Apprenticeship funding falls into two main categories Levy and Non-Levy.
You can find out more about the funding Levy here.
Key funding points :
- Non-levy paying employers will co-invest with the Government to pay for apprenticeships (SASE Frameworks and new Standards). Employers will co-invest 5% and government will contribute 95%.
- The Government will fund 100% of the cost of apprenticeship training for a 16-18 year old or businesses with fewer than 50 employees.
- All employers will receive an incentive payment of £1000 for employing a 16-18 year old apprentice. The training provider will also receive an incentive payment of £1000 for delivering apprenticeship training for a 16-18 year old.
So if you are a small employer or work for a small employer (less than 49 employees) or are aged between 16 – 18 years old, you may receive 100% funding.
If you work for or are a larger employer (49 + but not a Levy payer) you can receive up to 95% funding for apprenticeship training.
Other employer incentives are available through apprenticeship funding, as well as Varsity Training’s offers, so please get in touch to discuss any questions you may have in relation to the costs of training.