Funding update: Are you tapping into all the funding available to you?

The Government has set out a series of funding options for businesses across the UK, in its Solutions for Business portfolio.

Workplace training forms part of the offering and could help you to access funded courses, in addition to Apprenticeships, (see separate article), for your staff.

Support is available for your workforce to undergo vocational training to improve their performance and your organisation’s productivity. The funding options include:

• Fully-funded literacy and numeracy training
• Fully-funded first qualification at Level 2 or 3 for staff aged 19-24
• Co-funded retraining at Level 2 for employees of small and medium sized companies (SMEs) only (the Government will pay 50% and you will contribute the other 50%).

Leadership & Management Funding

The Government will also provide up to £1,000 of matched funding for SME’s that need to send staff on leadership and management training and particularly if your company has the potential for fast growth. 

You will need to have an initial assessment and then you will be offered a free ‘skills needs analysis’ and help to put together personal development plans before accessing up to £1,000 of funded training. 

The grant will need to be fully matched by your organisation on a pound for pound basis and excludes VAT. So if you are eligible and your approved training costs £2,000 excluding VAT, you may be eligible for a grant of £1,000. Previous beneficiaries of this programme may be eligible for further support but must meet the eligibility criteria.

To find out more about all your funding options, speak to a Business Development Adviser on 0300 011 23 44