How can I fund apprenticeships in my business? What does an apprenticeship cost? How do I manage this? What is the apprenticeship service account?
Full funding for SMEs
Fareport can match SMEs with a large employer who wants to support SMEs with their apprenticeship training. This means you can access full funding for all our apprenticeship courses. We will support you with the administration of transferring the funds from large employers including Hampshire County Council and Oxford University.
If you choose to fund the course yourself, small employers with an annual payroll of less than £3m need to pay 5% of the apprenticeship cost. The government will pay the remaining 95%. Current costs can be found in our Course prospectus below.
If you train a 16-18 year old you will be eligible for a £1000 Employer Incentive.
If you train someone up to the age of 21 the government will pay the full funding.
Funding for large businesses
Since April 2017 large employers with a payroll of over £3m per year started to pay the Apprenticeship Levy of 0.5%. It is not too late to plan how your levy can support your company's training needs. Fareport can provide free advice on:
How the levy works
How to use your online Apprenticeship Service account. Here is a quick guide: Apprenticeship Service Account or, Get help with the apprenticeship service
How to get the most out of the levy and choose the right apprenticeship training for your business.
You’ll need a GOV.UK One Login to set up or access an account. You can create one in the service using a work email address.If you’re an employer, sign in to this service to:
create apprenticeship adverts
accept employer agreements with the Department for Education (DfE)
give account access to people within your organisation
give training providers permission to do some things for you (such as creating adverts and reserving funds)
You can also use this service to add details about your:
organisation or company
PAYE scheme
apprentices
If you do not pay the apprenticeship levy, use this service to reserve funding.
If you pay the levy, use this service to manage funding and provider payments.
If you would like a free consultation please contact our Business Development team. Or find out more about the Apprenticeship Levy in our FAQs and our blog Apprenticeship funding explained.
If you train a 16-18 year old you will be eligible for a £1000 Employer Incentive. Current costs can be found in our Course prospectus below.
Contact us
For more information on Apprenticeships or to recruit an apprentice, please contact the Business Development Team on;
01329 825805
