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Apprenticeships for business

Apprenticeships for business

Apprenticeships let you train someone in the skills your business actually needs, often with government funding to help cover the cost. They can be a great way to get the support your business needs while also providing someone with the skills to start on a great new career. Here's what's involved and what you may need to know before deciding to take on an apprentice.

How apprenticeships work

An apprentice works for you while studying towards a recognised qualification. They are usually linked to a college or training provider, where they carry out their studies. The apprentice will split their time between paid work for your business and off-the-job training, typically for around one day a week. Sometimes the study takes place in blocks rather than being a regular weekly commitment, but you'll know this before you take on the apprentice. Apprenticeships can last from one to four years, depending on the role and level.

Funding and costs

One of the reasons people find taking on apprentices both great for their business and the employee in question is the funding involved. Government funding covers some or all of the training costs, depending on your business size and whether you pay the apprenticeship levy.

There are a few things to check before you commit:

•        Whether you're eligible for government funding towards training costs

•        The apprentice wage rates that apply to their age and experience

•        Which training providers offer the qualification you need locally

Is it right for your business?

Apprenticeships work best when you can commit real time to supporting someone's development, not just filling a junior role. If you've got the capacity to mentor and the patience for someone learning on the job, an apprentice can grow into a genuinely skilled member of your team and be a real long-term benefit for your business.

Frequently asked questions

You'll pay their wages, but training costs are often subsidised or fully funded depending on your business size and the apprenticeship levy. Check gov.uk for current funding rates before you commit.

Apprentices have their own minimum wage rate, which is lower than the standard minimum wage and depends on their age and which year of the apprenticeship they're in.

Yes. Apprenticeships are open to businesses of any size, and smaller businesses are often eligible for more generous funding support than larger ones.

Eleanor de Bruin

Written by Eleanor de Bruin

Senior Financial Copywriter

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binq is a trading style of binq Business Limited. Registered in England and Wales. We’re a broker – not a lender. White Collar Factory, 1 Old Street Yard, London EC1Y 2AS. Company Registration No. 16315024. binq is a trading style of binq Business Limited.

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