How Much Do Apprenticeships Cost an Employer?

Have you ever wondered how much an apprenticeship will cost or whether there’s any help for your business?

The short answer is:

Yes! There is help.

But how much does it cost you?

Read on to find out all you need to know about the current apprenticeship funding rules. 

How much does apprenticeship training cost?

Each qualification and level have a different associated cost. 

For example:Training for a Level 2 Customer Service apprenticeship costs £1,500.

However:

A Level 3 Advanced Domestic Plumbing apprenticeship costs £9,000.

You can view all the qualification funding bands on gov.uk website - Apprenticeship funding bands

Do I have to pay for it all?

If you’re a large employer, you’ll be able to use your apprenticeship levy to fund any training. If your annual wage bill is £3 million or more, 0.5% of that wage bill will be going towards apprenticeship training costs. 

This is known as the apprenticeship levy, and you have 24 months to use it before it automatically goes back to the Government.  

If you’re a business with fewer than 50 employees, you could get 100 per cent of the cost of training paid for by the Government. Small and Medium Enterprises (SMEs) can also access levy gifted funds to pay for apprenticeship training. 

What can I use my funds for?

The levy can be spent on a number of elements related to apprenticeships.

The government pays towards the apprenticeship programme, so funding can be spent in different areas, Including:

• Travel costs to training sessions (not place of work
• Management costs
• Required licences
• Wages or the cost of setting up the apprenticeship. 
• Training and assessment.

Is there any apprenticeship funding available?

Apprenticeship grants may be available to help your business provide a fully funded apprenticeship. The government is offering a £1,000 cash incentive for employers who take on an apprentice aged 16-18 (or under 25 with an EHC plan). 

Apprenticeship funding rules are updated every year by the government and as an employer, you’ll need to be aware of the key points around apprenticeship funding.  

Make sure you read our blog- Apprenticeship funding rules for employers - for more detail.

Who can help me seek apprenticeship funding?

Apprenticeships are one of the best ways to bring in new talent and upskill existing staff, but we know figuring out the cost of apprenticeship training and securing funding can be a confusing process. That’s why our experienced team will take the hassle out of the process and guide you through the process from start to finish.

Find out more about how we can help with your apprenticeship funding or call our team of friendly experts on 03333 222 666.