BT has recently announced a new initiative to boost apprenticeships in England. The telecommunications giant is investing £4 million of its apprenticeship levy reserves to launch the Apprenticeship Fund. This fund is specifically designed to support small and medium-sized enterprises (SMEs), charities, and public-sector organizations across the country.
In partnership with apprenticeship training provider Babington, the Apprenticeship Fund has the potential to support up to 550 apprentices aged 22 or older. BT estimates that this initiative could result in a positive economic impact of £21 million. The investment is set to cover an initial four-year period, with the ability to scale up depending on the level of uptake.
The apprenticeship levy was introduced in 2017 for businesses with an annual wage bill exceeding £3 million. These companies are required to pay into the levy and can then use the funds to recruit and train apprentices. However, the uptake of apprenticeships has been low, with many businesses, especially mid-sized ones, facing challenges in recruiting apprentices.
According to business advisory firm BDO, over a third of mid-sized businesses are currently struggling to attract apprentices. In response to this issue, BT’s new fund will have a key focus on developing digital skills. This aligns with the company’s own emphasis on technology and innovation in its apprenticeship programs.
Chris Sims, managing director for small and medium business at BT, emphasized the importance of this initiative. He stated, “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. This not only helps create a more skilled, diverse, and competitive workforce, it also provides SMEs with additional resources to grow and scale their business.”
Sims also highlighted the impact of BT’s own apprenticeship program, stating, “The apprenticeship program at BT has not only shaped our workforce, it has also helped set industry standards.” This new Apprenticeship Fund aims to replicate this success by supporting a wide range of organizations in upskilling their workforce and driving economic growth.
Overall, BT’s investment in apprenticeships is a positive step towards addressing the skills gap in the UK. By providing financial support and resources to SMEs, charities, and public-sector organizations, the company is not only investing in the future workforce but also contributing to the overall economic development of the country.
