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\n A scheme set up by the West Midlands Combined Authority to help cover the costs of apprenticeship training for small and medium-sized enterprises has now funded more than 5,000 apprentices.\n <\/p>\n
Over 2,500 businesses have benefited from around \u00a351 million of pledged donations from larger, levy paying companies, through the Apprenticeship Levy Transfer Fund.<\/p>\n
The scheme has seen some of the UK’s biggest businesses cover 100% of the training cost of apprentices for SMEs. They do this by donating their unspent apprenticeship levy, which is charged annually by government, to the WMCA rather than giving it back to HM Revenue and Customs.<\/p>\n
Since the Mayor came into office in May 2024, 12 large employers – HSBC, Amazon, Compass Group, Lloyds Banking Group, Birmingham City Council, Dudley MBC, Sandwell Council, Coventry Council, National Express, Wesleyan, University of Warwick and the BBC – have donated nearly \u00a33.8 million, supporting 216 SMEs and 563 apprentices.<\/p>\n
Richard Parker, Mayor of the West Midlands, launched a pledge in June last year to create 20,000 work experience, training and apprenticeship places as part of his Jobs for Everyone Priority and to tackle unemployment in the region which in some areas is twice the national average.<\/p>\n
The Mayor is encouraging even more SMEs to recruit apprentices by taking advantage of the scheme. He said: \u201cNot long after becoming Mayor, I met Ky, who told me how he turned his life around after someone recognised his potential, helping him land an apprenticeship in construction.\u00a0<\/p>\n
\u201cApprenticeships are a fantastic opportunity for people to get the skills they need to pursue the career they dream of \u2013 just like Ky did. Through the Apprenticeship Levy Scheme, we’ve secured \u00a351m of funding and opened up 5,000 opportunities for our residents.\u00a0<\/p>\n
\u201cIt\u2019s a great scheme for our businesses too – helping them to attract future talent, upskill their existing workforce and help them grow – now and in the future.\u201d<\/p>\n
Those SME\u2019s accessing the scheme see their training costs reduced to zero, enabling them to reinvest that money into recruiting additional apprentices or increasing apprenticeship pay to attract more candidates.<\/p>\n
Businesses wishing to register their interest can sign up for more information at the\u00a0Apprenticeship Levy Fund<\/a>.<\/p>\n To find out more about the Mayor\u2019s Youth Plan and pledge to create 20,000 work experience, training and apprenticeship places visit the\u00a0Youth Employment Plan<\/a>\u00a0online.<\/p>\n