Govt announces apprenticeship plan for small firms

Date: 17th November 2011

Small businesses are to be given help to take on the skilled workers they need for future growth under government proposals announced yesterday (November 16th).

Business secretary Vince Cable revealed new measures to increase apprenticeship numbers, which include incentive payments for companies with fewer employees than 50 employees.

Under the plans to support 20,000 apprenticeships in 2012-13, the government will give small businesses up to £1,500 to take on apprentices aged between 16 and 24-years-old.

Dr Cable explained that he has listened to employers who are looking for specific skills to help their companies grow in the future.

"Apprenticeships are proven to boost the life chances of young people, and are a sound investment in our future competitiveness," he explained. "So when times are tough, it's right that we provide additional support to help the smallest firms meet training costs."

The government announcement comes after figures published by the Bank of England revealed the amount of money being lent to the UK's small businesses is declining.

Posted by Jacob Williams