Thursday 27 October 2022
The call was made as part of the Chamber’s campaign to support the London Progression Collaboration (LPC), a non-profit initiative backed by London Mayor, Sadiq Khan, which is working to fully fund the cost of apprenticeship training and assessment for SMEs. LCCI’s support for LPC will take the form of a campaign to raise awareness of accessible funding for SMEs which enables them to apply for 100% funding for apprenticeships.
There are numerous benefits of apprenticeships for growing SMEs including upskilling their existing workforces, attracting a more diverse range of staff and increasing productivity. By improving the appeal and accessibility of apprenticeships to businesses, The LPC is ensuring that London businesses can develop the skills they need to thrive and grow. In signposting SMEs towards fully funded apprenticeships, LCCI hopes that more SMEs will be encouraged to take on apprentices and broaden the skill sets of employees and businesses alike.
Currently, all SMEs in the UK can access 95% funding from the government to pay for the training and assessment costs of apprenticeships for new or existing staff. With The LPC’s support, SMEs can access 100% of the costs of apprenticeship training and assessment funding. The only remaining cost to employers are those that apply to other employees – salary and employment costs.
London Chamber of Commerce and Industry Chief Executive, Richard Burge, said “In the midst of the capital’s skills crisis, it is good news that small and medium sized businesses can access funds to employ much needed apprentices. At the same time, this initiative also helps Londoners who are either starting their work lives or are changing direction in their careers to seek new opportunities. The London Chamber of Commerce and Industry is determined to do all that it can to tackle the skills gaps across London”.
You can read more about LCCI’s support for the campaign here and get started on the LPC website here.