Businesses in the dark over Apprentice Levy » SMEInsider

Businesses in the dark over Apprentice Levy

The Apprentice claude looks over business plan

A new survey from the British Chambers of Commerce (BCC) suggests that the levels of understanding are worryingly low among businesses when it comes to the new apprentice levy, set to start in April 2017. The Research, summarised below, reveals that 39% of firms still have no understanding, or haven’t heard of, the Apprenticeship Levy, a very high figure given the amount of coverage and comment the Levy has generated in the last six months.

Meanwhile, just over half – 51% – of businesses don’t understand how the funding reforms work above or below the £3m pay bill threshold, a situation that Skills Minister Robert Halfon will need to address as the deadline draws near, particularly urgent given that 30% of medium-sized businesses say that they fall under the scope of the Levy

Ultimately, the BCC says that businesses don’t believe that apprenticeship reforms will change their training outlook – only 11% say reforms will increase their recruitment of apprentices, while just 5% say they will have a positive impact on their wider training budget.