Apprenticeship Funding
Apprenticeship Funding
The Source Academy is a nationally approved supplier of apprenticeships. We offer flexible apprenticeship programmes in a wide range of occupational areas and we can work with your organisation to achieve the right mix of business training and qualifications to meet your requirements. Our team of experts can help you understand the rules and guidance for all employers about provision available, ensuring you receive the best value for your apprenticeship funds.
The government are currently offering incentive payments for employers who take on trainees and apprentices. Organisations can receive a £1,000 grant per trainee and up to a £2,000 grant per apprentice, in addition to a £1,000 grant per 16 - 18 year old apprentice. These grants are paid in instalments within the learner's training period.
The government also use an apprenticeship levy to fund apprenticeships across the UK.
Businesses with a payroll bill of over £3 million per annum will pay 0.5% of their wage bill into the Levy. Businesses who have a wage bill less than £3 million will be able to access funding based on the size of their company.
The Source have been working with employers across the UK since the Apprenticeship Reforms, including the Levy, came into force in April 2017. We have supported hundreds of companies to access funding to recruit new apprentices or upskill their current workforce using an apprenticeship.
Click on the links below to find out what the apprenticeship levy means for your business, or try our Apprenticeship Levy calculator.
