BUSINESSES can get more support to boost the number of apprenticeships they offer, following the launch of a new fund by Basingstoke and Deane Borough Council.

The Basingstoke and Deane Apprenticeship Business Fund will help small and local businesses to recruit new apprentices, supporting growth and workforce diversification. 

Apprenticeships provide an opportunity for people to earn while they learn and combines practical hands-on work experience with off the job classroom-based learning. They also provide employers with opportunities to give their staff the skills needed for the job. 

Support from the new fund is not the only advantage of recruiting apprentices. A 2021 study shows that, when comparing an apprentice’s output and available subsidies to the costs of wages, training and other expenses, the average estimated benefit for employers ranges between £2,500 and £18,000 per apprentice every year over their training period. 

Following the launch of the new £150,000 fund, eligible businesses can apply for grants of £5,000 per apprenticeship to help with costs, such as recruitment, uniforms, job-specific equipment, and travel costs for up to three separate apprenticeships. The funding cannot be used to cover salaries or training costs. 

Council leader Cllr Paul Harvey said: “Apprenticeships offer people the chance to learn in a different way and start their careers with on the job training and a qualification; while earning a wage. 

"As well as providing great opportunities for those wanting to learn. Apprenticeships are also extremely beneficial for businesses and provide a unique opportunity to add to their skill base.

"We hope the Basingstoke and Deane Apprenticeship Business Fund will encourage businesses in the borough to recruit new apprentices and develop their workforces by supporting them with some of their costs.”

Before applying for funding, businesses will need to contact; ukspf@basingstoke.gov.uk to arrange a conservation. This will enable the funding team to confirm that the business is eligible, discuss the proposed apprenticeships and give applicants and opportunity to ask any questions. 

The fund will be open for applications until Sunday, March 31. Funding has been made available by the UK Government through the UK Shared Prosperity Fund.