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UK Limited company contractors could benefit from apprenticeships

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Small businesses, such as Limited company contractors, are being urged to invest more into apprentices.

Latest research from the Centre for Economics and Business Research (CEBR), has revealed that the UK’s smaller firms could very well benefit from having apprentices, as they can be worth up to £214 per week through reduced costs and enhanced quality of products.

During 2013, leading business lawyer of Irwin Mitchell’s small to medium sized enterprise group, Steve Beahan said that SME’s looking to develop a skilled and loyal workforce, as well as preparing themselves for future expansion, should consider apprenticeship schemes within their business,.

Steve Beahan, said, “Demand for apprenticeship places is as high as ever and I’m sure this year many young people than ever getting their A-level results will be keen to explore opportunities within an area of business that interests them.

“Apprenticeship schemes have had a renaissance in recent years and it is important that SMEs consider it as an option. It can be cost effective and an excellent way in which to develop a skilled and loyal workforce. 

“The Government is keen to support businesses in this area and earlier this year it extended a scheme for SMEs which offers cash incentives to help small businesses to take on young apprentices. In addition to increasing the timeframe, it now allows SMEs to claim for up to ten people.”

The government is working towards funding as many as £100,000 additional apprentice places within the next year.

Deputy Prime Minister Nick Clegg, said, “Apprenticeships are at the heart of our drive to provide employers with people who have the skills needed for their businesses to prosper and compete, often in a global market.

“Apprentices are vital to Great British business – from mechanical engineering and business administration to dental nursing and physiotherapy.

“We are making it as simple and rewarding as possible to take on apprentices.”

How could registering for the Flat Rate VAT Scheme benefit you? Read our plain English guide on the Flat Rate VAT Scheme.

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