on behalf of the National Apprenticeship Service and are funded by them in order to pay the employer. This £1,500 is also paid on top of the funding already given by the Government: training costs of 100% for those aged 16 – 18 and 50% for those aged 19 – 24.
There are a number of terms and conditions for the apprentice and employer, such as large businesses over 250 employees are not eligible for this extra funding. The other terms and conditions can all be found http://www.apprenticeships.org.uk/Employers/Steps-to-make-it-happen/Incentive.aspx. This link also includes links to all the relevant forms needed.