Employers can apply for a £1,000 cash boost to help young people gain the skills and experience they need to kickstart their career.
The deadline to apply for the funding is [on] 31st July 2021.
The new scheme will give businesses a financial boost to implement a high-quality work placement for young people – firms may wish to use the funds on facilities, uniforms or travel costs.
The announcement of the new funding scheme comes after the Chancellor’s announcement in July. As part of his plan for jobs the additional £111 million investment will support the largest ever expansion of traineeships, meaning more young people will gain the skills and confidence they need to start their career.
Rishi Sunak said, “My number one priority is to support, protect and create jobs, which is why for the first time ever we’re giving businesses £1,000 to cover the cost of trainee work experience, because we know that traineeships are a proven way to give young people the skills and opportunity they need to be ready for work.”
Companies that offer new traineeship opportunities will receive the £1,000 bonus for every trainee they take on, with up to a maximum of 10 trainees. Firms can claim the cash incentive for all work placements that have been completed since 1st September 2020.
Apprenticeships and Skills Minister, Gillian Keegan, 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.”
The traineeship lasts between 6 weeks and 12 months and will focus on developing vital employability skills, as well as additional English, maths and digital skills, coupled with a work placement lasting a minimum of 70 hours.
The new programme will play a significant part in building back from the pandemic as it will support businesses to create and fill more jobs. Recent figures revealed that 66% of trainees end the programme with a job, take up apprenticeships, or go into further study.
For 16-24-year-olds on universal credit and at risk of long term unemployment, the Government also provides the Kickstart Scheme which grants funding to create new job placements. Employers of all sizes can apply for this funding. Further funding is also available under this scheme, helping to enable young people to get a job in the future.
If you would like to apply for the £1,000 funding boost and find our more information, click here.
If you’d like to know more about the Kickstart Scheme, you can read more about it here.