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UK Contractors: £10m government funding to develop small firm’s engineering skills

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Smaller sized businesses, such as Limited company contractors, trading in the engineering sector, will be interested to learn that £10 million of funding is to be made available to help develop workforce skills.

Business secretary Vince Cable made the announcement last week, revealing that the government and employers are working together to develop the engineering workforce Britain needs to compete on the world stage.

As part of the second Tomorrow’s Engineers Week, Vince Cable announced that a total of £30 million of funding will become available.

£20 million of the fund is currently open for employers looking to develop projects aimed at improving engineering careers and increasing the number of women in the sector.

The final £10 million will soon be made available to develop engineering skills in smaller companies.

Business Secretary Vince Cable said, “A strong British engineering sector lies at the heart of sustainable economic recovery. That’s why we have joined forces with industry to secure the pipeline of talented and skilled engineers UK industry needs. Tomorrow’s Engineers Week is about ensuring that each and every young person across the country is aware of the exciting future they could have as an engineer.

“The government has worked hard to address the important questions raised in the Perkins review. I am greatly encouraged by the progress we have made so far and I look forward to these partnerships continuing long into the future. Only by working together over the long term can we have a reasonable hope of increasing the supply of engineers in the UK, a critical requirement for the government’s Industrial Strategy.”

Considering making the switch from working as a permanent employee to a contractor? Then read our free downloadable guide to moving from permanent to contracting, you may also find our advantages and disadvantages of a Limited company page useful.

If you have any questions about contracting or would like any further advice please call our New business team on Freephone 01442 275789 or email: newbusiness@sjdaccountancy.com.

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