Government cash incentives doubled for employers to hire new apprentices
Posted on in Business News , Cycles News
dition to pre-existing incentives in place the government has introduced new funding grants during the pandemic for employers taking on new apprentices, meaning that they could now receive up to £4,000 per apprentice.
The additional apprenticeship financial incentives were first announced by Sunak back in July 2020 and currently offer firms £2,000 to take on apprentices aged 16 to 24, while those that employ new apprentices aged 25 and over can receive £1,500. These bonuses were initially set to end this month.
However, during the recent Budget at the beginning of March Sunak announced an extension and increase to these incentives, so that from 1st April 2021 until 30th September 2021 employers who take on a new apprentice of any age will receive an incentive payment of £3,000, superseding the current incentives.
This is in addition to the pre-existing £1,000 payment already provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total and on top of having the majority of training funded by the government, meaning it has never been a better time to employ an apprentice.
Bike shops able to benefit from cash boost and skilled new employees
The extended and increased payments will have the potential to be both transformational for young people and employers alike.
Alongside a much-needed cash boost for bike shops and businesses, the scheme encourages employers to grow their own talent, creating some amazing opportunities for people to start a rewarding career within the cycling industry.
Activate Cycle Academy (ACA) deliver an 18-month apprenticeship in Bicycle Mechanics and is the only training provider to offer Cytech training as part of an apprenticeship. Cytech, managed by the ACT, is the internationally recognised training and accreditation scheme for bicycle technicians.
Cytech is at the heart of the training to ensure that all apprentices gain industry recognised qualifications when completing their apprenticeship. It includes the online Cytech Theory One and the Technical two and Technical three qualifications, as well as topics such as e-bikes, business studies, customer service and advanced selling skills resulting in a very experienced and highly skilled apprentice on completion of their training.
If you're considering hiring a new member of staff for your business and looking to give them the skill set they need to thrive, then a Cytech based Apprenticeship could be just the solution.
Employers interested in taking on a cycle mechanic apprentice or would like to learn more about the recent Government funding incentive details, should contact ACA on 01865 550 324 or email cycles@activatelearning.ac.uk.