A key focus of the fund will be on enhancing the digital skills of young people
UK incumbent BT has launched a £4 million Apprenticeship Fund to support small and medium-sized enterprises (SMEs), charities, and public sector organisations across England.
The funds will be delivered over the next four years, helping these organisations to recruit and train apprentices.
Since 2017, companies in the UK with an annual wage bill over £3 million have been required to pay an ‘apprenticeship levy’, with 0.5% of the company’s annual wage bill being paid to the government to support various apprenticeship programmes. Larger businesses such as BT can transfer up to 50% of their levy to other companies directly, which is what BT is doing here.
BT has partnered with Babington, a leading apprenticeship training provider, to manage the fund and guide applicants through the process.
Eligible organisations can apply for funding and, if successful, will be matched with appropriate training providers within 20 days. The fund could support up to 550 apprentices and is expected to generate a £21 million economic impact.
“SMEs make a significant contribution to our economy, but their uptake of apprenticeships is low,” said Chris Sims, Managing Director for Small and Medium Business at BT in a press release.
“By sharing up to £4 million from our apprenticeship levy funds, we’re giving these businesses the financial support they need to invest in talent. This not only helps create a more skilled, diverse, and competitive workforce, it also provides SMEs with additional resources to grow and scale their business,” he continued.
The fund is available to SMEs, charities, and public sector organisations across England, including the NHS. It focuses on apprentices aged 22 and older and seeks to support local economic growth, reduce the digital divide, and enhance social mobility. As one of the UK’s largest employers, BT is already a major player in the UK’s apprenticeship landscape, having recruited around 3,000 apprentices and graduates in the past five years. BT pledges £4m to help support UK apprentice schemes
