BT has announced a substantial investment of £4 million to bolster apprentice schemes in the UK, specifically targeting small and medium-sized enterprises (SMEs), charities, and public sector organizations. The initiative, spread over the next four years, aims to enhance the digital skills of young people by providing financial support to recruit and train apprentices.
Since 2017, UK companies with an annual wage bill exceeding £3 million have been mandated to contribute to an apprenticeship levy. This levy, calculated at 0.5% of their annual wage bill, is used by the government to fund various apprenticeship programs. Larger companies like BT can transfer up to 50% of their apprenticeship levy to other organizations. BT is leveraging this provision by transferring funds to support SMEs.
To manage the fund, BT has collaborated with Babington, a renowned apprenticeship training provider. Eligible organizations can apply for funding, and successful applicants will be paired with suitable training providers within 20 days. The fund aims to support up to 550 apprentices and is projected to generate a £21 million economic impact.
Chris Sims, Managing Director for Small and Medium Business at BT, highlighted the importance of the initiative. “SMEs make a significant contribution to our economy, but their uptake of apprenticeships is low. By sharing up to £4 million from our apprenticeship levy funds, we’re giving these businesses the financial support they need to invest in talent,” he said. Sims further explained that the initiative would help build a skilled, diverse, and competitive workforce, enabling SMEs to grow and scale.
The fund is available to various organizations across England, including the NHS. It focuses on apprentices aged 22 and older, aiming to foster local economic growth, reduce the digital divide, and enhance social mobility. As one of the UK’s largest employers, BT has played a significant role in the apprenticeship landscape, recruiting around 3,000 apprentices and graduates over the past five years.
