South Tyneside Council have created a fund to support local businesses in the growth of their work forces.
A new £35k scholarship fund will support firms looking to hire apprentices, helping local businesses with the associated training and assessment costs.
The council has allocated £35k to the fund after finding an underspend in its apprenticeship levy.
Cllr John Anglin, lead member for regeneration and economy, said: “We’re committed to supporting apprenticeships and developing a skilled workforce. Skills are vital for unlocking productivity and driving economic growth.
“As a levy-paying employer we can support local businesses by transferring a proportion of our unused levy funds to help them recruit and train apprentices or upskill their staff.”
The apprenticeship levy, which is paid by large employers with an annual payroll bill of more than £3million, was introduced in 2017 to help deliver apprenticeships.
The Education and Skills Funding Agency has published guidelines for the transfer of levy funds, which can only be used to support the learning and assessment of apprentices and can’t be used to pay wages.
Read this story on BDaily
Read more posts
Pockit, an inclusive Fintech company focussed on customers who are excluded and underserved by high street banks, has set up a new office in Newcastle. This follows securing £15m of…Read more
At a crucial time for the economy, NewcastleGateshead Initiative (NGI), a public and private sector partnership, that works to position Newcastle and Gateshead as an international destination of choice, has…Read more
Have you ever wondered if you’re offering a good enough salary to attract the right talent? Or whether you should up your perk game, so it’s not all about the…Read more