The cost of taking on an Apprentice. An apprentice could help you put your business in the spotlight with new talent, fresh skills and motivation, but many sole traders and small business are put off by the cost of taking on an apprentice, as well as the time commitment of supporting their training programme. Don’t fear! There is funding available and what you will potentially get back in terms of helping your business to grow should more than cover the cost. Apprenticeship funding facts: The level of funding that an employer receives towards an apprenticeship is dependent on a number of factors:Back to Insights
- The age of the apprentice - (16-18 year olds are fully-funded by the government. For those 19 years + there is a 50 per cent contribution expected from the employer)
- The size of the employer – a sole trader will not pay any additional contributions but an employer with more than 1000 employees will pay an additional 20 per cent of the training costs
- Each apprenticeship programme attracts a different funding value from the government
- Funding for individual apprentices varies according to their previous qualifications.