Small business paid to take on apprentices

Small businesses are being offered grants to take on apprentices as part of a national scheme running throughout the UK.

Prime Minister Gordon Brown unveiled a £140 million scheme to subsidise the creation of 35,000 new apprenticeships in January this year. As part of the programme, small businesses will be awarded grants of up to £2,500 if they employ 16-17 year-olds.

Pat McFadden, UK Business Minister, commented that 239,900 new apprenticeships have been made available through small and medium sized companies. He said that many firms are “reaping the rewards of having a highly skilled workforce” as a result of this.

Mr McFadden went on to say that young people recruited as apprentices will receive valuable vocational skills that will equip them for the working world.

The Chartered Management Institute has underlined its belief that the UK is facing a skills shortage, which, it says, has been “exacerbated by cutbacks on investment in training due to the recession”. However, it is hoped that that the Government’s new Apprenticeship scheme will go some way towards addressing the issue.