What Will it Cost?
The cost of training your apprentice is dependent on their age and whether or not your business pays the Apprenticeship Levy.
The cost of hiring an apprentice can start from as little as £4.30 per hour (for apprentices of any age in their first year and those under 19 in year two onwards). The average salary for all apprentices is approximately £190 a week; making apprenticeships a very affordable way of growing your business and the skills of your staff. With regards to training, if you are a non-levy paying business then you will only pay 5% of the overall training fee. The government will pay the rest.
However, ultimately, the decision on what is paid is your call, so long as it is above the minimum wage. Many employers pay their apprentices more than the minimum apprenticeship wage to reflect their value to the business, although this is not a requirement.
For more information and the current rates for all ages visit national minimum wage rates.
As the government want to support all business growth in this country through apprenticeships, there are many of different grants, incentives and forms of financial support available to you. Our team will be happy to advise.
Our Apprenticeship team is uniquely placed to advice you and your business with up-to-date knowledge of the funding support available to all the different types of business.