Overview of incentives aimed to help out Borough businesses
Government incentives aimed to help out Borough businesses during the pandemic.
The government are offering various incentives to help businesses during the recovery process to help get them back on track, here are some of the incentives that you can apply for;
Apprenticeships
Employers can benefit from having a apprentice, here are some of the incentives;
- £2,000 per apprentice (under the age of 25)
- £1, 000 age incentive still applies for 16-18-year-olds
- £1, 500 per apprentice aged 25 or over
- Payment schedule 50% at month 3 and 50% after 12 months
- Must be a New apprentice for all incentives – not current staff – employer to sign a declaration stating this
- Runs from 1st August through 31st January 2021
Find out how to apply here.
Transfer to Transform
Solent Apprenticeship Hub
- For SME’s (Under 50)
- Can apply for funding to cover “employer contribution” and wider apprenticeship funding
- Levy payers can donate funding for other organisations to utilise
You can find courses here.
Traineeship Incentive
Employers will be offered the following for taking on a trainee;
- £1, 000 to take on a trainee
- Quality work placements for 16-24-year olds
- Expansion of this to include level up to Level 3
Traineeship programme
A traineeship progrgamme is a pre-apprenticeship programme and requires the following;
- A minimum of 70 hours (unpaid although the employer can cover expenses)
- work experience (no more than 240 hours if a benefit claimant)
- Work preparation training – decided with employer and trainee
- sector focussed technical or professional qualification to help prepare for occupational standards within apprenticeships
- Bursary funds for 16-19 and 19+ learner
Kickstart Scheme
The Kickstart Scheme is aimed at 16-24-year old's claiming universal credit and considered to be at risk of long-term unemployment by their DWP adviser and includes the following;
- 100% of wage for a minimum of 25 hours per week at minimum wage paid by government (employer can increase hourly rate but only the minimum wage will be covered).
- Must be a new job, and the employer will have to demonstrate this is a new post – not filling an existing role at the government’s expense
- Employers must provide training and support to help Kickstarters find a permanent job
- Cost to cover overheads will also be covered (details still to follow)
- Grant for a 24-year old will be approximately £6, 500