Originally planned for just the 2012/13 financial year, the Apprenticeship Grant for Employers of 16-24-year-olds scheme (AGE 16-24) has been extended for a further year, to March 2014, the National Apprenticeship Service (NAS) has confirmed.
The NAS has extended the scheme, which offered a £1,500 grant to help businesses with fewer than a thousand employees take on one apprentice, in response to the positive reception it's received during the past year.
It's also been increased to help eligible businesses claim their grant for up to ten additional apprentices.
The announcement coincides with the launch of a national radio advertising campaign that promotes the AGE grant while encouraging employers to take on an apprentice.
Business Secretary Vince Cable says: “I know it can be a big decision for busy, small companies to take on an apprentice".
Employers may be concerned about the time recruitment and training will take, and anxious about how it will work. So the £1500 grant is a token to acknowledge this and thank employers. I hope many more people will take us up on our cash incentive to grow their business, and train up the workforce of the future.”
NAS Chief Executive David Way says: “We know that many businesses believe Apprenticeships deliver the skills needed for growth so we are delighted AGE 16-24 has been positively received by employers for helping them to do just that."
Apprenticeships come with a guarantee of quality, giving young people a job with training, and are proven to deliver a significant return on investment, so this really is a win-win initiative for employers. There has never been a better time to recruit an apprentice, so I hope more organisations will look at how they can benefit from this grant over the coming 12 months and reap the rewards of a more motivated, skilled and qualified workforce.”
