Available Funding – AGE Grant
Did you know hiring an Apprentice aged 16-24 means your business can receive a grant of £1,500 from the government?
Changes to the AGE Grant (October 2012)
- The following changes to eligibility criteria have been approved by the SFA:
- The Grant is available to businesses with up to 1,000 employees
- The number of grants an employer can claim has increased from three to ten apprentices
- An employer will be eligible for AGE if they have not employed an apprentice in the last 12 months
Employer Fact Sheet link (PDF) https://www.gov.uk/government/publications/apprenticeship-grant-employer-fact-sheet
What financial support is available to employers?
An Apprenticeship Grant for Employers (AGE) of £1,500 is payable in two instalments, for up to 40,000 eligible employers who commit to employ one or more 16 to 24 year old Apprentices for the first time. (Until December 2015)
Which employers are eligible to receive these new age 16-24 payments?
Priority will be given to small-medium sized employers with less than 250 employees to recruit an Apprentice for the first time. It is expected that most employers will want to access AGE 16 to 24 to support the recruitment of one Apprentice. Subject to budget availability and the employer’s commitment to support the Apprentice to the end of their programme, up to 3 grants can be made to any one employer. However, the employer must commit to the total number of Apprentices they wish to take on through the grant at the upfront agreement stage.
What is an employer’s commitment?
- Employers will sign an agreement which will include;
- A commitment to employ the Apprentice for at least the time it takes to achieve the Apprenticeship framework.
- Agreement to pay the minimum Apprenticeship wage of £2.60 per hour – though this is a minimum and most employers pay more.
- Confirmation that they have not taken on an Apprentice in the previous three years
A skilled workforce can help businesses weather tough market conditions and emerge stronger. In fact, those that invest in training are far more likely to survive a downturn than those that don’t.
Improve your bottom line:
Apprenticeships deliver real returns to your bottom line. In a recent survey, the majority of employers said that Apprenticeships helped them to improve productivity and to be more competitive. They also said that training Apprentices is more cost effective than hiring pre-skilled staff, leading to lower overall training and recruitment costs.
Motivate your workforce:
Apprentices tend to be eager, motivated, flexible and loyal to the company that invested in them. Remember, An Apprentice is with you because they want to be – they have made an active choice to learn on the job and a commitment to a specific career.
Fill your skills gaps:
Apprenticeships deliver skills designed around your business needs. They also help you to develop the specialist skills you need to keep pace with the latest technology and working practices in your sector. Employers in the Populus survey said they relied on their Apprenticeship programmes to provide the skilled workers they need for the future.
CATS will support you from start to finish, taking care of all the administration and paperwork. In addition to the incentive we will, on a no cost basis, help with recruiting your new Apprentice by advertising your vacancy and sifting through all applications to ensure any candidate you interview matches your desired criteria.