Bonus of £1,000 to help businesses take on trainees
The new scheme will support young people to gain the skills and experience they need right from the start. The skills and experience gained will help them to get a job, an apprenticeship, or to pursue further studies.
The £1,000 cash boost, which is available until 31st July 2021, will help businesses with the cost of providing a high-quality work placement for a trainee. This includes providing facilities, uniforms or helping with travel costs.
Businesses offering new traineeship opportunities will receive the £1,000 bonus for every trainee they take on, up to a maximum of ten trainees.
Employers can claim this cash incentive for all work placements that have been completed since 1st September 2020.
Gillian Keegan, Minister for Apprenticeships and Skills, said:
‘We’re pulling out all the stops to help young people get the skills and confidence they need to progress. This cash boost will help employers of all sizes provide more traineeship opportunities to invest in their workforce so they can rebuild and grow, giving young people a vital route to start their apprenticeship journey, get their first job or go on to further study.
‘I strongly encourage as many employers as possible to apply now and take advantage of this fantastic offer so more young people can gain the skills they need to progress in their careers as we build back better from the pandemic.’
Amy Telford ACA of Harvey, Telford & Bates notes:
“The £1,000 cash boost for employers is a financial aid to take on young people in traineeships. As a business, you may already be providing opportunities for young people and may already benefit from this or can start now.
Harvey, Telford & Bates are on hand to help you with this and can provide guidance on how you may be able to benefit from this cash bonus. If you feel you would like advice, please get in touch with our team.”
To discuss this topic or for advice on anything else, you can call us on 01743 462604 or email us at [email protected] to schedule an appointment or speak to one of our team.
For more information on the traineeship cash bonus, please click here