Many businesses take on apprentices as they start to grow. An apprentice is a young person who is learning a trade from a skilled employer and has agreed to work for a defined period at a low wage.
If you are thinking of taking on an apprentice it is a great time to do this as there are so many opportunities to get funding to support you and the apprentice. Employers are required to pay the minimum wage.
If you are recruiting for the first time you may want to read our blog that explains what you need to think about.
From April 2017, the wage for an apprentice ranges from £3.50 per hour to £7.05 depending on age and whether they are in their first year or subsequent years of training. Apprenticeships can have a lifespan of 1 to 4 years, depending on the apprentice’s level of qualification.
It allows an individual to study for a work-based qualification that can ominously improve his/her future earning capacity and career fulfilment. It also provides many benefits to the employer, for example, three are shown below but there will be many more.
Your employees’ skill-sets are directly related to your business bottom-line. Deploy apprenticeship training to improve them now and reap long-term benefits in the future.
Since you know your business future requirements, you will correlate the skills to be developed during apprenticeship accordingly.
There are some industries that struggle to recruit young people with adequate skills when they have left the full-time study. In addition, if you make need very specialized skills that can only be learnt when doing the job. In these situations, taking on a young person and training them in-house is ideal.
The National Apprenticeship Service reports that a whopping 92% of the companies that have invested in apprenticeships have seen a more energetic and committed workforce, while 80% of them have recorded a massive increase in workforce retention.
Employees of Small Companies often find themselves multi-tasking. As the business grows, occasionally mundane yet time-consuming tasks take an employee’s focus off the core of his/her job description.
Apprenticeships are an excellent way to delegate basic everyday tasks. That will free up your premium time for more pressing issues while allowing the apprentice to have a feel of your Company’s work culture and learn other skills over time.
Sounds like a cliché but still true to its core. An apprentice will bring a fresh perspective and take on your current conundrum, which if taken in the right light can have a charming effect on your existing workforce.
Since these apprentices come from a myriad of backgrounds, including high-calibre candidates who don’t fancy university education because of the cost involved. They bring new and often original insights into your business activities.
If you are interested in finding out more about taking on an apprentice then you can find some more information on the D2N2 Growth Hub website or Business is Great website.
If you are taking on an apprentice as your first employee then you will need advice on registering them with HMRC, please do get in touch with us if you need support by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01623 490120.
Haidee is our Personal Tax Director and is a fully qualified tax adviser, having achieved the ATT qualification in 2006. Tax efficiency being her main concern. Specialising in taxation, Haidee provides clients with advice on personal tax, PAYE services, VAT and social security. She also provides guidance to new start-up businesses.
Call us today on01623 490120
or email info@watsonk.co.uk
When you first start a business, your focus is usually on attracting customers, generating sales and building a successful company. Few business owners spend much time thinking about how or when they will eventually leave the business.
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