The government has announced a £250 million fund which is to be provided directly to employers. The purpose of this fund is to enable employers to develop vocational skills training programmes which are tailored to their needs.
The government hopes to publish a prospectus in early 2012. It is expected that £50 million will be available in 2012/2013 with the additional £200 million to be available in 2013/2014.
Employers will be able to use the funds to design, implement and pay for vocational training programmes which are specific to their requirements.
Which employers may apply?
The scheme is open to employers of all sizes and from all sectors. Employers will have to bid for funding under this scheme and they will have to show how any funds received will “leverage private investment, support Apprenticeships and show a commitment to raising skill levels in their sector or supply chain”.
This scheme has been announced as part of the government’s growth review and it is hoped that it will encourage employers to take on additional apprentices.