A new survey shows SMEs are calling for an increased financial incentive to take on more apprentices.
According to the data, as many as 47% of small businesses say that reintroducing a £3,000 incentive would encourage them to hire more apprentices, and of the firms who already offer apprenticeships 73% say that a financial incentive would result in them being able to take on more in the future.
The findings, compiled by the Federation of Small Businesses (FSB), have been released to mark this year’s National Apprenticeship Week in England.
The report also found that 36% of SMEs who already employ apprentices say they’d likely hire more if the admin and paperwork involved were reduced.
Tina McKenzie, FSB Policy Chair, said, “National Apprenticeship Week is a great opportunity to shine a light on all the fantastic small businesses out there that currently employ apprentices – nurturing their skills, while at the same time growing their business.
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“Our members who employ apprentices often tell us how they help fill skills gaps in their team, and also bring in fresh new ideas.
“We’d love to see the start numbers increasing and more small firms taking on apprentices, particularly at the entry-level. Our research shows what a difference bringing back the £3,000 incentive, which was briefly introduced during the pandemic, would make to the numbers. The Government has an opportunity to make a difference on this at the Spending Review in June.
“With so many struggling with the admin side of taking on an apprentice, it’s clear time and resources are in short supply for small businesses, most of which don’t have a separate HR team. Providing financial incentives would help to offset this.
“We also hope to see Government shorten the minimum length of apprenticeships, and give employers the right to decide whether Level 2 English and Maths is needed. These flexibilities should help SME employers fill skills gaps faster.”
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