The Apprenticeship Grant for Employers (AGE) scheme will receive additional funding as of January 2015 to the tune of £170m. This extra money is being allocated to encourage small firms to take on an apprentice aged 16-24. As of January 2015 the AGE grant will solely focus on small firms with fewer than 50 employees.

Businesses can receive a £1,500 grant for each apprentice they take on, provided the business hasn’t taken on an apprentice in the previous year. Up to 10 apprenticeships can be funded through these grants, meaning businesses could receive up to £15,000 in grants for taking on a group of apprentices.

A further £20m of funding is available for firms taking on degree-level or postgraduate apprentices. This investment will part-fund the training of degree level or postgraduate apprentices, with the rest of the cost of the training met by the employer. The current round of funding as part of the AGE 16 to 24 scheme is available until December 31 2014.

As well as this, the Buckinghamshire Apprenticeship Grant is a £1,500 top-up to the AGE scheme, meaning that in total employers can claim £3,000 towards the cost of employing a new apprentice.

Speak to Buckinghamshire Business First’s apprenticeships expert to find out more about taking on an apprentice. Call 01494 568944 or visit the apprenticeships page on our website.