Non-levy paying businesses and businesses that need to supplement their digital levy account will need to co-invest 5% of the cost of their apprentice training. The government will pay the remaining 95%.
Small businesses (<50 employees) will receive 100% of the funding where the apprentice is 16-18 years old, or is between 19-24 and has a local authority education, health and care plan.
Employers and training providers will both receive an additional £1,000 where the apprentice is between 16 and 18 years old inclusive. This is to be paid by way of two equal instalments after 3 and 12 months.
As an example, Solent’s CMDA is proposed to be Band 15 in the new bandings, with an upper limit of £27,000. This means that for non-levy paying businesses, the co-invest amount would be £2,700 over the duration of the training (four years in this case).
The team here at Solent are happy to talk through your current situation and look at how we can work together to address your training needs.
Get in touch with us via email at email@example.com or call 023 8201 5066.
GOV.UK's guide to apprenticeship funding
Solent's step-by-step guide to the apprenticeship service (PDF)
GOV.UK's apprenticeship homepage
The Skills Funding Agency's guide to higher and degree apprenticeships
National Apprenticeship Service's guide for employers
You can also call the National Apprenticeship Service on 08000 150 600 or email them at firstname.lastname@example.org.