For businesses with an annual wage bill under £3 million, the majority of apprenticeship training costs can be covered by Government funding.
Usually, the Government will contribute 95% towards the cost of apprenticeship training, with employers topping up the last 5% as a co-investment payment.
For eligible SMEs with under 50 employees, the Government can fund 100% of training costs for apprentices aged 16-18. This also applies for apprentices aged 19-24 with an EHC plan from their local authority.
For all employers, £1000 cash grants are currently available to hire an apprentice aged 16-18, or 19-24 with an EHC plan. Until January 2022, the government is also offering £3000 Apprenticeship Hiring Incentives for employers.