A good return on investment: Why apprenticeships make sense for a business like yours

Are apprenticeships really as cost-effective as claimed? With rising National Insurance and other costs, they could be a smart solution for affordable business growth and staff development.

Businesses are always looking for ways to improve their bottom line, increase productivity, and stay ahead of the competition.

One sometimes overlooked strategy is investing in apprenticeships, writes Tatiana Ameri of Gloucestershire College.

While it may seem like a cost, rather than an investment, the benefits of taking on an apprentice far outweigh any initial outlay. 

In this article, we’ll explore the financial, operational, and talent-related advantages that come with hiring an apprentice. 

Financial Benefits of Apprenticeships 

Government Incentives

The UK government offers various incentives to encourage businesses to take on apprentices. 

Employers can receive government funding to cover a significant portion of apprenticeship training costs. The amount depends on factors such as the size of the business, the age of an apprentices and whether the company pays the apprenticeship levy. 

National Insurance Contributions (NICs) Relief

Employers are exempt from paying Class 1 National Insu…