Local bike shops can benefit from new £2,000 apprenticeship grant for SMEs
Posted on in Business News , Cycles News
There has never been a better time for local bike shop owners to invest in the next generation of cycle technicians. Activate Cycle Academy explain how your shop can benefit from the government’s new youth employment package.
The Government has recently announced its biggest investment in youth employment in a decade, including a new £2,000 cash incentive for SMEs (small or medium sized enterprise) that recruit a new apprentice aged 16–24. Plus, they’ve also increased the upper age limit for fully funded apprenticeship training costs to 24 (up from 21 years of age).
For local bike shops looking to grow their team, this could significantly reduce the cost of hiring and training a new Bicycle Mechanic Apprentice.
What does this mean for your business?
✅ £2,000 cash incentive for every eligible SME taking on a new apprentice aged under 25.
✅ Potentially £3,000 in total support when combined with the existing £1,000 incentive available for apprentices aged 16–18.
✅ Fully funded apprenticeship training costs for eligible businesses hiring apprentices under the age of 25.
Is your business eligible?
To access the full package of support, your business must:
- Employ fewer than 250 staff
- Have an annual payroll of less than £3 million (meaning you do not pay the Apprenticeship Levy)
- Recruit a new apprentice aged under 25
If you meet these criteria, your apprentice's training costs will be fully funded (free training) and you'll also be eligible for the new cash incentive.
SAVE – plus there is also zero employer NI contributions for apprentices under 25
Looking to recruit a Bicycle Mechanic Apprentice?
Whether you're planning ahead for a busy summer season or looking to develop talent within your workshop, an apprentice can help strengthen your team while building skills for the future. Don’t forget, our 18-month apprenticeship is the only one that includes Cytech training – all funded within the course syllabus.
At Activate Cycle Academy, we'll guide you through the process and help you maximise the funding available to your business.