CBI Midlands’ Post

How will these reforms benefit your business? Let us know in the comments below 💬

Powering Progress: Apprenticeship Levy reform is here🎉 We’ve been campaigning hard on behalf of our members, and the government has now announced crucial reforms to the Apprenticeship Levy - directly aligning with our asks for greater flexibility. These changes mean levy funds will support a wider range of training options, including shorter apprenticeships, making it easier to upskill your workforce and drive growth. This is a huge win for business, and we’re calling for swift implementation to ensure firms can make the most of these changes. 💼Want to know more about the changes we’re pushing for in the upcoming Budget? Read our Budget Submission👇 https://lnkd.in/eazJjcs7 💬How will these reforms benefit your business? Let us know in the comments below. #PoweringProgress #SkillsForGrowth #CBIImpact #ApprenticeshipLevy #BusinessWins

🤔 Is your business spending £3M or more on salaries per year? If so, you will automatically be paying Apprenticeship Levy… What does this mean? The Apprenticeship Levy was initiated by the UK government in April 2017. 💸 Employers that meet the criteria are required to pay 0.5% of their payroll each month as a levy tax… 📝 This can be reinvested back into their workforce in the form of Apprenticeship training but cannot be redeemed back if unused. ⏱️ So, what are you waiting for? Put your Apprenticeship Levy to good use! 🫱🏻🫲🏼 Visit our website to see how we can support the learning and development of your employees. #ApprenticeshipLevy #Learning #TeamDevelopment #TeamBuilding

PM announces SME reform package The Prime Minister has revealed a set of major reforms at the Business Connect conference in Warwickshire to help businesses, particularly small ones, by offering more apprenticeship opportunities and cutting unnecessary bureaucracy. From 1 April, the Government will cover the full training costs of apprenticeships for individuals up to 21-years-old in small businesses, making it easier and cheaper for these businesses to offer more apprenticeships. This initiative is supported by £60 million of new funding for the next year to ensure sufficient apprenticeship funding is available. https://lnkd.in/dKsfrRb6

The Prime Minister has revealed a set of major reforms at the Business Connect conference in Warwickshire to help businesses, particularly small ones, by offering more apprenticeship opportunities and cutting unnecessary bureaucracy. From 1 April, the Government will cover the full training costs of apprenticeships for individuals up to 21-years-old in small businesses, making it easier and cheaper for these businesses to offer more apprenticeships. This initiative is supported by £60 million of new funding for the next year to ensure sufficient apprenticeship funding is available. #apprenticeships #governmentsupport #sme

The new Government has committed to reform the Apprenticeship Levy (introduced under the Conservatives in 2017) to allow businesses to use a to-be-determined portion of the levy pot on other skills training, through a new ‘Growth and Skills Levy’. This is a central part of the Government’s cross-departmental skills strategy and its Growth and Opportunity Missions. Designed well, and with the necessary accompanying reforms, the Growth and Skills Levy has the potential to support a wider apprenticeships system that works far better for businesses large and small and their employees, and unlocks opportunities for young people. Read the report here: https://lnkd.in/ejrjzaFZ

Latest from FE News: ACE360’S Perspective On UK Government’s Major Apprenticeship Reform Package: At ACE360, we understand the pivotal role that small businesses play in driving innovation, fostering economic growth, and creating opportunities for communities. That’s why we’re… ACE360’S Perspective On UK Government’s Major Apprenticeship Reform Package was published on FE News by ACE360 #EducationNewsUKHigherEducationNewsFENews Read more here:

Investing in and implementing an apprenticeship strategy through the apprenticeship levy is highly beneficial 👍 But what about now, with Skills England set up and the Labour government’s manifesto hinting at reforms to the levy? Should you hold your levy funds in anticipation of future changes? 🤔 👉 While we don’t know what changes may be made, significant reforms are unlikely in the first 12 months, given that key figures from the existing system are transitioning to Skills England. Equally, reforms are unlikely to allow for more flexible spending on regular L&D. 👉 The current system, although imperfect, still offers valuable opportunities for skill development. And an apprenticeship provides a long-term pathway for building skills and solid experience. 👉 Don't hold back - act now and leverage the levy. We provide a supportive service to help you set up your apprenticeship strategy - we're experts in managing apprenticeship programmes and we're with you every step of the way 🙏 ✉ DM Erica to have an initial conversation or email us: hello@quantumrise.co.uk #ApprenticeshipStrategy #FutureSkills #SkillsDevelopment #LearningAndDevelopment

Realise applauds the recent Government announcement outlining significant reforms to support businesses in delivering more apprenticeship places. 👏 As highlighted by the Prime Minister, these reforms mark a pivotal step towards empowering businesses and providing young people with invaluable opportunities to kick start their careers. 🚀 Gregg Scott, CEO of Realise, remarked: "We welcome these progressive measures by the Government, which will undoubtedly facilitate greater access to apprenticeships for young people across various sectors. By fully funding apprenticeships for young people up to the age of 21 in small businesses from April 1st, and increasing the flexibility of the apprenticeship levy, the Government is not only alleviating financial burdens for businesses but also creating a more inclusive and dynamic environment for skills development." Additionally, we welcome the further announcement where large employers who pay the apprenticeship levy will be able to transfer up to 50% of their funds to support other businesses, including smaller firms, to take on apprentices. Realise is committed to supporting businesses in harnessing the full potential of apprenticeships to cultivate talent, foster growth, and contribute to a thriving economy. With an additional £60 million in government funding and increased flexibility in the apprenticeship levy, we anticipate a surge in apprenticeship opportunities, empowering young people to succeed in a diverse range of industries and professions. ✨ For more information on the reforms, visit: https://lnkd.in/eiD-Zzh2 or email hello@realisetraining.com

The Department for Education has published its annual accounts, appearing to show a very small £17m (1%) underspend on the apprenticeship levy. What does this mean for the government? Its means that, all things being equal, if the Growth and Skills Levy funds can be used for non-apprenticeship programmes, it will lead to a reduction in apprenticeship funding. Today's Treasury audit has made it very clear that the levy 'top slice' - the difference between the revenue the levy generates, and the amount budgeted for apprenticeships (around £700/£800m) - will likely remain with Treasury for the time being. The Comprehensive Spending Review and the Budget announced today for October 30th will be key dates to lobby for this funding to be released. The DfE accounts do however show a planned rise in the apprenticeship budget to £2.663bn in 2024/25. AELP #skillsmeansgrowth