Any SME employer with a wage bill under £3million can now access apprenticeships under a reduced co-funded model.
To support SME's the government will fund the remaining 95%. From the 1st April 2019 the government dropped the employer contribution from 10% - 5% to either upskill an existing member of staff or to recruit a new apprentice for their business.
This 5% contribution can be paid in full to Peach Orator or alternatively Peach Orator will provide options to pay this contribution over a longer period
What's more this will still allow employers to have access to the same range and High Quality training as Levy paying organisations whilst only paying a fraction of the price if they were to pay for this training on a commercial basis.
Below an example can be found outlining the breakdown of a co-funded model:
Level 5 Operation and Departmental Manager
Maximum Funding Band - £7000
Employer Contribution (5%) - £350
Government Contribution (95%) - £6,650
The government does offer a £1000 additional grants to support employers recruiting, employing and retaining young apprentices.
There are 2 areas of entitlement for this:
These payments be made as 2 equal instalments (£500 each) at 3 months and 12 months of the learners apprenticeship programme and paid to you by Peach Orator.
To find out more information about the courses that Peach Orator offer your organisation to reach its full potential please follow the link below.