Fund title: Financial support for apprenticeships
Focus of fund/fund aims:
New payments for businesses taking on apprentices
Employers can apply through their apprenticeship service account from 1 September 2020
Employers in England are being encouraged to take advantage of cash incentives designed to create more high-quality apprenticeship opportunities, particularly for young people.
The scheme provides employers that hire a new apprentice between 1 August 2020 and 31 January 2021 with a payment of:
- £2,000 for each new apprentice aged 16 to 24
- £1,500 for each new apprentice over the age of 25
Applicants can use the money for anything to support their organisation’s costs. For example, they could spend it on facilities, uniforms, the apprentice’s travel or their salary.
Employers of new apprentices in England may apply. Employers can also get the incentive payment when they hire an apprentice who has been made redundant from another organisation.