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New Trainee and Apprentice bonuses – a guide from Access Training

New Trainee and Apprentice bonuses – a guide from Access Training

The new Trainee and Apprentice bonus schemes announced on 8 July 2020 by Chancellor Rishi Sunak are welcome news for employers and young job seekers alike.

The Government investment is part of a wider economic plan to help avoid high unemployment levels following coronavirus. It commits the Government to the creation of 30,000 new traineeships as well as new financial incentives for employers taking on new trainees and apprentices.

Nottingham-based Access Training has been offering apprenticeships and traineeships for over thirty years. As such, the company will play a vital role in helping East Midlands businesses to take advantage of the new incentives:

  • Traineeships: £1,000 incentive to companies offering a traineeship to a young person aged between 16 and 24.

  • Apprenticeships: £2,000 incentive to companies offering an apprenticeship to a new recruit aged between 16 and 24. This payment is in addition to the existing incentive of £1,000 per 16 - 18 year-old (or per 19 - 24 year old care leaver). A £1,500 incentive is being offered where the apprentice is over the age of 25.

Corrina Hembury, Managing Director at Access Training, welcomes the investment: “We’ve always recognised the benefit of apprenticeships and traineeships in equipping individuals with the skills and experience they need to either embark on or progress their careers.

“For businesses, it’s an injection of essential new skills, and now a vital financial boost.

“While it’s true that younger people are always the hardest hit in a recession, we cannot overlook the impact the expected economic downturn will have on older workers too. That the Government have recognised this in their investment is very reassuring.

“I and the team at Access very much look forward to helping businesses in our region tap into these much-needed funds.”

Any East Midlands business interested in learning more about the new bonus schemes are invited to visit Access Training’s guide on the new announcements.

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