Businesses Still Ignorant of Apprenticeship Levy Despite Suffering Skills Gap
Coming into effect in April 2016, the government initiative will require larger businesses to invest in apprenticeships
UK small businesses remain ignorant of the impending Apprenticeship Levy despite a majority concerned about a skills gap appearing in their market, the British Chambers of Commerce (BCC) has announced.
Their research into corporate need and education provision reveals that despite the fact 69% of smaller enterprises are worried about a lack of access to high skilled workers within their industry, 39% are actually unaware about the apprenticeship investments.
Coming into effect in April 2016, the government initiative will require larger businesses to invest in apprenticeships and will be collected monthly through Pay As You Earn (PAYE) alongside Income Tax and National Insurance.
Steve Hill, director of external engagement at The Open University, said:
“With the government’s new apprenticeship levy due in April next year, the BBC is rightly drawing attention to the collaborations between business and education now.
“New apprenticeship opportunities have the potential to provide high quality, scalable and accessible education which is in line with corporate goals, and this must not go unrecognised in the run up to the levy.”
Still confused about the government’s Apprenticeship Levy? Read our detailed guide here and get in the know.